The Association of Chartered Certified Accountants and CFA Institute, which offers the Chartered Financial Analyst designation, have agreed on a three-year memorandum in which both organizations will collaborate on various initiatives.

ACCA chief executive Helen Brand
ACCA chief executive Helen Brand

ACCA chief executive Helen Brand and CFA Institute president and CEO Paul Smith signed the pact. The agreement was witnessed by ACCA president Leo Lee and CFA Institute chair Robert W. Jenkins.

Under the MOU, CFA Institute will become the first professional investment management body to enter into an agreement with ACCA. The two organizations will work together on important issues for both professions, such as ethics and professionalism, continuing professional development and thought leadership. They also plan to do research and explore other areas of common interest. In addition, they will host joint events and webinars to showcase the public value of both the accounting and financial analyst professions and the need for collaboration between accountants and financial advisors.

“I’m delighted CFA Institute is the first professional investment management body to sign a MOU with ACCA,” Brand said in a statement. “Our values align very closely, as we are both working globally to deliver the highest ethical and professional standards, ensuring our members deliver public value for the benefit of their employers, and customers. The tangible value of both ACCA and CFA members lies in their integrity, professionalism and the expertise they’ve cultivated through our rigorous qualifications and their on-going commitment to CPD.”

The ACCA also has a partnership with the Institute of Management Accountants, but the CFA Institute will be the first financial analyst group to sign a deal with the organization.

“We at CFA Institute are delighted to mark the signing of the Memorandum of Understanding between our two great organizations,” Smith stated. “CFA Institute and ACCA share the same values and certainly have similarities in our missions. It makes perfect sense that we should formally mark our future cooperation, and we look forward to partnering with ACCA as we jointly work to enhance our respective professions.”

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Michael Cohn

Michael Cohn

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985.