CIMA signs a ground-breaking Membership pathway agreement with SAICA in South Africa
Are you a CA (SA) and you want to become a CIMA member [CGMA] or are you a CGMA and you want to become a SAICA member [CA (SA)]?
The Association of International Certified Professional Accountants (the Association) and the South African Institute of Chartered Accountants (SAICA) today announced an agreement that further advances the accounting profession in South Africa 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 experience 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; a worldwide network of 650,000 professionals and students; and an expansive portfolio of tools to develop their competencies across practice 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.
The MPA will be valid for five years and allows members of SAICA to gain full CIMA membership and the Chartered Global Management Accountant (CGMA) designation. The new pathway is open to all SAICA members that meet CIMA’s Practical Experience Requirement (PER). SAICA members with relevant work experience of between three to nine years will have to pass CIMA’s Strategic Case Study (SCS) exam and the E3 Strategic Management exam. Those with at least ten years relevant work experience will only have to pass the SCS exam.
At the same time, CIMA members are now able to gain SAICA membership, they must write and pass the ITC (Initial Test of Competency). Additionally, CIMA members who have up to five years’ post-qualification work experience must complete 24 months of SAICA training. Applications of members with up to ten years work experience will be individually assessed and those with more than ten years’ work experience will not require the completion of SAICA training.
Badibanga Promesse, the Association’s Regional Vice President for Management Accounting in Africa said: “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 CEO, Dr Terence Nombembe echoed 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. That is how we will live up to the task of enhancing the value to our profession, as set out in SAICA’s vision 2020.”
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