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ICWAI - MOU - CMA (Canada) - IMA (US)


After successfully entering into MOU with CIMA (UK),

ICWAI to enter into MOU with CMA Canada and IMA (US) very soon.

Regards,

Devarajan

Source: ICWAI President's message

http://www.icwai.org/icwai/institute-presi-msg.asp

"

The Institute is also organizing a function at New Delhi on 9th January 2009 where Shri Prem Chand Gupta, Hon’ble Minister for Corporate Affairs will make formal announcement regarding our Course on Certificate in Accounting Technicians (CAT). I am glad to inform you that the relevant authorities have already approved the Memorandum of Understanding entered into by the Institute with CIMA, UK and the Hon’ble Minister will be announcing the details at the function scheduled on 9th January 2009. I take this opportunity of informing you that the Institute is also in the process of entering into MOU with Institute of Management Accountants, USA as well as CMA Canada. All these agreements will be extremely beneficial for the members of our profession. "

 

 

 


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I am Myself a member of IMA USA, and have completed the CMA exams , either wise an MOU with the ICWAI in India would be good for professionals like us who have difficulty in getting employed because of being qualified with a degree very few have heard about(Especially in India, abroad it is a different scenario)


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ICWAI signs pact with US institute



Our Bureau


New Delhi, April 30 The Institute of Cost and Works Accountants of India (ICWAI) has entered into a memorandum of understanding (MoU) with the Institute of Management Accountants (IMA), USA.

The MoU will enable recognition of the professional qualification of the respective institutes. Both the institutes will develop the profession of management accountancy for the benefit of their members and students.

According tothe MoU, a member of ICWAI can get enrolled as a member of IMA USA and vice-versa. However, an IMA member enrolling as a member of ICWAI will not be allowed to hold a certificate of practice to undertake any statutory work in India.

“ICWAI will enhance its global presence through this MoU and members of both the institutes will immensely benefit from recognition of both certifications. The MoU will also help in applied research in areas of specific interest related to management accounting”, Mr Kunal Banerjee, President of ICWAI, said in a statement here.

http://www.thehindubusinessline.com/2009/05/01/stories/2009050151851000.htm

 
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Now CMA Canada is the only Management Accounting body with which the Institute of Cost and Works Accountants of India has to have a MRA (Mutual Recognition Agreement). That too is in process and will happen soon.

 

Now global Management Accounting bodies have also recoganized ICWAI as a Management Accounting body. Not that there was ever a shred of doubt.

 

Having said that, now the next logical step would be for the Government of India to heed to the legitimate demand of the ICWAI for a Name Change at the earliest.

 
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IMA Signs Joint Partnership with Institute of Cost and Works Accountants of India; Mutual Recognition Between CMA and ICWAI Certifications

To reflect the globalization of business and the importance of sound management accounting practices in all parts of the world, IMA® and the Institute of Cost and Works Accountants of India (ICWAI), a statutory body enacted under an Act of Parliament of India, have entered into a joint partnership agreement.  At the cornerstone of the partnership is a mutual recognition of each organization’s respective certifications, allowing automatic award of IMA’s Certified Management Accountant (CMA®) certification for ICWAI’s Cost and Works Accountant (CWA) certificate holders.  With 42,000 qualified professionals, ICWAI is the regulating authority of the cost and management accounting profession in India. 
 
“The ICWAI is a highly regarded organization in one of the fastest growing economic centers in the world,” said Dennis Whitney, CMA, CFM, IMA senior vice president of certification.  “This agreement will help IMA further its global presence and will enhance the profile of the CMA certification.  ICWAI certified professionals will be able to enjoy the global recognition and mark of distinction that comes with holding a CMA certificate.” 
 
“IMA and ICWAI have a long history of working together on research and conferences and this agreement is the next step of a productive relationship,” said Jim Gurowka, IMA director of international development.  “The demand for highly-skilled management accountants in India is growing and presents a great opportunity for IMA and the CMA.” 
 
According to Mr. Whitney, the decision to recognize the ICWAI certification came following a thorough review by the Institute of Certified Management Accountants (ICMA®) Board of Regents and ICMA professional staff.  Exam content and cognition levels of exam questions were evaluated to ensure that the two exam programs were of similar scope.   
 
“Management accountancy is a global profession and the signing of this historic Memorandum of Understanding will enable both organizations to highlight the benefits of a professional management accountancy qualification, to share best practice and to train and develop the global business leaders of the future. The global presence of the ICWAI will also be enhanced and members of both Institutes will benefit immensely,” said Kunal Banerjee, president of ICWAI.
 
Besides mutual recognition of the certifications, IMA and ICWAI will pursue joint applied research projects, develop management accounting guidelines and standards, and develop continuing education programs for members of both organizations. 
 
For more information about obtaining mutual certification, please contact IMA Member Services at 1-800-638-4427 (North America) or +1-201-573-9000 (Outside of North America), or by e-mail at ima @ imanet.org or view Frequently Asked Questions.

http://www.imanet.org/newsletter/article.asp?NID=111&AID=1532

 
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Procedure for for ICWAI members to get membership of IMA - USA. Visit the link below.

 

www.icwai.org/icwai/docs/iima_mem_proc.pdf

 
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Hey thats a very good news.

Thanks

 
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Business Analyst


Any idea by what date ICWAI will enter into MOU with CMA Canada?????

 
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Satya Hi,

 

No clue by when, but discussions are still on.

 
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Ramsey & associates Co.Ltd

hello

i am interested to know is there is any chance for MOu in between ICWAI and CMA Canada., if yes howmuch time it is likely to take

thanks

 
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