FREQUENTLY ASKED QUESTIONS

Questions? Find the answers to frequently asked questions about the CGMA designation.

The American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA) formed a joint venture in 2011 to elevate management accounting around the world. The JV has had significant success, starting with the Chartered Global Management Accountant (CGMA) designation launched in 2012. The CGMA recognises professionals who meet the highest benchmark of quality, competency and integrity. Today, more than 150,000 management accountants worldwide hold the CGMA designation. In addition, through the joint venture, the AICPA and CIMA developed Global Management Accounting Principles to define best practice in management accounting; introduced the CGMA Competency Framework to define the skills management accountants need today and into the future; and built the AICPA | CIMA Competency and Learning website, which provides members a single destination for all of their skills and development needs.

AICPA and CIMA members in 2016 voted to deepen the relationship, approving the creation of a new international accounting association to advance both public and management accounting around the world. The Association of International Certified Professional Accountants (the Association) will be formed in early 2017.

The joint venture board is composed of 50 percent AICPA and 50 percent CIMA representation; The Chair will rotate between the AICPA and CIMA on a 12-month basis. The AICPA’s CEO will serve as the President and CEO of the joint venture. CIMA’s current CEO will serve as Senior Vice President – Management Accounting. Find out more about joint venture governance.

If the joint venture is successful, other options, including adding other accounting bodies, could be considered in the future.

No. The AICPA-CIMA joint venture does not allow for exemptions surrounding requirements for the U.S. Uniform CPA Examination or for AICPA membership.

The AICPA/CIMA Joint Venture Board has been established and is responsible for the designation. No new committees or boards are expected.

CGMA designation holders should check cgma.org periodically to check on events that may be of interest.