Thank you all. 

While the independent certification affiliate of IMA (ICMA) makes these decisions, I do not believe that there is any discussion of exemptions between the 2-part CMA exam (with 10 distinct domains) and the 4-part CPA exam.  That is simply because there is much less overlap than before, so the CMA and CPA are more complementary.

However, the ICMA regularly assesses recognition agreements with other bodies around the world.

   Jeff

Fair question. 

I can only speculate.  In advance of my remarks, I want to let you know that during my tenure as CEO (going on 3 years), IMA and AICPA have had respectful relations and have partnered on several very high profile committees.  Perhaps AICPA thought that IMA would not be interested in a JV where AICPA would have 60% controlling interest and the CMA credential would be replaced by a new management accounting designation, essentially an add-on to the CPA vs. a primary certification.  Perhaps AICPA did not realize that IMA has been growing outside the United States given AICPA's interests to go global.  Please note that this is speculation only.

In the meantime, the AICPA and CIMA UK governing bodies vote in May.  While IMA is staying the course on its growth strategy, we must raise the bar.  At the global level, now that IMA is financially healthy (several consecutive years of surpluses, strong balance sheet and reserves), our board and governance are strong, and the CMA program is doing well (last year, record number of CMA candidates, this year record number of CMAs) we are now in a position to assess strategic alliances that make sense for IMA - and, we are doing so.  At the local level, we need every IMA member and CMA to be "champions" for  your association and certification in your company and extended networks.

Thanks,

     Jeff

Hi All -

This new JV if approved would compete with the IMA.  In that sense, it is a risk/threat.  However,  if IMA is agile, focused on value and pulls together even further its global network of staff, volunteers and members, we can turn this risk into an opportunity which benefits IMA and enriches individuals, organizations and societies.

IMA was not involved in the process between AICPA and CIMA.  IMA remains on respectful terms with AICPA and has worked on joint projects in the past.  IMA is a well respected global player in management accountancy.  Take a look at IMA’s Annual Report – IMA is financially healthy and its CMA certification is global and growing.  For forty years, the CMA has been the gold standard of certification in management accountancy globally.  The IMA has been legitimizing and advocating for management accountancy for over nine decades in the United States, and with members in 120 countries and offices in four global regions, we are the preeminent global association for management accountancy.  We are also very proud of our foundation in ethics, values and doing business the right way that is true to our mission as a not-for-profit.

 IMA is equally proud of its rigorous CMA curriculum and believe it complements the CPA and other important accounting designations.  But the CMA can also be the appropriate credential for those who do not choose the audit or tax track.  We believe the CMA is more than an “add-on” for only those who hold the U.S. CPA license (please note that the add-on management accounting designation to the CPA is not necessarily the FCMA or ACMA offered by CIMA; also note that the JV is not offering a stand alone management accounting designation).  The CMA truly is the essential credential for ALL accountants and financial professionals in business for organizations of any size, any structure, any where.

Great question and I really appreciate it, Man Wah Law!

Yes, our global HQ is in the U.S., but we now have local offices in Beijing and Dubai, with a small office soon in Zurich.  Our proud profession is indeed global, and our association must reflect the face of the profession especially since our 60,000+ members reside in approximately 120 countries.

We have significantly stepped up our investments outside the U.S., and are trying hard to localize and deliver valuable services in-region.  In addition to the local offices staffed with customer service and other types of support, in China for example we have delivered: student case competition; a Chinese-language web site; a Chinese-language exam prep learning materials; Chinese-language SMAs and case journal; and more.  Likewise, we have a growing number of localized services in the Middle East (I mentioned the office in Dubai) and Europe.  Additionally, senior leaders frequently visit the region and as CEO, I will be visiting China and the Middle East in October.  Our (volunteer) Chairman of the Board is likely to visit Europe this Autumn (November timeframe).

But we must do more on the journey to true globalization.  It starts with the board, governance, and the strategy.  With respect to the global board of directors and tone at the top, at our board meeting this October 1-2 in Seattle, we have hired a consultant to train the entire board and members of the management team on "intercultural" diversity and related issues on this journey.

Hope this helped!!

    Jeff

Hi All,

Thank you all so much for the wonderfully supportive comments to date - we are very pleased!

For those of you who had more individual type questions, you received a direct response.

For more generic suggestions on improvements, like those from Siu Lung So and others, be assured we are logging all of your input and will address as part of our continuous improvement program.

Keep well.

  Jeff