27 January, London – The Chartered Institute of Management Accountants (CIMA) has signed a Memorandum of Understanding (MoU) with the Institute for Continuous Improvement in Public Services (ICiPS) to help finance professionals deliver value and deal with technological complexity.
This three-year agreement provides ICiPS members with an incentivised pathway to pursue the CIMA Professional Qualification and become both a member of CIMA and the Association of International Certified Professional Accountants – the unified voice of CIMA and the American Institute of CPAs (AICPA).
Conversely, CIMA members who hold the CGMA designation can become ICiPS members via their fast track route. This requires them to complete ICiPS recognised continuous improvement related courses.
The agreement will help finance professionals working in public services develop the technical, business, digital, people and leadership skills needed to succeed in a rapidly changing digital world. They have a crucial role to play in readying their organisation for the future, providing data-driven business intelligence to help meet rising stakeholders’ expectations and deliver improved service outcomes in the digital economy.
Andrew Harding, FCMA, CGMA Chief Executive – Management Accounting said:
“With the world of work changing at breakneck speed, upskilling and reskilling our workforce will be key to making the most of the digital revolution and boosting our country’s productivity. Worryingly, our research shows that 37% of UK workers don’t feel that they need to learn new skills despite a growing awareness of the impact of technology on jobs.
“We must better support current workers to learn throughout their careers, and this cannot be achieved through formal education alone. This agreement is a sign of our ongoing commitment to building a strong management accounting profession, supporting our members and students to upskill and reskill throughout their careers, and giving them the skills and resources they need to succeed in the modern business world.”
Debbie Simpson, FCIPD, FICiPS, FCMA, CGMA, CEO of ICiPS added:
“As a professional body, we are committed to advancing professional practice within the continuous improvement field. Our core mission is to support our members and students to find new ways to increase efficiency and effectiveness within public services, and respond seamlessly to emerging demands and opportunities.
“We believe that this agreement offers ICiPS members a fantastic development opportunity, enabling them to develop and diversify their skills and knowledge to deliver fresh and innovative approaches and drive transformation within public services.”
Notes to editor
With this agreement, ICiPS members have an expedited pathway to both the CIMA Professional Qualification and the Chartered Global Management Accountant (CGMA®) designation, the most widely held management accounting designation in the world. The programme is open to ICiPS members with relevant work experience in finance and business functions. Through the CIMA Corporate Professional Pathway (CPP) or CFO Programme, candidates are exempted from up to 11 exams of the CIMA Professional Qualification and get direct entry to the Strategic Case Study exam – the final capstone exam of the CIMA Professional Qualification.