The Institute of Management Accountants (IMA) has reached 100,000 members for the first time since its creation 99 years ago, and intends to further expand into India, Saudi Arabia and Brazil.
IMA reported total membership year on year growth of 23% from January 2017 to January 2018. For IMA president and CEO Jeff Thomson, this growth is representative of increased globalisation and especially from businesses in growing economies.
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Further, IMA has seen a 75% increase in the number of Certified Management Accountant (CMA) candidates in the last year, and also launched the Certified in Strategy and Competitive Analysis (CSCA) credential in 2017 to build on the CMA credential with a focus on strategic planning and analysis skills.
Thomson added: “Through IMA membership and the CMA certification, our mission is to help professionals prepare and remain competitive in the future as automation impacts our profession.”
Regarding the future of IMA, Thomson told The Accountant that there are plans to have a stronger presence in Indian and Saudi Arabian markets within the next three to 12 months. He added that there is also a long term investment and engagement plan over the next three years in Brazil, in cooperation with the Brazilian management accounting body National Association of Finance, Administration and Accounting Executives (ANEFAC).
“Brazil’s environment is very heavily regulated. As these markets evolve towards managerial accounting – forward looking financial planning and merger and acquisition, not the hard-core technical accounting,” Thomson said.
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By GlobalDataAs automation, artificial intelligence, and blockchain, open up opportunities for higher-level advisory skills, IMA expects its qualification to further gain in relevance and as result membership to continue growing.
