The Chartered Institute of Management Accountants removes exemption fees

CIMA sets new sector standard to encourage accessibility and social mobility in efforts to help create a diverse, dynamic and future-ready accounting profession

The Chartered Institute of Management Accountants (CIMA), the world’s largest body of management accountants, announced that it will end the practice of charging exemption fees for new students, who hold a relevant degree or qualification, to encourage accessibility and social mobility. This is a first amongst professional bodies in the accounting sector.

Effective from 1 August 2019, the change will apply to all new exemption applications made by students registered to study for the CIMA Certificate in Business Accounting and the CIMA Professional Qualification. The change comes about to encourage more CIMA students to start their studies and further support their career development.

Backed by the Association of International Certified Professional Accountants, the unified voice of CIMA and the AICPA, the CIMA Professional Qualification is recognised around the world as the most relevant finance programme for professionals seeking a career in business.

Updated in January 2019, it now also includes trending and future-focused topics such as digital strategy, blockchain and artificial intelligence, to help CIMA students reach their full potential and navigate change in a digital business world.

There are currently over 117,000 students across 156 countries progressing towards completing their CIMA Professional Qualification and earning the Chartered Global Management Accountant (CGMA) designation.

Tim Simba, Regional VP – CIMA Africa explained that the removal of the exemption fee has the potential to help CIMA students contribute to building new skills, furthering their career and uplifting their communities:

“The CIMA qualification and CGMA designation equips CIMA students, whether they are high school or university graduates or working professionals, with the skills they need to progress their career and uplift their communities by contributing positively to society.

The removal of exemption fees will make accessing the Qualification easier, and in the process assist CIMA students to develop the skills they need to further their careers and contribute to a flourishing economy.”

Andrew Harding FCMA, CGMA, Chief Executive – Management Accounting said:

“CIMA students come from many different backgrounds and countries with a variety of educational experiences and qualifications, and the Institute believes that students should not be put at a disadvantage for undertaking prior learning in the accounting field.

By removing a significant barrier to entry into CIMA qualifications, we want to offer the opportunity to build a successful and sustainable career to as many individuals as possible and help create a diverse, dynamic and future-ready workforce.

He continued: “We are setting a new standard for the accounting profession, and hope that other professional bodies will join us in delivering greater accessibility and equity into the profession.”

About The Chartered Institute of Management Accountants

The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world’s leading and largest professional body of management accountants. As part of The Association of International Certified Professional Accountants (the Association), its members and students operate in 179 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organizations.

CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders.

About the Association of International Certified Professional Accountants

The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide.

It represents 657,000 members and students in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues.

With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.