Agreement advances profession in SA
The Association of International Certified Professional Accountants (the Association) and the South African Institute of Chartered Accountants (Saica) have announced an agreement that advances the accounting profession in South Africa and beyond by broadening access to their professional qualifications and resources.
The Association, through the Chartered Institute of Management Accountants (CIMA), will provide an expedited pathway to the Chartered Global Management Accountant (CGMA) designation for Saica members who meet theexperience and exam requirements.
The CGMA signals mastery of management accounting globally and is held by more than 150 000 professionals around the world.
Saica members who qualify for the CGMA will also earn membership in CIMA and the Association, gaining the support of the world’s most influential body of accountants and an expansive portfolio of tools to develop their competencies across practical areas.
Saica will reciprocate, providing an accelerated route to membership and the CA (SA) qualification for eligible CGMA designation holders.
The agreement between the organisations will remain in place for five years.
Badibanga Promesse, regional vice-president: Africa at CIMA says: “This groundbreaking agreement reflects our commitment to driving a dynamic accounting profession equipped to meet the needs of a rapidly changing world.
“It expands opportunities for the most highly qualified professional accountants across South Africa, enhancing the breadth of their knowledge and the quality of insight they can provide.”
Saica chief executive Dr Terence Nombembe echoes this sentiment, stating that for Saica, one of the key strategic focuses going forward is how to best collaborate, both internally and externally, for the benefit of members and the profession at large.
“We need to work together with our stakeholders, such as CIMA, in order to ensure we offer the best to our members.”
Dr Sara Bux, associate director Southern Africa, explains that through the membership pathway agreement (MPA) the two organisations have advanced the accounting profession by broadening access to professional qualifications and resources.
“The MPA is an expression of the longstanding relationship that already existed between Saica and CIMA.
“Both organisations belong to the International Federation of Accountants, so it was just a matter of time before the MPA was reached after a technical competency alignment was achieved to concretise the synergies between the two organisations’ competency frameworks,” says Bux.
She contends that the MPA improves the value proposition of CIMA and Saica with increased local and global recognition of qualifications; members’ access to dual designation; and global portability of competencies.