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November 26, 2009

CIMA enters first US training partnership with the World Bank

The UK-based Chartered Institute of Management Accountants (CIMA) has entered its first quality training partner agreement with an organisation based in the US.

CIMA has almost 4,000 training partner agreements, of which about 800 are quality partners. A large number of these organisations are based in the UK, but there are also many from other jurisdictions.

The new agreement is with the World Bank’s resource management function, which performs the financial and management accounting role at the bank.

According to CIMA, it is the first UK-based accountancy body to enter into an agreement with the World Bank to train finance and accounting employees in a professional accountancy qualification.

The partnership will initially involve just a small number of trainees and be limited to the US.

However, CIMA chief executive Charles Tilley says there is significant scope for growth around the world.

The World Bank employs about 10,000 people from more than 160 countries.

“The finance function has a key role in supporting effective governance, delivery of strategy, also in the whole area of performance management, which is about managing resources, managing risk, and then ultimately the reporting,” Tilley said.

“Those skills are really required across all organisations, but particularly in organisations which are have a very wide range of activities across the world and are involved in very significant projects.”

Quality training partners must provide a complete programme of support to employees studying for the CIMA qualification.

Other attributes CIMA looks for in quality training partners include a culture of training and support within the organisation, mentoring support, financial support for the tuition and study guides, and support in terms of time off for study.

“We are very excited about the fact that this is our first quality training partner in the US and it is great to start with an organisation of the prestige of the World Bank,” Tilley said.

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