MoU Between ICWAI and CIMA, UK A BRIEF 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 Paper C2 Paper C3 Paper C4 Paper C5 b) Exemption from six papers of Paper P1 Paper P2 Paper P4 Paper P5 Paper P7 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 Accounting 2 On the reciprocal, the ICWAI has agreed to exempt CIMA qualified candidates as below: a) Complete exemption from papers: Paper 1 Paper 2 Paper 3 Paper 4 b) Exemption from the other following 8 papers: Paper 5 Paper 8 Paper 9 Paper 12 Paper 13 Paper 15 Paper 16 Paper 18
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