As a respected leader within the global financial community, the IMA influences the concepts and ethical practices in management accounting and financial management. Its ethical standards provide guidance to practitioners for maintaining the highest levels of ethical conduct.
IMA MoU with ICWATo reflect the globalization of business and the importance of sound management accounting practices in all parts of the world, IMA® and the Institute of Cost and Works Accountants of India (ICWAI), a statutory body enacted under an Act of Parliament of India, have entered into a joint partnership agreement. At the cornerstone of the partnership is a mutual recognition of each organization’s respective certifications, allowing automatic award of IMA’s Certified Management Accountant (CMA®) certification for ICWAI’s Cost and Works Accountant (CWA) certificate holders. With 42,000 qualified professionals, ICWAI is the regulating authority of the cost and management accounting profession in India. The Institute of Cost and Works Accountants of India (ICWAI) has entered into a memorandum of understanding (MoU) with the Institute of Management Accountants (IMA), USA. The MoU will enable recognition of the professional qualification of the respective institutes. Both the institutes will develop the profession of management accountancy for the benefit of their members and students.
According to the MoU, a member of ICWAI can get enrolled as a member of IMA USA and vice-versa. However, an IMA member enrolling as a member of ICWAI will not be allowed to hold a certificate of practice to undertake any statutory work in India.