The Chartered Institute of Management Accountants (CIMA) and the Hong Kong Institute of Certified Public Accountants (HKICPA) have entered into a new 5-year agreement to accelerate the growth of the accounting and finance profession in Hong Kong by approving mutual examination paper exemptions (MEPE) from both CIMA’s CGMA Professional Qualification and the HKICPA Qualification Programme (QP).
The agreement will widen the opportunities open to both of CIMA members and HKICPA members, promote knowledge sharing, and contribute to the continued success of the accounting and finance profession. CIMA members will be able to fast track their way to becoming Hong Kong CPAs and HKICPA members. Conversely, HKICPA members completing QP or other members subject to competency assessment will have an expedited pathway to becoming Chartered Global Management Accountants (CGMA designation holders) and CIMA members. The MEPE governs the exemptions from the professional exams of CIMA and HKICPA for their respective members. CIMA and HKICPA members have to meet their own professional body’s membership requirements.
Mr Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants, said: “We are delighted to continue our collaboration with the Hong Kong Institute of Certified Public Accountants and further our joint efforts of developing highly-skilled accounting and finance professionals who can drive sustainable success for their organisations.
“We are very proud of what we have achieved through our collaboration over the past few decades. This new agreement will enable us to continue to support a growing number of aspiring accounting and finance professionals in Hong Kong to maximise their potential and achieve their professional goals.”
Ms Margaret Chan, Chief Executive and Registrar of HKICPA, said: “The new agreement signifies the Institute’s continuous commitment to advance the accounting profession development in Hong Kong. This advanced agreement further opens up opportunities for HKICPA members to become CIMA members, easing their path to gain another world-leading qualification and strengthening their competitiveness.”
“This collaboration also reflects the well-regarded standing of the Institute and its Qualification Programme. The Institute also has reciprocal membership agreements with chartered accounting bodies in major financial centres, making its qualification one of the most internationally-recognised and giving its members unprecedented mobility."
