News Highlights for July 2011

The AICPA Governing Council unanimously approved a new credential called the Chartered Global Management Accountant (CGMA), a joint venture of the AICPA and the London-based Chartered Institute of Management Accountants (CIMA).


Qualifying AICPA voting members will have the most favored pathway for obtaining the new credential. The credential advances the science of management accounting, while supporting and growing the U.S. CPA as the worldwide standard of professional excellence in accounting. The credential recognizes the unique competencies and expertise of management accountants who are leading the world’s most successful organizations and providing employers with the talent and skills needed to drive sustainable business outcomes.


AICPA voting members who work in business, industry, government, not-for-profit and consulting will be invited to obtain the credential by verifying they have a required three years of qualifying experience. CPAs who are members of both the AICPA and their state CPA society will be eligible for a special discounted annual fee.


In addition to management accountants, the CGMA may appeal to accountants working in other environments. For example, members in public accounting with practice management or management accounting experience may consider pursuing this credential to highlight these specific skill sets to their clients and within their markets.


CGMAs worldwide will have access to a variety of materials and publications, a proprietary website housing resources to help them develop management accounting competencies and a global social online network and community. To guide their professional development, CGMAs will tap into a self-directed competency assessment tool. This new platform will help them understand the skill sets they need to remain relevant and valued in the rapidly changing business world and identify courses of action to meet their objectives.


Started in 1919, CIMA represents more than 183,000 members and students in 168 countries. CIMA’s curriculum prepares students and professionals in the business, industry, government and not-for-profit arenas for careers as management accounting professionals.


CIMA has created strong relationships with employers, universities and highschool- level academies and maintains strong visibility in countries such as the United Kingdom, Ireland, India, China, South Africa and Australia.


For more information about the CGMA and what it means for the profession, visit


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