The Institute of Cost and Management Accountants of Pakistan and the Chartered Institute of Management Accountants, United Kingdom have signed a Memorandum of Agreement (MoA) to enable mutual cooperation of the two Institutes to develop the profession of management accountancy for the benefit of their members and students in the pursuit of excellence in education and training and continuing professional development in management accountancy.
On behalf of ICMAP, the signing ceremony was attended by Kashif Mateen Ansari, President and Mohammad Iqbal Ghori, Vice President of ICMAP along with other National Council Members and Muhammad Kamran Jamil, Executive Director, ICMAP. CIMA was represented by Andrew Harding, Managing Director of CIMA, and Javaria Hassan, Head of CIMA Pakistan. Andrew Harding signed the MoU on CIMA's behalf whereas Kashif Mateen Ansari, President is the signatory on behalf of ICMAP.
According to the MoA, CIMA has granted Fellow members of ICMAP, exemptions in 16 assessments leading upto the Strategic Case Study examination. Associate members of ICMAP are granted exemptions in 15 assessments leading to the Strategic level of the 2015 CIMA Professional qualification.
Similarly, ICMAP has offered exemptions in 18 courses allowing fellow members of CIMA to pass two gateway examinations ie, (i) Local Laws Gateway covering Business and Corporate Laws and (ii) Professional Module Gateway covering Audit, Risk Management, Insurance, Banking and Finance to obtain ICMAP's professional qualification. The Associate members of CIMA will need to pass one additional course of Investment Analysis and Portfolio Management [BAF-402] with the two Gateways to obtain ICMAP's professional qualification.
CIMA has agreed to recognize the relevant practical experience gained by ICMAP members both pre and post joining the qualification. ICMAP members will submit their membership application based on CIMA's practical experience requirements. On successful assessment and validation of the membership application, ICMAP members will be awarded the relevant CIMA designation (ACMA or FCMA) and the Chartered Global Management Accountant (CGMA) designation. Similarly, ICMAP will accept the practical experience requirements of CIMA when awarding the ACMA/FCMA designation. By virtue of the MoA, CIMA will recognize ICMAP as a strategic partner in Pakistan whereas ICMAP will support CIMA in promoting the science and profession of Management Accounting in Pakistan.-PR
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