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The Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) have partnered on a new Financial Leadership and Performance strategic initiative to support the career development goals of Chief Financial officers (CFOs) and other professionals while also signing a Mutual Recognition Agreement between the two organizations.
The Financial Leadership and Performance Initiative was launched on June 23 during the IMA’s annual meeting of members as part of the IMA’s Annual Conference & Exposition in New Orleans. As part of the initiative, ACCA and IMA will support professionals through a new co-sponsored website, www.roleofcfo.com, a resource for finance leaders, containing ACCA and IMA reports, research and insights. They will also collaborate on CFO Pathways, a research report covering the future of CFOs’ work, their role and their changing career paths. In addition, the two organizations also plan to develop continuing professional development and continuing professional education resources that focus on financial leadership and performance, including articles, webinars, videos and e-learning courses.
“Both our credentials are the result of rigorous qualification and assessments, with a clear commitment to producing ethical, reputable and high performing members,” said ACCA president Barry Cooper in a statement. “Together, we understand the issues and drivers of success for the CFO and the finance team. The announcements, including flexible pathways to our respective exams and compelling CFO resources, are indicative of our commitment to sustainable organizational success,” he added. The ACCA and IMA also signed a Mutual Recognition Agreement (MRA), approved by the Institute of Certified Management Accountants’ (ICMA) Board of Regents and the ACCA’s Council, to mark the one-year anniversary of the organizations’ strategic partnership. The agreement will enable members of both organizations, subject to standard conditions of membership, a clear pathway to one another’s credentials based on a rigorous content and curriculum review of the IMA’s Certified Management Accountant or ACCA’s professional membership. The Mutual Recognition Agreement will take effect early next year.
“Collectively, ACCA and IMA represent 653,000 members and candidates, with a unique global network of 89 offices and centers around the world, including more than 200 local chapter communities,” said IMA chair John Macaulay. “With today’s announcements, we have the opportunity to deliver even more value to the global profession, supporting CFOs and those aspiring toward that goal. We will continue to support excellence in management accounting through tested certification.”