Revised agreement provides shorter access to CAs(SA) seeking dual-designation status with CIMA

When talks first began between SAICA and CIMA, it was agreed that the bodies would enter into a five year partnership that would create an expedited pathway to the Chartered Global Management Accountant (CGMA including ACMA/FCMA membership) designation for SAICA members who met CIMA’s experience and exam requirements. Similarly, the partnership would provide eligible CIMA members with an accelerated route to membership and the CA(SA) qualification for eligible CGMA designation holders.

Five years later, both bodies have agreed that the advances made through this partnership in broadening access to the accounting profession in South Africa have been a success. It is for this reason that both institutions believe that it was incumbent on them to find ways to make dual-designation status more achievable so as to enhance the skill-sets available to our economy and they set out to renew the terms of their agreement to do exactly that.

“As an organisation, nothing is more important to us than creating highly qualified accountants possible in order to enhance the breadth of knowledge and the quality of insight they provide our country and economy with. Through agreements such as this, SAICA confirms its commitment to driving a dynamic accounting profession equipped to meet the needs of a rapidly changing world – a profession that adds value to business and responds decisively to issues like sustainable growth, good governance and stamping out corruption and malfeasance,” says SAICA’s CEO Freeman Nomvalo.

“CIMA has been guiding thousands of professionals across the world to become finance business leaders for over 100 years. We work tirelessly to equip our members with the skills and competencies they need to succeed throughout their careers and become strategic business partners who create long-term value for their organisations. I am very pleased to continue our partnership with SAICA, it is a true testament to our joint commitment to nurture and develop accounting talent in South Africa,” said Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting at the Association of International Certified Professional Accountants, representing AICPA & CIMA.

“We are very proud of what we have achieved through our partnership with SAICA over the past 5 years. This new agreement marks another significant milestone in our relationship, which will bring additional value to our members in South Africa and boost their employability in a competitive job market. I look forward to strengthening our partnership in years to come and we further our joint efforts to develop highly-skilled accounting professionals who can guide and lead their organisations, and in turn our national economy, towards sustainable success,” added Tariro Mutizwa, Regional Vice President for Africa at the Association of International Certified Professional Accountants, representing AICPA & CIMA.

What does the new agreement mean for SAICA and CIMA members?

The full revised conversion details can be found on both SAICA and CIMA’s websites but here are the high level changes brought about by the new agreement:

Eligible CAs(SA) looking to become CGMAs are exempt from 15 of CIMA’s 16 CGMA examinations and only need to complete the Strategic Case Study Preparation Course with a registered training provider, successfully complete CIMA’s Strategic Case Study exam and apply for ACMA/FCMA membership.

Eligible CIMA members wishing to become CAs(SA), on the other hand, no longer have to sit and pass SAICA’s first qualifying examination (the Initial Test of Competence (ITC)) but must, instead, register for an accredited Professional Programme and sit SAICA’s second qualifying examination (the Assessment of Professional Competence (APC)), which is written once in November/December every year.

It is also important to note that both bodies have agreed to the following transitional arrangements for CIMA members wishing to register as CAs(SA). These members can either:

• Elect to follow the conversion requirements outlined in the new agreement, OR
• Attempt the ITC in June 2022, January 2023 or June 2023 AND enter into a training contract to satisfy the practical experience requirements of the 2017 agreement. CGMAs who opt to follow this route have until 1 June 2022 to register for a training contract.

Full details on the conversion routes for both CAs(SA) and CIMA members can be found on SAICA’s website. CAs(SA)/CGMA (ACMA/FCMA)who are interested in obtaining the CIMA recognition and have any questions in this regard can email Adri Kleinhans at ***@saica.co.za and Romona Rampersad at ***@aicpa-cima.com.

SAICA Media Contact

Ms Karin Jacobsen
Project Director: Marketing and Communications
Learning, Development and National Imperative Division (SAICA)
Tel: ‪011 621 6913
Email: ***@saica.co.za

CIMA Media Contact

Media contact – CIMA
Sarah Freytag-Traut

Senior Manager – External Relations

Tel: 010 500-9096

Email: ***@aicpa-cima.com

Notes to Editor

About SAICA

SAICA, South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 46 000 members and associates who are chartered accountants [CAs(SA)], as well as associate general accountants [AGAs(SA)] and accounting technicians [ATs(SA)], who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.

About The Chartered Institute of Management Accountants

Founded in 1919, The Chartered Institute of Management Accountants® (CIMA®) is the world’s leading and largest professional body of management accountants. As part of the Association of International Certified Professional Accountants®, CIMA and its members and students operate in 192 countries and territories, working at the heart of business — in industry, commerce, the public sector and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

About the Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants® (the Association) represents AICPA® & CIMA®. We advance the global accounting and finance profession through our work on behalf of 696,000 AICPA and CIMA members, students and engaged professionals in 192 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license, the CGMA designation and specialised credentials, professional development and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.