The Institute of Cost Accountants of India
(Statutory body under an Act of Parliament)
ICWAI Signs MOU with IMA, USA
The Institute of Cost and Works Accountants of India (ICWAI) has
entered into a Memorandum of Understanding (MoU) with the Institute of
Management Accountants (IMA), USA to enable mutual
recognition and cooperation between the two institutes to develop the
profession of Management Accountancy for the benefit of their members
and students in the pursuit of excellence in education and training and
continuing professional development in Management Accountancy.
The MoU will enable recognition of the professional qualification of
the respective Institutes. A member of ICWAI can get enrolled as a
member of IMA USA and vice versa. However, an IMA member enrolling as a
member of ICWAI will not be allowed to hold a certificate of practice to
undertake any statutory work in India.
The MoU will bring mutual recognition and global cooperation between
members of ICWAI and of IMA. While continuing their longstanding
relationship, ICWAI and IMA, besides mutual recognition of their
membership, have agreed to assist and cooperate in conducting joint
research, development of management accounting guidelines and standards
as well as hold joint seminars, conferences and activities beneficial to
both institutes, their members and students.
On this occasion, Mr. Kunal Banerjee, President ICWAI,
said,”ICWAI will enhance its global presence through this MoU and
members of both the Institutes will immensely benefit from recognition
of both certifications. The MoU will also help in applied research in
areas of specific interest related to Management Accounting"
Recognizing ICWAI as “a highly regarded organization in one of the fastest growing economic centres of the world”, Mr. Dennis Whitney, Senior Vice President of Certification of IMA
said,” This agreement will help IMA further its global presence and
will enhance the profile of the CMA certification. ICWAI certified
professionals will be able to enjoy the global recognition and mark of
distinction that comes with holding a CMA certificate.”
Mr. Jim Gurowka, IMA Director of International Development,
said, '”The demand for highly skilled management accountants in India
is growing and presents a great opportunity for IMA and the CMA. IMA and
ICWAI have a long history of working together on research and
conferences and this agreement is the next step of a productive
For details regarding Procedure for the members of the Institute to get CMA Certification/Recertification of IMA USA Please click here
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