Working with stakeholders across the world we conducted comprehensive research into the role of management accountants, the skills employers expect of them, and how these are changing. This has allowed us to develop a competency framework for the future and we have developed our 2015 CIMA syllabus and assessment process to address the skills that employers will need. We found that the role of finance is being transformed in response to business needs. Finance professionals today are not just expected to have the technical skills to produce of good accounting information, but also to apply financial disciplines in business management, to influence people and lead within the organisation.
Competencies employers expect include core accounting and finance skills, business acumen, people skills and leadership skills, which must be underpinned by ethics, integrity and professionalism. Finance professionals should have an understanding of the organisation, its business model, its strategic context and its competitive position, in order to improve performance. This report explores the disconnect between educators’ priorities and the skills business needs, and explains the way we updated our syllabus and assessment, in collaboration with key stakeholders, to bridge the gap.