The Chartered Institute of Management Accountants (CIMA) and the Institute of Cost and Management Accountants of Pakistan (ICMAP) have signed an agreement to allow mutual advanced entry for students into both of the accountancy bodies' professional examinations. Hasan Bilgrami, President of ICMAP announced the signing of the agreement at the 19th Shoiab Memorial Lecture in Karachi.
The Memorandum of Understanding (MoU) between CIMA - the only international professional body with a sole focus on accounting for business - and the ICMAP Pakistan's leading management accounting body has been signed by leading officers of both institutes. This agreement will serve to strengthen the professional accounting links between the two institutes and will enable them to work together to enhance recognition of the profession and the science of management accounting globally.
The MoU introduces a new CIMA Professional Gateway examination for ICMAP associate and fellow members who have successfully completed all of the ICMAP's professional examination, enabling a 'fast track' route into CIMA's strategic level examinations, final tests of professional competence and ultimately CIMA membership.
CIMA students wishing to gain membership of the ICMAP have a 'fast track' route to ICMAP membership. The 'fast track routes' are also available to members of each institute. Emphasising the importance of the collaboration, Aubrey Joachim, CIMA President and Charles Tiltey, Chief Executive said in a joint statement.
"Management accountancy is a truly global profession and the signing of this latest MoU reflects this. This important collaboration with ICMAP will enable both Institutes to highlight the benefits of a professional management accountancy qualification internationally, to share best practice and develop the global business leaders of the future."
Hasan Bilgrami said: "We are pleased with the arrangement we have entered into with CIMA. It provides our members the opportunity to pursue a qualification that is globally recognised. This is also in line with the vision of ICMAP, which is supporting global mobility of its members with tie-ups such as these with recognised accounting bodies the world over. At the same time the MoU also reflects growing recognition and acceptance of our qualification."-PR