A merger between two of the largest
professional accounting bodies in the world, the Chartered
Institute of Management Accountants (CIMA) and the American
Institute of Certified Public Accountants (AICPA), could be
considered in the future.

CIMA told The Accountant that
although it is not part of the two bodies’ current plan to work
together through a joint venture, which will officially be launched
later this month, if the partnership is a success a merger or other
options “could be considered in the future”.

At the moment CIMA and AICPA intend to take
advantage of each other’s respective strengths through the joint
venture, which will create a new global management accounting
designation.

The Association of International Certified
Professional Accountants will not replace the AICPA or CIMA
designations but provides AICPA members an accelerated
pathway to obtain a management accountancy
qualification.

Both professional bodies will have equal
decision making through a 50:50 board with CIMA and AICPA rotating
the role of chairman.

 

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CIMA, AICPA to form global designation