How many mutual recognition agreements (MRAs) does CIMA have? Is one with India in the pipeline?
Accounting bodies have pathways into each other and it is very important for them to work together in public interest. CIMA is a large organisation with a global presence in over 160 countries. As of now, we have one MRA with the Society of Management Accountants of Canada, also known as CMA Canada, meaning, there is parity in training and education of management accountants. We will be looking at an agreement with India soon. The Institute of Cost and Works Accountants of India (ICWAI) is just launching a new syllabus, benchmarking it with the international pattern. So that should help in formalising the MRA. Even apart from MRAs, CIMA, India works on many research projects where there is scope for partnership with ICWAI. ICWAI has been asking for a name change of the institute from cost and works to management accountants. You think this will strengthen their position while working out an MRA with other countries? Yes. We are now talking of cost accountants as management experts. Loo
