Last Friday saw the launch of the UK chapter of the Institute of Management Accountants (IMA), an association for accountants and financial professionals working in business.
The chapter’s elected president Fatema El-Wakeel opened the meeting in London by welcoming new members to the IMA, and admitted that for a body founded in America back in 1919, with more than 80,000 members in 140 countries, a UK chapter was overdue.
The IMA administers and awards the Certified Management Accountant (CMA) qualification, and supports management accountants through research, education and networking.
For El-Wakeel, a financial management consultant at Jaguar Land Rover, this is the second chapter of the IMA she has launched, after helping to set up the Cairo branch.
“I worked in the private and public sector in the UK and back in Egypt, and I’ve been able to link all of them to help me in my career thanks to the IMA”, she said.
Speaking to AccountingWEB after the launch, El-Wakeel explained that the IMA aims to bring something different to the accountancy association ecosystem.
“We’re an international body, and here today we have people from many different countries. The IMA really adds value – it’s not only about the certificate, but what also the members can bring to their working lives.
“What the CMA offers is different from CIMA over here, but I see it as complementary. CIMA works on IFRS and the European standards, whereas the IMA works on GAAP, the American standard.
“I was lucky enough to study in the UK, so I have covered IFRS, but particularly at larger organisations there are some things you need to report in a GAAP way, so you need to understand the difference between the two standards – that’s where we come in.”
For further information, joining instructions and a full list of fees visit the IMA website. Professional membership is currently US$230 a year, with discounts for certain groups including students.
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