Temat: What is CGMA?

THE JOINT VENTURE

The CGMA designation is powered by the AICPA and CIMA –
two of the largest and most respected accounting organisations in the world.



The CGMA is offered through the combined the expertise and outstanding global reputations of the AICPA and CIMA. The designation is offered to AICPA and CIMA members through a not for profit joint venture called the Association of International Certified Professional Accountants, formed in January 2012.

The joint venture is not a membership body. It supports the CGMA credential, advocates for management accounting on the global stage and manages joint AICPA-CIMA operations where appropriate.

The AICPA and CIMA are committed to making CGMA the leading global designation for business. Adding CGMA to existing AICPA and CIMA designations extends recognition to a truly global audience.

Governance
To determine the strategic direction of the CGMA programme and execute initiatives to support CGMAs, the AICPA and CIMA have established a joint venture: the Association of International Certified Professional Accountants.

The establishment of the joint venture does not fundamentally alter the governance of either the AICPA or CIMA. Each organisation recognises its partnership role and the importance of leveraging common operations to maximum strategic advantage.

The following describes the ownership and the governance of the AICPA-CIMA joint venture:

The joint venture is owned 60 percent by the AICPA and 40 percent by CIMA.
The joint venture board is composed of 50 percent AICPA and 50 percent CIMA representation.
The Chair will rotate between the AICPA and CIMA on a 12-month basis.
The AICPA and CIMA will designate a senior staff member to be part of the other organisation's senior management team to achieve coordination and cooperation.

Through this joint venture, both CIMA and AICPA governing boards/councils will gain broader perspectives of the global accounting profession by virtue of cross-representation on each association’s governing body.