ACCA (the Association of Chartered Certified Accountants) and the Chartered Management Institute (CMI) have joined forces by signing a Memorandum of Understanding (MoU).
The aim of the MoU is for ACCA and the CMI to work collaboratively to promote professionalism and ethics in finance and management.
The MoU will also bring practical benefits to the respective memberships of the bodies. ACCA members will benefit from discounted membership of CMI, which will offer significant development opportunities and provide additional support to ACCA members whose roles demand strong management skills. ACCA members will also have the opportunity to apply for Chartered Manager status and designation.
ACCA (accaglobal.com) has also been invited to support the CMI through its Ambassador Programme and will nominate a number of members in this capacity.
Attending the signing at ACCA’s head office in Lincoln’s Inn Fields, London, were Helen Brand, chief executive of ACCA, and Tony Osude, Head of Professional Development, ACCA; Ruth Spellman OBE, chief executive of the CMI and Huw Hilditch-Roberts, director of membership and business development at CMI.
Helen Brand said of the joint working relationship: “ACCA and the CMI are both prestigious and well-regarded professional bodies. Our members share similar values about how they deliver for business. They recognise that strong management skills make a difference. This belief is one of the main findings of ACCA’s global annual survey of its membership, which indentified management attributes such as leadership, communication and analytical skills to be essential.”
Ruth Spellman added: “In signing the memorandum of understanding, the ACCA and its members are effectively pledging their commitment to working with us to help improve management standards in the UK, and this is real cause for celebration. ACCA members are already highly qualified in their field, but the partnership will give them access to a broad range of programmes that will help them improve their management and leadership skills, an area which some of them may not have focused on previously.
CMI is committed to up-skilling the UK’s managers and leaders to improve business success. Accountancy is a huge sector in the UK and by joining forces with professional bodies, like the ACCA, we hope to increase the amount of managers who hold a professional management qualification. We are really excited about the partnership and look forward to welcoming as many ACCA members as possible to CMI, as well as making the most of all the opportunities for collaborative working in the future.”
Details of the MoU
• CMI’s membership application fee will be waived;
• There will be a reduced subscription rate for new members in the first year;
• Members will have full access to CMI’s resources, information and guidance;
• An introductory discounted registration fee will be offered for the ‘professional discussion’ Chartered Manager registration route;
• ACCA members will receive some exemptions from the CMI’s Continuous Professional Development (CPD) criteria, required as part of initial registration to Chartered Manager status and the renewal process;
• ACCA and CMI shall seek to collaborate on thought leadership, research and policy related activities that address common areas of interest.