Details of MOUs between ICWAI and CIMA- London

MoU Between ICWAI and CIMA, UK


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

CIMA Certificate Level comprising of the following five papers:

Paper C1

- Fundamental of Management Accountings.

Paper C2

- Fundamental of Financial Accounting.

Paper C3

- Fundamental of Business Mathematics.

Paper C4

- Fundamental of Business Economics.

Paper C5

b) Exemption from six papers of

- Fundamental of Ethics, Corporate Governance & Business Law.CIMA Managerial Level Examinations:

Paper P1

- Management Accounting Performance Evaluation.

Paper P2

- Management Accounting Decision Making.

Paper P4

- Organisational Management and Information Systems.

Paper P5

- Integrated Management.

Paper P7

- Financial Accounting and Tax Principles.

Paper P8

ICWAI qualified candidates will take direct entry to CIMA's Strategic Level examinations through

a “CIMA Professional Gateway Assessment” (CPGA). Following successful completion of the

CPGA an ICWAI student will be awarded the


- Financial Analysis.CIMA Advanced Diploma in Management.


On the reciprocal, the ICWAI has agreed to exempt CIMA qualified candidates as below:

a) Complete exemption from


Foundation Course examination which comprise of following 4

Paper 1

- Management Fundamentals.

Paper 2

- Accounting.

Paper 3

- Economics and Business Fundamentals.

Paper 4

b) Exemption from the other following 8 papers:

- Business Mathematics and Statistics.

Paper 5

- Financial Accounting.

Paper 8

- Cost and Management Accounting.

Paper 9

- Operation Management & Management Information Systems.

Paper 12

- Financial Management & International Finance.

Paper 13

- Management Accounting-Strategic Management.

Paper 15

- Management Accounting-EPM.

Paper 16

- Advanced Financial Accounting & Reporting.

Paper 18

- Business Valuation Management.

Chartered Accountant

thanks for sharing



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