The Chartered Institute of Management Accountants could eventually merge with the American Institute of CPAs, according to CIMA’s chief executive.
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The two organizations are launching a joint venture at the end of this month to offer a new Chartered Global Management Accountant credential for CPAs (see AICPA, CIMA Plan Push for New Management Credential).
Asked about the possibility of an eventual merger between the two organizations, CIMA chief executive Charles Tilley said Thursday that a merger might be “considered in the future” between the AICPA and his London-based organization.
“This is a new joint venture between the AICPA and CIMA, and a merger isn’t part of the current plan,” he said in an email Thursday. “Both organizations intend to work together to take advantage of each other’s respective strengths. When the success of the JV is established, other options, including a merger, could be considered in the future.”
When the AICPA was asked about the possibility last month, however, after the Institute of Management Accountants raised objections to the AICPA’s requirements for the new CGMA credential, an AICPA official said that only a joint venture was contemplated (see IMA Ready to Compete with AICPA for Management Accountants).
“The CGMA is the result of a joint venture formed by two of the world’s largest and most prestigious accounting organizations with the purpose of elevating the science of management accounting, and promoting uniform global standards of management accounting excellence through the CGMA credential,” said AICPA senior vice president of management accounting Arleen Thomas. “It’s a ‘joint venture,’ not a merger.”