ICWAI and CIMA, UK has entered into a Memorandum of Understanding (MoU) and has agreed
to work towards recognizing the professional qualifications of each other. Other important
aspects of the MoU are co-operation in conducting Applied Research on Management
Accounting, exchange of study materials; development, updating and exchange of curriculum;
conduct seminars, conferences and joint activities; development of management accounting
guidelines and ensure high ethical standards of the profession and its members.
Under the MoU, CIMA has agreed to exempt following papers for the ICWAI candidates who
have successfully passed the final examination of the ICWAI syllabus.
a) Complete exemption from