BY DAYO ADESULU

The Chartered Institute of Management Accountant’s global president, Malcolm Furber, will outline how Nigerian organisations – in both the state and private sectors – can be both successful and sustainable if they utilize the skills of Chartered Global Management Accountants (CGMAs).

During a three-day visit to Nigeria, Mr Furber will discuss the recent joint venture between CIMA and the America Institute of Certified Public Accountants (AICPA) which resulted in a new designation, the Chartered Global Management Accountant (CGMA).  Since the CGMA launch in January 2012, the designation has attracted support from leading businesses around the world.

The CIMA president will explain that 132 of the Fortune 500 companies are based in North America and the power of these companies spreads across the world. With the increasing demand for the CGMA designation by senior executives at these organisations, the international profile and reputation of CIMA members are enhanced greatly.

Mr Furber, a South African citizen, will go on to discuss Nigeria’s rapid elevation in international standing and how CGMA finance professionals have the technical and business skills to ensure that the country’s future  – and the wider economic development of the African continent  – are built on foundations that will ensure long-term, sustainable success.

“ CGMA designation holders have broader skills,” he explains. ‘They are trained to connect the dots in business activity and have the deep leadership abilities to help their colleagues understand income and costs, and risks and opportunities of all kinds – not just financial. We believe we have the right formula for our members to play a central role in driving success and many business leaders agree with us. A total of 75% of the CEOs we surveyed said that they would like their finance employees to obtain the CGMA designation. “

Mr Furber went on to add that CIMA’s qualification focuses on relevance and integrity.  “We regularly update our syllabus to ensure that our qualification reflects the ever-changing needs of business,” he explains. “In terms of our ‘thought leadership’ research, we are constantly scanning the horizon to ensure that our members are at the cutting edge of their profession. Our members are also obliged to adhere to codes of ethics and good conduct. Combined, this makes a winning formula that is driving business excellence around the world.”

CIMA and the AICPA will be reinforcing their global profile as leaders in the science of management accounting as the principle sponsors of the 2014 World Congress of Accountants in Italy. The World Conference is one of the largest and most prestigious global gatherings of finance business leaders and provides an excellent platform for the institute to highlight how CGMA-designated management accountants can meet the business needs of today and tomorrow.

Mr Furber concluded: “The CIMA community of 218,000 members and students in 177 countries continues to thrive. Together, we are achieving our goals of expanding opportunities for members and students around the world, developing our reputation for innovation and embracing change and embedding professionalism and sustainability into the heart of the business world”.