Los Angeles, California. The Institute of Management Accountants (IMA) held on Sunday an annual general meeting to share with its membership the strategy of the US global accountancy body’s board of directors and review financial year 2014-2015.
At the AGM, part of the institute’s annual conference agenda being held in Los Angeles, IMA chair Joseph Vincent highlighted some of the milestones recorded in the year to June 2015.
One was the appointment of IMA as a full voting member of the International Integrated Reporting Council (IIRC) in December 2014, where it has been represented by IMA president and CEO Jeff Thomson.
Another milestone Vincent mentioned was the renewal of the strategic alliance with its partner the Association of Chartered Certified Accountants (ACCA) to continue their joint research program and "meet market and business needs", including trends predictions and forecasting.
Vincent also underscored IMA’s international expansion in new jurisdictions, such as India, and introduced chair elect Ben Mulling, a 34-year-old CFO of a US multinational who will receive the baton after the conference.
Thomson referred to the AGM as a genuine "shareholders meeting", despite IMA being a not-for-profit mission-driven organisation, and declared himself accountable to members and the board of directors.
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As such Thomson boasted of IMA’s strong balance sheet, up 10% in revenue from the previous financial year, and said: "if there is no money, there is no mission".
Thomson also said IMA total membership reached the 80,000 mark, an increase of 9%, the majority of which comes from new members abroad.
IMA conference’s official kick-off started with a keynote speech of Stephen Dubner, co-author of the bestselling books Freakonomics, SuperFreakonomics and Think like a freak.
The conference runs until Wednesday with a wide range of sessions covering finance topics from regulation to thought leadership.
Other keynote speakers include cofounder of ice cream brand Ben & Jerry’s Homemade, entrepreneur Jerry Greenfield, or former White House economic policy advisor, Todd Buchholz.