Advancing the accounting profession
The
proposal
The American Institute of CPAs is proposing to join forces with the Chartered Institute of
Management Accountants (CIMA) to create a new accounting association while continuing
to operate the membership bodies our communities have long trusted. Together the
American Institute of CPAs and CIMA would significantly enhance advocacy, member
employability and our abilities to advance the accounting profession around the world.
Proposal
highlights
• The proposal is an evolution of the joint venture the
American Institute of CPAs and CIMA began in 2011.
• The American Institute of CPAs would continue to
exist, serve members, grow the pipeline of future
CPAs and promote and protect the CPA.
• The American Institute of CPAs would continue to
focus on, serve and seek to enhance quality and
competencies in core areas such as audit, financial
reporting and tax, along with specialized service areas.
• The American Institute of CPAs’ commitment to ethics,
quality and protecting the public interest would remain
as strong as it has been for more than 100 years.
• The American Institute of CPAs’ Council would
remain unchanged.
• In addition, all members of the American Institute
of CPAs and CIMA would automatically become
members of the Association of International
Certified Professional Accountants, which is the
name of the existing joint venture.
• Dues would not be affected by this proposal.
• Through the Association, the American Institute
of CPAs and CIMA would integrate our strategies,
management and operations to advance the entire
profession — public and management accounting.
• The Association would represent an even stronger
voice in advocacy efforts, speaking with the power
of more than 600,000 current and next-generation
accounting professionals in the U.S. and worldwide.
• The integration would create efficiencies to deliver
better and more relevant member resources.
About CIMA
Protecting, promoting
and growing the U.S. CPA
The CPA designation is widely respected
for its core values of quality, competency
and integrity. Those core values are critical
in today’s complex and rapidly changing
business environment, and this proposal would
keep them at the hub of the U.S. accounting
profession and extend those values throughout
the financial system. It fits into a larger portfolio
of initiatives by the American Institute of CPAs
to protect the CPA designation and what it
stands for. Here are a few examples:
– Enhancing Audit Quality
– Future of Practice Monitoring
– Employee Benefit Plan Audit Quality Center
– Governmental Audit Quality Center
– Financial Reporting Center
– Firm Practice Management/
Private Companies Practice Section
– Technical Hotline (for A&A inquiries)
– Tax Section and Tax Advocacy
– Center for Plain English Accounting
– Future of Learning
CPA pipeline initiatives
– Start Here, Go Places.
– Bank on It Game
– ThisWayToCPA
– The EDGE newsletter
– Accounting Doctoral Scholars Program
– Extra Credit newsletter
– State society pilots
– Beta Alpha Psi partnership
The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world’s leading and largest
professional body of management accountants, with over 227,000 members and students operating in 179 countries,
working at the heart of business. CIMA members and students work in industry, commerce, government and
not-for-profit organizations. CIMA works closely with employers and sponsors on leading-edge research.
In 2011, the American Institute of CPAs and CIMA formed a joint venture to professionalize management
accounting in the U.S. and around the world. In 2012, we launched the CGMA designation and set out
to provide members with a new level of thought leadership, tools, resources and recognition. The joint
venture has had great success:
• 150,000 professionals, including more than
50,000 CPAs in business and industry, are CGMAs.
It is the most widely held management accounting
designation in the world.
• CGMA Competency Framework, based on
extensive research with employers, defines the
skills management accountants need today and
in the future.
Why now?
The American Institute of CPAs must act now to
preserve the relevance and value of the accounting
profession to future generations. Environmental
trends are altering the face and expectations of
the next generation. Increased complexity is driving
the need for more specialized and strategic skills.
Organizations with less rigorous credentials are
positioning themselves to leverage these trends
and tap into this demand.
This proposal would allow the American Institute
of CPAs and CIMA to integrate operations, strategy
and management to further advance advocacy,
achieve economies of scale and better support
accounting professionals. Benefits would include:
• Creation of the most influential body of
professional accountants, building on the strengths
of the American Institute of CPAs and CIMA, to
make the accounting profession indispensable.
• Enhanced advocacy, with the voice of more than
600,000 current and next-generation professionals
to help shape policies in the public interest.
• Extend the CPA’s core values of quality,
competency and integrity across the entire
accounting profession.
• Broader platform to talk with students and
graduates about your designations, and options
within the entire accounting profession.
• AICPA | CIMA Competency and Learning website
gives members a single destination for all of their
skills and development needs.
• Global Management Accounting Principles help
businesses, large and small, anywhere in the world,
put in place effective management accounting
practices.
Benefits for you
ADVANCEMENT
World-leading professional support
Wherever you are, wherever you work – we’re
with you, promoting the profession and
cultivating demand. We bring the reputation,
reach, resources and rigor to open opportunities
– and help you go further with exponentially
more ways for you to maximize your career.
ADVANTAGE
Hone your professional edge
The Association will provide you with
the latest research, market insights and
technology trends to fine-tune your talent
throughout your career. We will bring you
what you need to prepare – and progress.
You’ll know more, do more, be more.
ADVOCACY
A stronger voice on behalf
of the accounting profession
The Association will be a global accounting
force representing more than 600,000
current and next-generation professionals.
It will be the most powerful advocate for
the accounting profession on all issues.
• Accelerated development and delivery of
streamlined and relevant resources.
Timeline
The American Institute of CPAs’ Board of Directors supports the JV evolution and has asked for member
feedback. Depending on feedback, Council could consider authorizing a membership ballot in the spring.
CIMA has a similar voting requirement and timeline; its Council supports the direction.
Learn more
Visit aicpa.org/horizons for more information about the proposal and to share feedback.
Copyright © 2015 American Institute of CPAs. 18749-312
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