We are certainly very much looking forward to seeing the doors that this agreement will soon open, and we are sure you will be! The MPA is not permanent, it is for 5 years, so it remains to be considered as a measure of its success – over the next 5 years, what percentage of more than 2000 CGMAs in South Africa (and about 130,000, worldwide) will try to take advantage of this agreement and try to get the coveted CA (SA) name, contrary to what percentage of more than 42,000 CAS (SA) will take revenge in trying to become CGMAs. The CGMA reports mastery of management accounting worldwide and is held by more than 150,000 professionals worldwide. SAICA members who qualify for the CGMA will also be members of CIMA and the Association and will receive support from the world`s most influential accounting body; A global network of 650,000 professionals and students; and a vast portfolio of tools to develop their skills in all areas of practice. SAICA will confront each other and offer an accelerated path to CA membership and qualification (SA) for legitimate holders of the CGMA designation. The agreement between the organizations is maintained for five years. The MPA is valid for five years and allows SAICA members to obtain full membership in CIMA and the Chartered Global Management Accountant (CGMA). The new route is open to all SAICA members who meet CIMA`s practical requirements. SAICA members with three to nine years of professional experience must pass the CIMA Strategic Case Study (SCS) exam and the E3 Strategic Management Review. If you have at least 10 years of professional experience, all you have to do is pass the SCS exam. At the same time, CIMA members can now acquire SAICA membership, they must write and pass the ITC (initial competency test).
In addition, CIMA members who have 5 years of professional experience after qualifying must complete a 24-month SAICA training course. Applications from members with up to ten years of professional experience are subject to individual evaluation and those with more than ten years of professional experience do not require a SAICA FORMATION diploma. Badibanga Promise, Regional Vice President for Management Accounting in Africa, said: “This groundbreaking agreement reflects our commitment to promoting a dynamic accounting business that can meet the needs of a rapidly changing world. It expands opportunities for the most qualified professional accountants from across South Africa and improves the breadth of their knowledge and the quality of ideas they can offer. SAICA CEO Terence Nombembe agreed with this assessment and said that one of the most important strategic priorities for SAICA`s future is the best way to work together, both inside and outside, for the benefit of members and the profession. “We need to work with our stakeholders like CIMA to make sure we deliver the best to our members. In this way, we are up to the task of increasing the value of our profession, as described in SAICA`s 2020 Vision. SAICA will confront each other and offer an accelerated path to CA membership and qualification (SA) for legitimate holders of the CGMA designation. The agreement between the organizations is maintained for five years.
For more information and contact information, see: www.saica.co.za/LearnersStudents/Examinations/CIMARecognition/tabid/471/language/en-ZA/Default.aspx Badibanga Promise, Regional Vice President for Management Accounting in Africa, said: “This revolutionary agreement reflects our commitment to promoting a dynamic accounting business capable of meeting the needs of a rapidly changing world.