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Agreement to bring benefits to members

24 Mar 2010

ACCA has signed a Memorandum of Understanding with the Chartered Management Institute (CMI), which will see both bodies work collaboratively to promote professionalism and ethics in finance and management.

The agreement brings practical benefits to the respective memberships of the bodies. ACCA members will be entitled to a special discounted rate off the cost of CMI membership, which will offer significant development opportunities and provide additional support to those members whose roles demand strong management skills. There will also be the opportunity to apply for chartered manager status and designation.

ACCA has also been invited to support the CMI through its Ambassador Programme and will nominate a number of members in this capacity.

Attending the signing at ACCA's head office in London were Helen Brand, ACCA chief executive, Tony Osude, ACCA head of professional development, Ruth Spellman OBE, CMI chief executive, and Huw Hilditch-Roberts, CMI director of membership and business development.

'ACCA and the CMI are both prestigious and well-regarded professional bodies,' said Helen Brand. 'Our members share similar values about how they deliver for business. They recognise that strong management skills make a difference. This belief is one of the main findings of ACCA's global annual survey of its membership, which indentified management attributes such as leadership, communication and analytical skills to be essential.'

Ruth Spellman added: 'In signing the Memorandum of Understanding, ACCA and its members are effectively pledging their commitment to working with us to help improve management standards in the UK, and this is real cause for celebration. ACCA members are already highly qualified in their field, but the partnership will give them access to a broad range of programmes that will help them improve their management and leadership skills, an area which some of them may not have focused on previously. 

'CMI is committed to upskilling the UK's managers and leaders to improve business success. Accountancy is a huge sector in the UK and by joining forces with professional bodies, like the ACCA, we hope to increase the amount of managers who hold a professional management qualification. We are really excited about the partnership and look forward to welcoming as many ACCA members as possible to CMI, as well as making the most of all the opportunities for collaborative working in the future.'

Terms of the Memorandum of Understanding

• CMI's membership application fee will be waived
• There will be a reduced subscription rate for new members in the first year
• Members will have full access to CMI's resources, information and guidance
• An introductory discounted registration fee will be offered for the 'professional discussion' Chartered Manager registration route
• ACCA members will receive some exemptions from the CMI's CPD criteria, required as part of initial registration to chartered manager status and the renewal process
• ACCA and CMI shall seek to collaborate on thought leadership, research and policy-related activities that address common areas of interest.

More information