CIMA presence in the Philippines to meet global challenges

MANILA, Philippines - The Chartered Institute of Management Accountants (CIMA) is making its presence felt in the Philippines in response to the increasing demand for international finance professionals throughout the region.

As part of the activities planned in the Philippines, the CIMA cocktail reception held last November 17 witnessed the unveiling of CIMA's international brand logo by Her Majesty's Ambassador, Peter Beckingham at the new British Embassy in the Makati District.

The main highlight of the cocktail reception was the signing ceremony of the Memorandum of Understanding (MoU) between CIMA and the Philippine Institute of Certified Public Accountants (PICPA). The MoU marks a milestone for both CIMA and PICPA in the desire to promote management accountancy to PICPA members and the public.

With the signing of the MoU, CIMA and PICPA have agreed to collaborate on various areas that would contribute to further the science of management accountancy in the Philippines, particularly CIMA Learning Partner accreditation which serves as a quality assurance for institutions teaching CIMA. Being a CIMA Learning Partner enables PICPA to offer the CIMA Professional Qualification as a programme for PICPA members or other interested individuals.

As valued partners, CIMA and PICPA shall endeavour to share and exchange resources to achieve the objectives and missions that are mutually beneficial to both parties.

As a leading global professional institute, CIMA offers an internationally recognised qualification in management accountancy. With 23% membership growth over the last five years, CIMA has professional qualifications that are highly relevant to today's ever changing business world.

The CIMA qualifications equip its members to work anywhere in the world. It is the only international professional qualification with a syllabus that has a sole focus on the education and training of accountants in business. Globally, 52% of CIMA members are employed by organisations with an annual turnover of £50 million or more, and 98% of members work in business.

Rick Sturge, CIMA's Director of Employer and Strategic Development commented, "CIMA is excited to be making its presence in the Philippines in response to the needs of not only the employers, members and students locally but also to the wide ranging reforms in the tertiary education to be undertaken by the Philippine Commission of Higher Education (CHEd) by 2009-2010.

CIMA lauds CHEd in its determination to upgrade the Philippines' tertiary education to be on par with not only its neighbouring countries but also with the rest of the world."

Among various educational developments being proposed is reserving some courses at tertiary level for those with a master's degree. The UK government agency awards CIMA qualification as equivalent to a master's degree.

"With this undertaking, the Philippines which took us two years to reach this milestone is strategically a very important market for CIMA. It is opportune that CIMA and PICPA sign the MoU in conjunction with the CHEd's announcement that it will be supporting centres of excellence and incentives will be provided to accredited programs," said Sturge.

Being a qualification with uniform requirements wherever it is taken, CIMA acts as a gold standard, and this gives employers a quality guarantee when recruiting finance professionals throughout the world." (Oya Arriola)