The Institute of Management Accountants has welcomed the looming entry of the American Institute of CPAs into its arena with a proposed new designation for management accountants. The IMA said the AICPA's effort, in a proposed joint venture with the Chartered Institute of Management Accountants, shows the importance of management accounting.
"This is positive news for management accountants and their organizations," the IMA said in a prepared statement. However, the IMA said its Certified Management Accounting program sets the gold standard for the profession. And it declined to comment on the fact that in the United States, anyone receiving the new AICPA designation would need to also be a CPA.
The proposal needs approval from the governing councils of both the CIMA and the AICPA. Those votes are expected to be conducted in May.
In fiscal 2010, the IMA expanded its efforts to increase membership internationally and formed four new international chapters, bringing the total outside of the United States to 16, according to the organization's 2010 annual review. Membership increased to 63,893 in 2010, up 8.6 percent from 58,357 in fiscal 2090. The organization had particularly strong growth in the Middle East where membership rose by 80 percent to about 12,000.
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