By DAYO ADESULU

Accountancy students in tertiary institutions have been charged to raise the bar in the standard and quality of the profession. A crucial factor for attaining these is by qualifying for internationally recognized certificates.

Business Development Manager, Nigeria, Chartered Institute of Management Accountants, Mr. Abiodun Musliu Olajide gave the charge at a seminar signaling the commencement of activities marking the Accountancy student’s week of Yaba College of Technology, Lagos.

In a paper titled “CIMA: where business meets with Finance”, Olajide stressed the need for accountants to seek qualification for the Institute’s certificates as studies have proven that Management Accountants are 5 times more sought after than financial accountants.

“Our qualification, recognised in over 165 countries with over 83,467 members and 99,264 students across the world, is a sign of commitment to high professional standards and a code of ethics.CIMA is at the forefront of developing ethical and technical best practice for our students and members.

Our advice, technical research and support programmes mean they will continue to drive value for their employers today and into the future as they are well rooted in finance, accounting and business” he said.

Olajide added that sustainable success can only be achieved by being completely up-to-date with developments in economic and business environments and corporate social responsibility.

While urging already qualified Accountants to obtain CIMA certification, for them to be relevant in the evolving finance functions, Olajide observed that in the 20 year period from 1985-2005 the structure of the traditional financial functions has been revolutionised.

“The forces of globalisation, technology and evolving skills have split financial function into two. Organisations have been commoditising financial accounting skills and processes as witnessed in shared services or outsourcing or outright automation and are retaining and developing strategic functions, management accounting functions, at the heart of the businesses”, he said.

Giving a breakdown of its operations, the Business Development Manager explained that CIMA updates its syllabus and examinations every four to five years following comprehensive consultation and research with employers to ensure it reflects the current needs of business.