News

We are pleased to inform you that Steve Swientozielskyj FCMA, CGMA is the new President of CIMA, effective from 1 June 2018. His Deputy is Amal Ratnayake FCMA CGMA while Nick Jackson  FCMA CGMA is the new Vice President. Francis Chan FCMA, CGMA will serve as a member in the CIMA Council. 

The South East Asia Regional Board has also been constituted, under the governance of the Association, with members serving the Board with effect from 1 June 2018. 

As stipulated under the Terms of Reference for Regional Boards, the constitution of the Board shall be 11 individuals, of which three members shall be elected. The elections for these three members have been concluded. The remaining individuals shall be five nominated members and two students. The nominations were made by the Nominations MA Sub-Committee and approved by CIMA Council. The Regional Vice President is appointed as the RVP to the Regional Board and as committee secretary. 

Mr Szilard Brenner FCMA, CGMA serves as the Chairman of the South East Asia Regional Board, with Mr Irwan Djaja ACMA, CGMA as the Vice Chairman.

The Regional Board will continue to provide perspective on the development of the Association’s strategic plan, the local marketplace and understanding emerging issues in the region - all towards enhancing the management accounting profession and ensuring our continued relevance to the needs of employers and the industry. 

We wish our governance members all the very best during their tenure. 

In our first partnership for 2018, we were pleased to sign an MOU with Universitas Mercu Buana (UMB) on 6 January 2018. The MOU allows for a special fast track pathway for UMB's Master’s Degree students to become Chartered Global Management Accountants (CGMAs). This will undoubtedly help to create local talents with international recognition.

CIMA was represented by Shavonne Sim, Associate Director, SE Asia and Giri Suhardi, Country Manager, Indonesia, during the signing ceremony. Signing on behalf of UMB were Dr Arissetyanto Nugroho, MM (Rector of Universitas Mercu Buana) – Prof. Dana S. Saroso, Ph.D (Vice Rector for Innovation, Alumni and International Relation of Universitas Mercu Buana).

From left: Shavonne Sim, Giri Suhardi, Dr Arissetyanto Nugroho, MM and Prof. Dana S. Saroso, Ph.D

We renewed our Memorandum of Agreement with the Malaysian Institute of Accountants (MIA) on 7 November 2017 on the fast track pathway for MIA members to become CGMAs. In this renewal, the pathway is now extended to Chartered Accountants from the MIA Qualifying Exam route in addition to MIA members admitted under Part I and II of the First Schedule to the Accountants Act 1967.

From left: Venkkat Ramanan, Regional Vice President, Asia Pacific; Andrew Harding, Chief Executive – Management Accounting; Salihin Abang, President, MIA; Dr Nurmazilah Dato’ Mahzan, CEO, MIA.

We signed a number of MOUs with universities in the second half of 2017 to enhance student recruitment.Our new partners include UCSI University, First City University College, SEGi University, GlobalNxt University, Binary University College and Quest International University. We also renewed an MOU with Nilai University.

Signing ceremony with First City University College. Ginny Lim (3rd from left), Markets Manager, Malaysia, and Tan Sri Dato’ Teo Chiang Liang (2nd from left), Director of First City University College.

MOU exchange with GlobalNxt University. From left: Dr Habibullah Khan, Registrar, GlobalNxt University; Dr Wing Lam, Vice Chancellor, GlobalNxt University; Ginny Lim, Markets Manager, Malaysia; Sim Shie Mun, Markets Executive, Malaysia.

Venkkat Ramanan (left), Regional Vice President, Asia Pacific, exchanges the signed MOU with Prof Dr Patrick Kee (right), Vice Chancellor of SEGi University.

CIMA and MIA jointly organised the CFO Dialogue 2017 on 31 October at the Royale Chulan Kuala Lumpur. The theme was 'The new business as usual: globalisation, digitalisation, disruption'.

It was an interesting dialogue that saw  about 70 C-suite executives coming together to discuss the new norm in today’s business landscape. The President of MIA, Salihin Abang, said in his welcome speech that the industry needs to recognise changes in the profession and how disruption plays a big role.

Nor Zahidi Alias, Chief Economist of Malaysian Rating Corporation Berhad, set the tone for the day, where he spoke about Malaysia navigating through turbulent times. 

There were two panel discussions - 'Winning business strategy' and 'Man and machine: Stronger together?' The event concluded with an interactive session on 'Your journey to value creation' and a case study on 'Managing the open workforce'.

Panel discussion on ‘The winning business strategy: Disruptions as opportunities to grow’. From left: Moderator, Datuk Johan Idris, Managing Partner, KPMG Malaysia; Panellists - Sandy Permadi, Chief Financial Officer, Lazada Group-Indonesia; Christopher Tiffin, Head of Regional DFS (Digital Financial Services), Axiata Digital Services; Patrik Stålberg, Chief Financial Officer, Microsoft Malaysia.

Samuel Li, our Learning Support Manager and a CIMA member based in Sydney, visited Jakarta in August and Yangon in October to conduct train-the-trainer sessions. In Indonesia, we partner with local universities to promote the CIMA qualification and the training aims to ensure the lecturers are well equipped to give guidance to their students regarding a suitable professional qualification for their career. 

In Myanmar, the market growth is led by tuition providers and the training thus focused on the technicality of the exam. The attending lecturers coach students to sit exams and it is important that the pass rate is strong.

Exam success workshops were also run in order to boost students’ confidence and increase their chance of passing exams. The workshops focused on exam techniques such as answer planning, time management and comparing good and bad answer scripts.

In Indonesia, separate workshops for the Operational and Strategic Case Study were conducted on 21 October 2017 for university students and CFOs from multinational companies who took the fast track route. We also organised an exclusive session for our corporate partner, Unilever, where 23 finance staff are studying CIMA.

In Singapore, a similar workshop was run on 25 October 2017 in collaboration with our Advance Learning Partner, SAA Global Education.

Train-the-trainer session in Yangon - Samuel Li (left) presenting a certificate of participation to a lecturer.

Train-the-trainer session in Jakarta on the Operational Case Study.

The Association's research into the future of finance and the business models framework will impact on the update to the CIMA syllabus. 

Shane Bazlan, Senior Director, Syllabus Development - Management Accounting,  was in Jakarta on 22 August 2017 and in Kuala Lumpur on 24 August 2017 to facilitate roundtables with industry professionals and seek insights into the future finance function and future role of the finance professional.

Dr Noel Tagoe, Executive Vice President of Academics, hosted a roundtable on the future of finance with Vice Chancellors of selected universities across the region on 14 November 2017 in Kuala Lumpur.

Charles Tilley, Executive Chairman, CGMA Research Foundation and former Chief Executive of CIMA is leading the research on business models. He was in Kuala Lumpur to host two roundtables with industry professionals on 9 November 2017.

Future of finance roundtable in Jakarta on 22 August 2017.

Dr Noel Tagoe (4th from right) with university representatives from Indonesia and Malaysia. On the left is Karen Phang, Associate Director of Accreditation - Management Accounting.

Charles Tilley (3rd from left) with industry professionals who shared insights on the new business model framework.

Several MIA roadshows and Info Sessions on our fast track programmes were held in the second half of 2017. During the MIA roadshows in Kuala Lumpur which featured the fast track programmes of CIMA, CPA Australia and ACCA, our members helped us in various ways. Yasmin Mahmood presented a CPD on ‘Protect your business: commercial vs compliance’ on 25 July 2017 while Pang Chee Ming shared his personal journey with the programme on 20 September 2017.

We are grateful for the support of our CGMAs who took time off to share their fast track study experience at the Info Sessions for the Strategic Leaders Programme. They were Jancy Oh, Mohd Tahir Kader Mohideen, Pang Chee Ming, Wong Chiun Chiek, Nirmala Doraisamy and Novie Tajuddin. Some spoke about their anxiety in sitting for an exam after such a long ‘lay-off’ from studies but with the support provided on exam techniques and practices with mock exams, they passed their exam with confidence.Their work experience helped tremendously because the exam involves strategic analysis, recommending solutions and supporting decisions - areas which fall within their job scope as senior finance leaders.

Info Session at the CIMA office in Kuala Lumpur on 22 July 2017. From left: Nirmala Doraisamy and Novie Tajuddin.

Info Session at Frisky Goat, Taman Tun Dr Ismail, Kuala Lumpur on 26 July 2017.

Info session at Nara Kitchen, Petaling Jaya, Malaysia on 26 August 2017. From left: Mohd Tahir Kader Mohideen, Jancy Oh and Pang Chee Ming.

The Association signed an MOU with the Institute of Singapore Chartered Accountants (ISCA) on 21 August 2017. The MOU gives holders of the CGMA designation and ISCA members access to mutual training and development opportunities. In addition, CGMAs will gain associate membership of ISCA.

A proud collaboration between the Association and ISCA. Andrew Harding (left), Chief Executive -Management Accounting and Lee Fook Chiew, CEO of ISCA (right).

During his visit to Myanmar from 10-12 November 2017, Dr Noel Tagoe, Executive Vice President of Academics, presented seminars on ‘Creating a winning business strategy’ to members of the Myanmar Institute of Certified Public Accountants (MICPA) and to lecturers and educators from the Yangon University of Economics. At the MICPA event, Dr Noel also presented certificates to four new CGMAs - U Ye Yint Win, Daw Thin Thin Myat, Daw Tin Mar Yi and Syed Hassnain Abbas Shah.

Dr Noel delivered a Mastercourse on the same topic to CIMA members on 15 November 2017 in Petaling Jaya, Malaysia and a workshop to staff of the National Accounting Institute of Malaysia on 14 November 2017.

A proud moment for our new CGMAs (4th, 5th, 6th and 8th from left) with Dr Noel Tagoe (7th from left) during the certificate presentation ceremony in Myanmar.

Staff of National Accounting Institute (IPN), Malaysia, learnt about ‘Winning business strategy’ from Dr Noel Tagoe.

As the Diamond sponsor of the MIA International Accountants Conference on 7-8 November 2017, we showcased the CGMA designation to a record 3000 participants who attended the conference. Plenary 2 was an exclusive CGMA session where Andrew Harding, Chief Executive - Management Accounting, gave insights on the future of finance and where it is heading in the digital economy. Andrew was joined by Syed Ahmad Taufik Albar, Group CFO of RHB Banking Group in the panel discussion moderated by Chari TVT, Board and Board Audit Committee Member, Dialog Axiata Plc.

Andrew Harding, Chief Executive - Management Accounting, presenting insights into the future of finance.

Chari TVT (left) and Syed Ahmad Taufik Albar (right) with Andrew Harding at the conclusion of the panel discussion on the future of finance. 

Our sponsorship of research projects by the Centre for Social Development Asia (CSDA), National University of Singapore, sees yet another publication launched on 8 November 2017 during the Charity Townhall meeting in Singapore. The publication focused on charity governance. Dr Noel Tagoe, Executive Vice President of Academics, represented the Association at the meeting.

Dr Noel Tagoe (3rd from left) with Gerard Ee (left), Chairman of Charity Council, and the panel members who discussed on the topic of Charity Governance in Singapore during the Charity Townhall meeting.

We also supported the Charity Transparency Awards and the Charity Governance Awards, both initiatives of the Charity Council. The aim of the awards is to promote good governance and transparency in the charity sector by acknowledging the excellent work of charities, while inspiring others to emulate their best practices. The awards were presented during a dinner held on 15 November 2017 at the Singapore Marriott Tang Plaza Hotel.

Guest of honour, Grace Fu, Minister, Ministry of Culture, Community and Youth, Singapore, speaking at the charity awards presentation ceremony.

We forged new partnerships with @America and Alwyni International Capital to promote the CIMA Professional Qualification and the CIMA Islamic Finance qualification respectively.

@America organised four finance seminars based on the three pillars (enterprise, performance and finance) of the CIMA qualification. The fourth seminar focused on integrating the three pillars which are important for the finance function. During the seminars, we also promoted the fast track Corporate Professional Pathway.

We collaborated with Alwyni International Capital (AIC) to offer Islamic Finance training leading to assessments for CIMA’s Islamic Finance qualification. As CIMA’s Islamic Finance Associate, AIC delivered training courses from August to November 2017, covering Islamic Banking and Takaful, Islamic Capital Markets and Instruments, and Islamic Commercial Law.

Collaboration with @America on finance seminars. On the left is Giri Suhardi, Senior Manager, Indonesia.

Farouk Abdullah Alwyni, CEO of Alwyni International Capital, delivering the Islamic Finance training in Jakarta.

CIMA Indonesia and CPA Australia jointly organised a CPD event on ‘Effective business partnering’ in September 2017. CIMA member, Dr Irwan Djaja, President Director of PT LinkNet Tbk, was the speaker who delivered on ‘Effective business partnering’. We also took this opportunity to inform participants about the Member Pathway Agreement (MPA) between CIMA and CPA Australia that became effective from 1 January 2017.

One for the album - participants at the first CPD event by CIMA and CPA Australia in Jakarta, Indonesia

Students studying at Tunku Abdul Rahman University College (TARUC) can now apply for the newly established Christopher SC Chan CIMA grant if they wish to pursue the CIMA Professional Qualification and become a Chartered Global Management Accountant (CGMA) as a career choice.

The grant was set up by Tunku Abdul Rahman University College (TARUC) on 21 July 2017 with the contribution of RM100,000 by its alumni member, Christopher SC Chan. Chan is a chartered accountant by profession and is a Fellow member of The Chartered Institute of Management Accountants® (CIMA).

In contributing to the grant, Chan said: ‘After 40 years, I’m very happy to be back at my alma mater and to contribute back to TARUC for giving me the educational foundation to succeed in life.’ He advised TARUC students: ‘In whatever you do, you must always do your best. When you join an organisation, your ambition should be about being the best you can as a resource for the organisation. In this way you will create opportunities for yourself and your career. Always be optimistic on what you can achieve and focus on believing in yourself. When you are successful in later years, don’t forget your alma mater, your lecturers and the people who have helped you to be where you are in life.'

Christopher Chan FCMA, CGMA is second from left, flanked by staff from TARUC.

Ginny Lim (left), Manager, Malaysia Markets presenting a letter of appreciation to Christopher Chan FCMA, CGMA

CIMA has signed a Memorandum of Understanding with First City University College on 11 July 2017.

With this partnership, students registered for the Diploma in Business Administration and BSc (Hons) Accounting and Finance programmes at First City UC will receive exemptions from the CIMA professional qualification and fast track to become Chartered Global Management Accountants (CGMAs) and members of CIMA.

Diploma in Business Administration students will sit for only one exam to gain the CIMA Certificate in Business Accounting. BSc (Hons) Accounting & Finance students will sit for only the Operational Case Study exam to gain the CIMA Diploma in Management Accounting. This will increase their employability when they enter the workforce after graduation. They will also have the opportunity to continue with the CIMA Professional Qualification and sit for the remaining exams while pursuing their career.

For the signing ceremony, CIMA was represented by Ginny Lim (Markets Manager, Malaysia) while First City UC was represented by Tan Sri Dato’ (Dr) Teo Chiang Liang (Director, First City Corporation) and Yeong Yin Cheng (Chief Operating Officer, First City Corporation). 

(From left) Yong Yin Cheng, FCUC COO; Tan Sri Dato' Teo Chiang Liang, Director FCUC; Ginny Lim, Markets Manager Malaysia; Dr Anne Ho, Dean Faculty of Arts & Social Science, FCUC.

In collaboration with TRG International, CIMA has started a monthly informal networking session for CGMAs in Vietnam. It’s held over breakfast every second Tuesday of the month from 8.00am to 9.30am at PJ’s Coffee Sala in Ho Chi Minh City. Besides networking with peers, it's also a time for learning and sharing. At the event on 11 July, Rick Yvanovich, past Chairman of the South East Asia Regional Board, led a discussion on 'A CFO's key competencies for the future.'

To find out more about the monthly breakfast session, please email em.seasia@aicpa-cima.com  

21 exam complete students from Malaysia and Singapore attended the face-to-face membership assessment on 17 June. Of these, 13 were admitted as Associate members while the remaining were Strategic level students who had their work experience approved. This means that they will become Associate members immediately after they pass the Strategic Case Study exam.

Our thanks go to Francis Chan, Chairman of the Global Membership Committee, and the local assessors comprising Yasmin Mohd Ramzi, Dato’ A. Yogesvaran, Dato’ Michael Eow, Felix Chin, Lim Kian Hui, Bernard Chai and Tan Hoi Ping.

A new CGMA (left) - all smiles after being admitted as a member. He is being congratulated by Dato’ A. Yogesvaran, Deputy Chairman of the South East Asia Regional Board.

The membership assessors. From left: Bernard Chai, Felix Chin, Francis Chan (Chairman, Global Membership Committee), Dato’ Michael Eow, Lim Kian Hui, Yasmin Mohd Ramzi, Tan Hoi Ping.

40 new CGMAs in Vietnam received their certificates during the CGMA Recognition Evening held on 15 April at the Novotel Saigon Centre Hotel in Ho Chi Minh City. Rick Yvanovich, Past Chairman of the South East Asia Regional Board, presented the certificates to the CGMAs, most of whom came through the CFO Programme.

Four students were recognised as Prize Winners for being the top scorers in Vietnam for the 2016 case study exams. They were:
Phan The Vu and Pham Thi My Le (Strategic Case Study)
Nicholas Froy  (Management Case Study and Operational Case Study)

An evening to remember for the new CGMAs in Vietnam.

CIMA's fast track programmes are gradually gaining traction in Indonesia. Targeted promotions were organized through two events held on 26 April - CIMA-IAI Strategic Leadership talk and the Open House for CFO Programme. Sincere thanks to our CGMAs, Lioe Chu Ling and Andy Rahardja who spoke at the Strategic Leadership talk. We are also grateful to CGMAs Andre Khor and Irwan Djaja, for their insights at the Open House for CFO Programme, jointly organized by CIMA and UPH Executive Education. 

Indonesia CIMA-IAI Strategic Leadership Talk

Open house for CFO programme. Panellists: Andre Khor (right), Deputy CFO Downstream, Golden Agri Resources; Gracia Ugut, Executive Director, Lippo Education Initiative; Irwan Djaja (left), President Director, PT Link Net, Tbk

Andrew Miskin, President of CIMA (2016/2017) and Chair of the Association 2016/2017) was the guest of honour at the President’s Dinner & CGMA Recognition Evening held on 16 May at Carlton Hotel.

Andrew presented certificates to five new CGMAs, three exam complete students and 7 Prize Winners who scored the highest marks in Singapore for CIMA exams taken in 2016. CGMAs who have been with the Institute for 10-30 years also received their membership anniversary pins from Andrew.

New CGMAs and exam complete students giving the thumbs-up for their achievement.

Andrew Miskin, President of CIMA, was the guest of honour at the President’s Dinner & CGMA Recognition Evening held at Hilton Kuala Lumpur on 13 May.

The event saw an overwhelming attendance of 450 participants that included new CGMAs and their families, members, prize winners and corporate guests. During the dinner, we also celebrated the 10th to 40th membership anniversary of CGMAs. BMW and Sime Darby Property were the Diamond sponsors, with Robert Walters as the supporting partner.

Andrew also presented an exclusive CPD event for MIA members on 12 May.

New CGMAs received their scrolls from Andrew Miskin, President of CIMA. 

CGMAs proudly displaying their membership anniversary pins.

As part of the President's itinerary and visit to the SE Asia region, Andrew Miskin, President of CIMA visited Yangon on 8-9 May. He had high level meetings with the Myanmar Union Auditor General and the Myanmar Institute of CPAs. He also met with CIMA members over lunch and presented a talk on ‘Joining the dots’ to learning partners and CIMA students at Sule Shangri-La.

The President, Andrew Miskin (left) with U Maw Than, Union Auditor General of Myanmar.

The President with participants who attended the talk on ‘Joining the dots'.

Members meeting the President, Andrew Miskin, over lunch.

“There’s never been a better time to be a management accountant”

Following the overwhelming support of CIMA members last month to establish the world's largest and most influential accounting association - bringing together CIMA with the AICPA - Charles Tilley has decided to end his 15 year tenure as CEO of CIMA, stepping down from his role on 31 July 2016.  

As colleagues and friends will warmly recognise, Charles Tilley is fond of saying; 'there’s never been a better time to be a management accountant'.  And he's right as new opportunities open up for management accountants as CFOs, FDs, CEOs and Chairmen in leading businesses and other organisations across the world.  

Charles Tilley will continue to play an active role going forwards. He will become the part time Executive Chairman of the newly established CGMA Research Foundation focusing on senior business relationships and their needs from management accounting with a particular focus on raising the awareness and driving the adoption of the Global Management Accounting Principles. He will also continue to play a wider representative role advancing the agenda of building better business trusted by society.  

Speaking for CIMA members President Andrew Miskin commented: “I am delighted to pay tribute to Charles. He has played a critical role in driving the formation of the new Association. CIMA has never been better known, more respected or influential. Charles has transformed CIMA as an active force across Asia and has opened up North America. His commitment to rigorous research focused on the current and future needs of business ensures the relevance of those who are CIMA qualified. He helped forge the Global Management Accounting Principles, the basis of the world’s first global standard for management accounting, BSI PAS 1919”.

Charles Tilley added: "I have been tremendously honoured to serve as CEO of CIMA. With member endorsement achieved, the next step is to establish the Association, successfully implementing the integration of strategy, management and operations, laying the strongest possible foundations for the CGMA designation. At this next stage of the development of CIMA I believe the time is now right to stand down. I am enormously grateful to members, staff and partners for all they have contributed whilst I have been CEO". 

Barry Melancon, President and CEO of the AICPA remarked: "I am delighted that Charles has responded positively to my request that he stay on adding his insight, wisdom and guidance.  As we make history forming the new Association I and colleagues are all too keenly aware that we simply could not have done it without Charles".

Andrew Harding, currently CIMA's Managing Director, will become acting CEO from 1 August until the Association is formed in January 2017 - he will then become the first CEO of the new 'CGMA Unit' of the Association. Andrew added:

"Charles has been a tremendous and inspirational colleague and leader - on behalf of all staff together with senior colleagues, I warmly wish Charles, Sarah and his family the very best whilst strongly welcoming his continuing relationship with CIMA going forwards. 

“I am delighted to be leading CIMA and the new CGMA Unit - and very much look forward to working with our members, partners and students across the world in forging the new Association".

Andrew Miskin FCMA, CGMA has been elected as the 83rd President of The Chartered Institute of Management Accountants® (CIMA) at the institute’s annual general meeting (AGM) on June 18. Andrew, who has 25 years’ experience as a management consultant, will be responsible for chairing the institute’s governance arrangements and advocating for CIMA and management accounting.

Andrew has held a variety of roles within CIMA, including serving on the CIMA council, as Chairman of CIMA’s members' services committee and as Deputy President of the executive committee. On the day of his election to President, the result of a member ballot in favour of a new accounting association with the American Institute of Certified Public Accountants was also announced. Andrew will therefore oversee the creation of the new body.

Andrew Miskin said: “This is one of the most exciting times for CIMA and I’m proud to start my new role on the same day we announced the vote of our members in favour of The Association.

“The role of Management Accountants is evolving from the reporting of financial and operational performance. Today, it is about communicating decision-relevant information and providing management with a forecast of potential outcomes. Therefore, new competences and especially a new confidence in dealing with uncertainty is required. Management Accountants are now leaders at all business levels and they create and protect value. So, I have the good fortune to begin my presidency at a time when management accountancy is becoming more relevant than ever.

“CIMA will continue to be the most important advocate for the management accounting profession and I am looking forward to playing my part in this as CIMA’s President.”

During his management consulting career Andrew has lived and worked all over the world – from Paris, Iraq and Switzerland to Ukraine. He has held senior leadership roles within Esso, KPMG, IBM, CSC and PricewaterhouseCoopers. Andrew is also a member of the Institution of Engineering and Technology and a Chartered Engineer. He undertakes pro-bono charitable consulting work through the auspices of the Worshipful Company of Management Consultants.

The Chartered Institute of Management Accountants® (CIMA) and the American Institute of Certified Public Accountants (AICPA), are joining forces to create a new association to represent the entire breadth of the accounting profession.

The new Association aims to become the most influential professional accounting body in the world, and will represent 600,000 current and next-generation professionals. It has been designed to complement rather than replace both constituent organisations – so while it will bring extra weight and influence to CIMA, CIMA’s existing structure and Royal Charter will remain, and CIMA will retain its management accounting focus.

CIMA and the AICPA members will retain membership of their existing member organisation but will gain additional membership of the new Association.

The decision to create the Association was taken after both organisations’ member bodies voted to endorse the move in ballots which concluded on June 16. 89.7 per cent of CIMA members voting endorsed the resolution, with 86.5 per cent of AICPA members who cast ballots voting in favour. Work to create the Association will begin straight away, and it will launch in 2017.

CIMA’s President Andrew Miskin said: “We live in a time of rapid change and increasing competition. Responding to this, I am delighted that CIMA and the AICPA members have endorsed the proposal to create a new association so that we can stay ahead of market changes and developments.”

“We will build on the history and strengths of both CIMA and the AICPA, which will enable us to accelerate our strategy, and to expand the opportunities for CGMAs around the world.”

The formation of the Association represents a deepening of the joint venture that CIMA and the AICPA have operated since 2011, which has expanded management accounting within the USA, and created a new global designation, Chartered Global Management Accountant (CGMA).

CIMA’s outgoing President Myriam Madden said: “This has been a year of focus. Throughout this process we have maintained an open dialogue with our members to better understand their professional needs and the world-class services required to deliver greater recognition and employability.

“I look forward to seeing how the evolution of our joint venture will help our members and businesses around the world to succeed in the coming years.”

The proposal is designed to ensure that not only do members keep the status and recognition of CIMA’s qualifications and designations, but also benefit from the additional relevance, resources and global reach that comes from integrating the activities of two of the world’s most influential accountancy bodies. Students will also have access to more learning tools, as well as benefitting from increased recognition of the qualification they are studying towards.

AICPA President and CEO Barry Melancon CPA, CGMA said: “In developing this proposal, we were careful to structure commitments to CPA and CGMA, CIMA and AICPA and public practice and management accounting. We are excited about crafting a path forward that reflects how the world is changing.  At the same time, we will be extraordinarily mindful of protecting our collective history and the strong reputation both organizations have built over the past century. This is about building on what is great – and addressing an exciting evolving world.”

CIMA’s Chief Executive Charles Tilley said: “Our current joint venture with the AICPA has been extremely successful, so we are evolving this partnership. In doing so we will support our members and students further, which means both greater resources, and the weight of a larger organisation behind them.”

Congratulations, CIMA world prize winners

We celebrate the superb achievements of our CIMA students, Thida Oo and Phyu Lyinn Kyaw (pictured below). They passed the CIMA Professional Gateway exam with flying colours and beat students around the world to clinch the first and third placings respectively.

They will now proceed to complete the final four papers of the CIMA Professional Qualification. We look forward to welcoming them as CIMA members and Chartered Global Management Accountants (CGMAs) in the near future!

You can be just like these two. Enrol with CIMA now and achieve success! 

CIMA signed a memorandum of agreement (MOA) with the Institute of Singapore Chartered Accountants (ISCA) on 17 March 2015 to establish the ISCA-CIMA Pathway.

The ISCA-CIMA pathway scheme is a fast track for ISCA members to become CIMA members and be awarded the Chartered Global Management Accountant (CGMA) designation. Eligible ISCA members must be a CA (Singapore) with at least three years' full membership and based in Singapore.

Successful applicants will only sit for the last exam - CIMA strategic case study. Upon successful completion of this exam and with the relevant work experience, applicants will qualify for CIMA membership and earn the CGMA professional global designation.

View details of the ISCA-CIMA pathway (PDF 308KB)

Enquiries
CIMA Singapore 
T. +65 6824 8252
E. singapore@cimaglobal.com

CIMA SE Asia celebrated a grand occasion on 21 March 2015 at JW Marriott Kuala Lumpur, in conjunction with the CIMA president’s visit to South East Asia – the convocation of its newly admitted members, the presentation of certificates to students who have completed the CIMA exams, the presentation of membership anniversary pins to CIMA members and trophies to prize winners in the CIMA exams. Keith Luck FCMA, CGMA, President of CIMA, did the honour of presenting scrolls and certificates to the members and students

About 500 CIMA members, their families and friends as well as CIMA’s corporate guests attended the grand event.

Mohd Tahir Kader Mohideen was named ‘CIMA Student of the Year’ for achieving a world ranking of No. 7 in the CIMA exam. Another outstanding student was Jasmin Ehsan who was the top scorer for all three Strategic level exams, repeating her feat in 2014 when she won awards for all three Management level exams. 

Three universities in Malaysia were awarded Tier 1 status by CIMA that will enhance the employability of students by giving them a fast track route to gain the CIMA professional accounting qualification.

The Tier 1 University status is a new global initiative by CIMA to recognise the accounting degrees of reputable universities around the world and award them with 12 exemptions (out of a total of 17) in the CIMA Professional Qualification. Three Malaysian universities have so far been recognised as Tier 1 Universities - Universiti Malaya, Universiti Teknologi MARA and International Islamic University of Malaysia, and several more will be awarded with the same status.

In a Memorandum of Understanding signed with CIMA on 9 March 2015, students currently pursuing an Accounting degree at these three universities will be able to complete the CIMA Professional Qualification in a much shorter time as they will only need to sit for five exams.  In addition, since January 2015, students have the flexibility of taking their exams at any time of the year as all the CIMA exams are computer-based.

Students in a Tier 1 University will also have the opportunity of graduating with two qualifications – an accounting degree and the CIMA Advanced Diploma in Management Accounting, once they pass the CIMA Management Case exam paper during their final year at university. 

IMA has published a report on 'Ready for business: Bridging the employability gap - The Vietnam perspective. The report provides insights from a series of roundtables organised by CIMA in Vietnam.

Some of the findings from the roundtables include:

• Most graduates need considerable improvement in the basic practical day-to-day business skills such as communication, problem solving, critical thinking and people management.
• Universities and educational institutes in Vietnam are aware of the need for basic business skills and work placements are increasingly becoming a staple part of undergraduate courses.
• There should be more dialogue between employers and educational institutes as employers can contribute their real-world expertise on what they expect and need - and an educational institution’s syllabus can be developed, modified or refined, to reflect the rapidly evolving business landscape.

The findings reflect a growing global trend, with employers around the world struggling to find qualified workers – even among those with significant academic credentials.

View the report (English version) (PDF 362KB)

View the report (Vietnamese version) (PDF 608KB)

The Dolphins team from Prasetiya Mulya School of Business and Management won the 2015 GBC local final in Indonesia. Congratulations to them! The local final was held on 21 May 2015 at the Intercontinental MidPlaza Jakarta.

Dolphins will represent their university and country at the 2015 GBC global final in Warsaw, Poland, in August.

The other winners were:
First runner-up: Team Sailendra from Binus University
Second runner-up: Team CEO 21 from President University
Consolation: Team Ganendra from Universitas Gadjah Mada and West Palm from Universitas Indonesia
Best Speaker: Stephanie Regina from Team Dolphins, Prasetiya Mulya School of Business and Management

The honourable judges were:
• Dr Amirul Shah Md. Shahbudin, Deputy Dean, Student Affairs & Networking, Universiti Sains Malaysia as the Chief Judge
• Professor Lindawati Gani, CA, National Council Member, the Indonesia Institute of Chartered Accountants 
• Mr Andre Khor, FCMA, CGMA, Finance Director, Shell Indonesia
• Mr Krishna Putra, Senior Resource Management Officer, World Bank, Indonesia

The winners of the 2015 GBC local final in Myanmar were the Vector team from MHR Management Institute (pictured below). Congratulations to them! 

Vector will represent their university and Myanmar at the 2015 GBC global final in Warsaw, Poland, in August.

The local final was held on 15 May 2015 at the Sule Shangri-La Yangon, Myanmar.

• Runner-up: Team Artemis from MHR Centre II (Business Institute)
• Third place: Team Synerty from PS Business School
• Best speaker: May Sandy Maw from Team Artemis, MHR Centre II (Business Institute)

The honourable judges were:

• Professor Dr Rozainun Haji Abdul Aziz, FCMA, CGMA, Dean, Faculty of Accountancy, Universiti Teknologi MARA, Malaysia as the Chief Judge
• Dr Tin Latt, FCMA, CGMA, Senior Executive Member of the Myanmar Institute of Certified Public Accountants and Managing Partner, MAT Audit and Professional Services
• Mr Roopan Bsi, Cluster Director of Finance Myanmar, Hilton Hotel
• Ms Myint Yu Yu Khine, Project Director, Transformations, International Banking Division, KBZ Bank

CIMA SE Asia organised CGMA Recognition nights in Jakarta, Indonesia on 15 June 2015, in Ho Chi Minh City, Vietnam on 17 June 2015 and in Hanoi, Vietnam on 18 June 2015. New Chartered Global Management Accountants (CGMAs) were recognised for their achievement in attaining CIMA membership and the CGMA designation. The award ceremonies were attended by CIMA’s corporate guests and leading employers in both countries.

In Vietnam, the CGMAs were from the CIMA CFO programme that fast tracks eligible candidates to CIMA membership through the successful completion of the final exam of the CIMA qualification.

CGMA Recognition Night in Jakarta, Indonesia.

CGMA Recognition Night in Hanoi, Vietnam.

Members of the Chief Financial Officer (CFO) Club and the Vietnam Association of Accountants and Auditors (VAA) can now fast track to the CIMA professional qualification and become Chartered Global Management Accountants under a memorandum of understanding (MOU) signed with CIMA on 17 June 2015 and 18 June 2015 respectively

Under the MOU, VAA and the CFO Club will implement the CFO Programme in collaboration with CIMA. Under this programme, members of VAA and the CFO Club will be able to complete the CIMA professional qualification by sitting for only one exam to obtain CIMA membership and become Chartered Global Management Accountants.

The fast track CFO Programme is open to good standing members of VAA and the CFO Club who are Chief Financial Officers or equivalent and who have more than 10 years relevant work experience in an established organisation in Vietnam. For more information on the CFO Programme, please contact Ms Nguyen Thi Thanh Ha, the CIMA Chief Representative in Vietnam, at ha.nguyen@cimaglobal.com.

MOU signing with Vietnam Association of Accountants and Auditors

MOU signing with the Vietnam CFO Club

CIMA also signed an MOU with the University of Economics Ho Chi Minh City (UEH) on 17 June 2015, through which Bachelor of accounting students from UEH are granted eight conditional exemptions from the CIMA professional qualification. This allows them to sit for one CIMA exam (the operational case study) in their final year at university and upon passing the exam, they will graduate with two qualifications – an accounting degree from UEH and the CIMA diploma in management accounting.

These students can subsequently complete the remaining CIMA exams after graduation or during employment, to gain CIMA membership and become Chartered Global Management Accountants. 

Undergraduates pursuing an accounting degree in Chulalongkorn University and Assumption University will now be able to obtain the CIMA professional qualification in a much shorter time. This fast track route is provided under a Memorandum of Agreement (MOA) signed with these two universities on 6 May 2015.

Under the agreement, students will sit for the CIMA exams during their final year at university. Upon successful completion of this exam, they will graduate with two qualifications – an accounting degree from the university and the CIMA Diploma or Advanced Diploma in Management Accounting – which are recognised by employers worldwide. They can then complete the full CIMA qualification after graduation, which can also be completed on a part-time basis while working.

Upon completing the CIMA qualification and gaining three years of relevant work experience, they will become members of CIMA and Chartered Global Management Accountants (CGMA). CGMA is a global professional designation conferred by CIMA and the American Institute of Certified Public Accountants (AICPA).

MOA signing with Chulalongkorn University

MOA signing with Assumption University

Students in Thailand wishing to pursue the CIMA qualification can now study at Finn College of Business & Tourism. The college is CIMA’s first Global Learning Partner in Thailand under a Memorandum of Agreement signed on 7 May 2015. Finn College will prepare students for the CIMA exams.