The Chartered Institute of Management Accountants (CIMA) has recently announced that it will end the practice of charging exemption fees for new students who hold a relevant degree or qualification effective Aug 1.
This is a first among professional bodies in the accounting sector in the United Kingdom in the hope to encourage accessibility and social mobility.
CIMA regional vice-president for Asia-Pacific Venkkat Ramanan said this would provide an opportunity for CIMA students to enhance their career.
“It also allows more individuals to be part of our mission in driving a dynamic accounting profession worldwide who are skillful and competent for their future employers”.
The change will apply for all new exemption applications by students registered to study for the CIMA Certificate in Business Accounting and the CIMA Professional Qualification.
Backed by the Association of International Certified Professional Accountants, CIMA Professional Qualification is recognised around the world as the finance programme for professionals seeking a career in business.
Updated in January, it now includes trending and future-focused topics, such as digital strategy, blockchain and artificial intelligence, to help students reach their full potential and navigate change in a digital business world.
There are currently more than 117,000 students across 156 countries progressing towards completing their CIMA Professional Qualification and earning the Chartered Global Management Accountant (CGMA) designation.
For students who have been awarded and already paid for exemptions between Jan 1 and July 31, and who will be taking an exam between Aug 1 and Dec 31, CIMA will credit back these students’ accounts with the difference between the previous and new 2019 exam fees on a monthly basis over the remainder of the year.
This credit can be used towards the 2020 subscription fee.
Fees will remain the same for new and existing students who have entered the CIMA Professional Qualification through gateway and experiential programmes.