By Durrant Pate
The American Institute of Certified Professional Accountants (AICPA) has teamed up with the Institute of Chartered Accountants of Jamaica (ICAJ) to to train more management accountants in Jamaica.
Through this first of its kind agreement in Jamaica, local accounting professionals can gain membership to the AICPA as well as the Association of International Certified Professional Accountants, the world’s largest body of accounting professionals. This body represents some 650,000 members and students from the AICPA and the Chartered Institute of Management Accountants (CIMA).
The partnership between the two accounting certifying bodies in Jamaica and America will offer accounting and finance professionals the opportunity to future-proof their skills by earning the Chartered Global Management Accountant (CGMA) designation. This designation is the most widely held management designation in the world.
Both the AICPA and ICAJ have recently signed a memorandum of understanding which 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. The partnership between the AICPA and the ICAJ highlights the growing demand for accounting and finance professionals with an expanded skillset that includes strategic thinking, business partnering and digital skills.
Commenting on the partnership, Barry Melancon, AICPA president and CEO, said “organisations are increasingly seeking professionals who can provide data-driven business intelligence to help them prepare for the future”.
According to Melancon, “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”.
For his part, ICAJ President Sixto Coy remarked: “The Institute of Chartered Accountants of Jamaica is pleased to partner with the AICPA to offer the CGMA Finance Leadership Program to members of the accountancy profession in Jamaica… . The initiative, led locally by ICAJ, is a positive step towards the further advancement of the profession.”
Coy said the ICAJ was encouraging local chartered accountants and qualified accounting students to access the expedited pathways to the CGMA designation for their professional development and the greater good of the nation.
DETAILS OF MOU
The MOU 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 the ICAJ. Individuals can earn the CGMA designation through the CGMA Finance Leadership programme, which is an online, personalised learning experience.
The programme is aimed at helping accounting professionals develop the digital, technical, business, leadership and people skills critical in the rapidly changing world. Candidates can enter the programme at three different levels, dependent on their education and experience.
On commencement of the programme, candidates become members of both the AICPA and the Association thereby 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, candidates are assessed on their ability to apply their knowledge to real-world business situations.
On completion, and after meeting rigorous education, experience and exam requirements (including passing the final Strategic Case Study Exam), candidates are awarded the CGMA designation. On successful completion of their examination candidates join an influential network of 137,000 like-minded peers, who are leading organisations worldwide to achieve sustainable success.