In IMA’s (Institute of Management Accountants) fiscal year 2013, more than 2,800 accounting and finance professionals earned the Certified Management Accounting (CMA) certification, the highest number in any year throughout the CMA’s 41-year history. These figures were released today by nonprofit professional association IMA in its 2013 annual report, available for download here: http://www.imanet.org/2013-Annual-Report.aspx. IMA’s fiscal year runs from July 1, 2012 through June 30, 2013.
Since the CMA’s inception in 1972, approximately 40,000 professionals have earned the certification by passing an exhaustive exam that evaluates expertise in the areas of financial planning, analysis, control, decision support and professional ethics. Designed to meet the needs of businesses, the CMA translates into significant career opportunities. According to IMA’s most recent Salary Survey, CMA holders earn $34,000 more in compensation than their non-certified peers.
“We’re pleased to announce IMA’s record number of CMA recipients for fiscal year 2013,” said Dennis Whitney, CMA, CFM, senior vice president, Institute of Certified Management Accountants (ICMA), IMA’s certification division. “The increasing demand for the CMA reflects its position as a respected credential, validated by a rigorous exam that indicates mastery of the skills needed to succeed in management accounting.”
The Middle East, Africa, Pakistan, and India boast a total of 2,071 CMA holders, 401 of which earned their CMA in fiscal year 2013.
The CMA continues to be recognized as the preeminent credential in the field. The certification is held by professionals in more than 100 countries and is currently being pursued by more than 18,000 candidates from around the world. With five-year annualized growth rates of 20 percent a year, the CMA program is one of the fastest-growing accounting credentials in the world.
Loutfi Echhade, IMA member and Leader of the MENA Family Business Centre for Excellence at Ernst & Young said: “Over the last few years the MENA region has witnessed a significant increase in the number of IMAs, as well as candidates that are seeking the CMA designation. Due to the significant growth opportunities, new regulations and market trends and challenges, there is a higher level of awareness among leading companies, accounting graduates and management accountants of the importance of certification in enhancing skills and improving performance. Market surveys have also shown a direct positive correlation between certification and higher salaries and increased job opportunities.”
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