The American Institute of CPAs announced that it will launch its new Registered Apprenticeship Program for Finance Business Partners early next year. The new program introduces an on-the-job training path to earn the Chartered Global Management Accountant designation.
Approved by the U.S. Department of Labor, the program is built on the Finance Leadership Program for CGMA candidates in the United States, and is aimed at recruiting students, employers and universities, giving different advantages to each group:
- Students will be able to earn the CGMA designation while they learn, offering a more affordable and attainable pathway.
- Apprenticeship programs will allow employers to expand their talent pool, improve recruiting/retention efforts, and boost firm productivity. Employers may also apply for select tax incentives when hiring apprentices.
- Apprenticeship programs will look to lessen the gap between academia and the profession, offering more job opportunities to students by the time they graduate.
“The time is right for a Registered Apprenticeship for Finance Business Partners, as the profession looks to develop new skills and competencies and broaden its talent pool,” said Tom Hood, executive vice president of business growth and engagement for the Association of International Certified Professional Accountants, in a statement. “With the market demanding the essential competencies reflected in the CGMA designation, the program fills a critical need for both employers and aspiring management accountants.”
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