KINGSTON: (November 9, 2020) – In a first of its kind, the American Institute of Certified Professional Accountants (AICPA) and the Institute of Chartered Accountants of Jamaica (ICAJ) have formally agreed to work together to train more management accountants in Jamaica. The partnership offers accounting and finance professionals the opportunity to future-proof their skills by earning the Chartered Global Management Accountant (CGMA) designation, which is the most widely held management designation in the world.
Through this agreement, professionals would also gain membership to the AICPA and the Association of International Certified Professional Accountants (the Association), the world’s largest body of accounting professionals, representing 650,000 members and students from the AICPA and the Chartered Institute of Management Accountants (CIMA).
This Memorandum of Understanding (MOU) will help Jamaica create a pipeline of future-ready professionals who can drive decision making and help organisations reimagine their business for the new normal. This partnership is the first of its kind between the AICPA and ICAJ, highlighting the growing demand for accounting and finance professionals with an expanded skillset that includes strategic thinking, business partnering and digital skills.
“Organisations are increasingly seeking professionals who can provide data-driven business intelligence to help them prepare for the future,” said AICPA President and CEO, Barry Melancon, CPA, CGMA. “Our partnership with ICAJ will offer accounting and finance professionals, and those looking to enter the profession, the opportunity to strengthen their skillsets and enhance their employability through the CGMA designation.”
“The Institute of Chartered Accountants of Jamaica (ICAJ) is pleased to partner with the AICPA to offer the CGMA Finance Leadership Programme to members of the accountancy profession in Jamaica,” said Sixto Coy, FCA, FCCA, MBA, ICAJ President. “The initiative, led locally by ICAJ, is a positive step towards the further advancement of the profession. ICAJ encourages Chartered Accountants and qualified accounting students to access the expedited pathways to the CGMA designation for their professional development and the greater good of our nation.”
About the Memorandum of Understanding (MOU)
The agreement provides an expedited pathway to the CGMA designation for ICAJ members and students, and a pathway to individuals who are not yet ICAJ members who wish to enter the accountancy profession and join ICAJ. Individuals can earn the CGMA designation through the CGMA Finance
Leadership program , an online, personalized learning experience that helps professionals develop the digital, technical, business, leadership and people skills critical in today’s rapidly changing world.
Candidates can enter the programme at three different levels, dependent on their education and experience. Upon commencement, they become members of both the AICPA and the Association–gaining access to the latest insights, tools and learning opportunities to help them sharpen their skills and deliver even greater value to their organisations.
As they progress through the programme, they are assessed on their ability to apply their knowledge to real-world business situations. Upon completion, and after meeting rigorous education, experience and exam requirements (including passing the final Strategic Case Study Exam), candidates are awarded the CGMA designation. They join an influential network of 137,000 like-minded peers who are leading organisations worldwide to achieve sustainable success.
About the Chartered Global Management Accountant (CGMA)
CGMA is the most widely held management accounting designation in the world with more than 137,000 designees. It was established in 2012 by the AICPA and CIMA to recognise a unique group of management accountants who have advanced proficiency in finance, operations, strategy and management. In the U.S., the vast majority are also CPAs. The CGMA designation is built on extensive global research to maintain the highest relevance with employers and develop the competencies most in demand. CGMA designation holders qualify through rigorous education, exam and experience requirements.
About the Association of International Certified Professional Accountants (AICPA)
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 650,000 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, CGMA designation holders and accounting and finance professionals globally.
About The Institute of Chartered Accountants of Jamaica (ICAJ)
ICAJ was founded on January 18, 1965 and is the Jamaican body responsible for regulating the designation “Chartered Accountant” and “Fellow Chartered Accountant”. ICAJ is recognized in Jamaica as the voice that actively represents the views and interest of members to industry, regulators, government, academia and the general public. As a member body of IFAC, ICAJ also contributes to policy making at the international level and ensures that members operate in accordance with international standards. ICAJ has over 1,400 members and 3000 registered students.