8 June 2022, Beijing/Shanghai – The much-anticipated Digital Management Accounting (DMA) Programme was officially launched at the “Sino-British International Professional Talent Exchange and Training Seminar” jointly organised by the Ministry of Science and Technology of the People's Republic of China and the UK’ Department for International Trade.
As Part of the 20th Conference on International Exchange of Professionals, the online seminar included in-depth reviews of the fruitful professional talent development partnerships between China and the UK and future cooperation opportunities with the launch of the new Programme.
Li Xin, Deputy Director of the Department of Foreign Expert Services, the Ministry of Science and Technology of the People's Republic of China, noted “Since 2019, thanks to concerted efforts of the China International Talent Exchange Foundation (CITEF) and UK organisations, joint programmes on green energy, the DMA Programme and other fields have driven strong partnerships on development of international professionals, and continue to build new platforms and channels in the future.”
Sohail Shaikh, Minister-Counsellor of the Department for International Trade, said "Hereby I’d like to extend my congratulations to CIMA and CITEF for launching the new digital management accounting program. I am confident that it will be very well received .Over the past three years, China and the UK have joined forces in the fields of digitalisation, technological innovation, education, and healthcare to develop top international professionals."
The launch of DMA Programme marks the first major milestone for CIMA and CITEF to introduce new knowledge frameworks to China. It also aligns with China’s 14th Five-Year Plan, specifically its efforts to accelerate the country’s digital transformation and building a digital economy.
As the world's leading professional body of management accountants, CIMA is committed to working with CITEF on the DMA Programme to develop interdisciplinary and digitally savvy professionals, which are essential to drive China's digital transformation, contribute to business innovation and lead on the development of digital finance.
Mr. Jinfa Wan, Deputy Director at CITEF (person in charge), stated “The UK can lend its expertise in sustainable development and digital development to China. CITEF pledges to develop internationally recognised training and certification systems, such as the DMA Programme, to help expand China’s high quality talent pool.”
The pandemic has accelerated digital transformation. However, according to an international survey conducted by the Association of International Certified Professional Accountants (AICPA ® & CIMA ®), only 3% of finance leaders said they were confident that their finance teams were well equipped for digitalisation.
Andrew Harding, FCMA, CGMA, Chief Executive Officer – Management Accounting, Association of International Certified Professional Accountants, representing AICPA & CIMA, said “According to PwC, 92% of global organisations are approaching uncertainty through continuous improvements to the business. The DMA Programme will help promote a strong digital management accounting knowledge and certification system in China, and jointly cultivate internationally scarce high-end talent with a global vision, digital mindset, and advanced management accounting skills in the country.”
Vicky Li, FCMA, CGMA, Regional Vice President – North Asia of the Association of International Certified Professional Accountants, representing AICPA & CIMA, commented “CIMA has been growing in China for more than 15 years. As a pioneer in digital programmes for management accountants, CIMA is launching the DMA Programme in China which integrates leading international management accounting knowledge with digital skills and is designed to drive digital transformation of finance professionals and help meet businesses’ demand for talent with robust qualifications and competencies."
The DMA Programme focuses on the digital mindset skills outlined in CIMA's CGMA competency framework, which outlines the skills and competencies needed by finance and accounting finance professionals to succeed in a real business environment. Here are some key facts about the DMA Programm in China:
The DMA Programme is open to working professionals and students who are interested in digital management accounting and hold bachelor's degrees or higher.
The DMA Programme exams will be both in Chinese and English as part of CIMA’s efforts to better support Chinese students. The first exam session is expected to be held in August this year.
Students who pass the DMA I and II exams will receive the AICPA® & CIMA® DMA Programme. DMA Programme holders will then be able to access a fast-track route to earn their CGMA designation.