The AICPA’s Governing Council is set to vote May 23 on the management accounting designation that would be created through the AICPA’s and CIMA’s proposed joint venture.
If the new designation gets a thumbs up from the AICPA’s Council and is also ratified by the CIMA’s governing body, the joint venture is expected to launch in 2012.
When the joint venture, which would be 60% owned by the AICPA, was announced in March the terms of the proposed agreement provided for equal decision-making through a 50/50 board of directors with CIMA and AICPA rotating the role of chairman.
If the plan is approved as it was proposed, the new designation would be issued by the joint venture on behalf of the AICPA and CIMA, with membership remaining with the existing organizations. In the Americas outside the United States, non-U.S. CPAs could obtain the new designation as AICPA international associates after a rigorous assessment process. In the rest of the world, new designation holders would become members of the Chartered Institute of Management Accountants after the same assessment process