The AICPA and the Chartered Institute of Management Accountants (CIMA) have set Jan. 31 as the launch date for their new joint credential, the Chartered Global Management Accountant (CGMA).
“What we’re creating is a very significant global community,” Charles Tilley, CIMA’s chief executive, told members of AICPA’s governing council Monday.
In May, AICPA and CIMA governing bodies unanimously approved the creation of the joint venture, referred to as the Association of International Certified Professional Accountants. The CGMA credential will recognize the competencies and expertise of management accountants. The CGMA credential will be promoted and supported by the joint venture, which will also promote the U.S. CPA worldwide.
“Together we are a complete accounting force,” Arleen Thomas, AICPA’s senior vice president, management accounting, told council members, calling the venture a “truly global voice.” Together, the new venture will cover more than 550,000 members and students worldwide.
Current plans call for the organizations to host launch day events on Jan. 31 in Kuala Lumpur, Malaysia; London; New York City; and the U.S. West Coast. The organizations have been developing awareness-building efforts and member communication campaigns to explain the new credential to accountants, employers and others.
Thomas pointed to survey results that show evidence of awareness of the new credential despite limited marketing in the pre-launch period. A survey of AICPA members in business and industry conducted this summer showed that 32% were aware of the CGMA credential. Preliminary results from a CIMA survey show 49% market awareness of the credential.
Thomas also offered a preview of what the organizations will offer at www.cgma.org beginning Jan. 31. The site will house an online community, or social network, where credential holders can share ideas, questions and best practices. A digital magazine on the site will offer daily news updates and in-depth features weekly, Thomas said. The site will also offer a slate of thought leadership papers that use research, surveys and case studies to explore top issues.
“We are in an incredibly challenging world,” Tilley said, citing global economic risks, competitive pressures and demands on natural and other resources. “The world needs management accountants and CGMAs more than ever right now.”
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