FAQ
Is ICMA (Australia) Linked to Other Accounting Bodies or IFAC?
ICMA (Australia) is an independent body with patrons like Bill Dix and Professor John Miller. It is accredited by the Commonwealth of Nations and publishes “On Target” and “Management Accounting Frontiers.” While ICMA is not linked to other professional bodies like IMA or CIMA, it recognizes their memberships as entry pathways to the CMA qualification. ICMA is part of the International Management Accounting Collaborative (IMAC) but has chosen not to seek IFAC membership.
What are the other professional accounting bodies in Australia?
Australia has three main generalist accounting bodies:
- Chartered Accountants of Australia and New Zealand (CA ANZ)
- CPA Australia (CPA)
- Institute of Public Accountants (IPA)
These bodies provide public practice services and issue certificates for audits.
ICMA is the only specialist management accounting body in Australia, focusing on post-graduate education programs and not providing public accounting services.
How Recognized is the ICMA?
The Institute of Certified Management Accountants (ICMA) was registered in 1996 under the Associations Incorporations Act 1981 (Vic.). It is accredited by the Commonwealth of Nations as a Civic Organization.
ICMA members are entitled to use the following post-nominals:
- Fellow Certified Management Accountant (FCMA)
- Certified Management Accountant (CMA)
- Associate Management Accountant (AMA)
- Graduate Management Accountant (GMA)
- Registered Cost Accountant (RCA)
- Registered Business Accountant (RBA)
- Certified Accounting Technician (CAT)
- Management Accounting Affiliate (MAA)
The CMA, RBA, RCA, and CAT post-nominals are also registered trademarks of the ICMA.
True recognition is earned in the market. As a relatively new body with over 10,000 members (including more than 2,500 CMAs), ICMA is well-recognized in its niche. It offers specialist qualifications for already qualified generalist accountants through advanced subjects at the Master’s degree level. The CMA education program is integrated into Master’s degree programs at several Australian and overseas universities.
If I have a recognized accounting qualification, do I still need to become a GMA or AMA first?
No, you can take the CMA subjects as a student member and, after completion, apply directly for CMA membership if you have over 5 years of relevant experience.
How do I qualify to become a CMA?
If you have an accounting background (e.g., accounting degree, CA, CPA) or an MBA, you need to complete two specialist electives to earn the CMA certification:
- Strategic Business Analysis
- Strategic Cost Management
Do I have to sit exams to become a CMA?
20+ years of experience: Exempt from exams but must attend the CMA course and complete assessments.
10-20 years of experience: Choose between two exams or a 2,000-word assignment, attend the CMA course, and complete assessments.
Less than 10 years of experience: Must pass exams after attending the CMA course.
Assessment deferment: Up to 2 years due to illness or exceptional circumstances.
Where do the Courses run?
Courses are conducted at universities (within Master’s degree programs) and ICMA-accredited Recognised Provider Institutions. They have been held in various countries, including Australia, Singapore, Indonesia, Malaysia, Papua New Guinea, India, Dubai, Hong Kong, The Philippines, Lebanon, China, Bangladesh, Cambodia, New Zealand, Nepal, Vietnam, Cyprus, and Sri Lanka. For detailed information, check the CMA Events page.
Is the CMA qualification recognized for immigration into Australia?
The ICMA was not formed for immigration purposes. It aims to provide post-graduate specialization in managerial accounting for qualified accountants (e.g., CAs, CPAs). ICMA does not confirm if CMA is recognized for Australian migration, but some CMAs have migrated to Australia on a case-by-case basis.
Give Us A Call
+852 2574 1555
Send Us A Message
info@cmaaustralia.hk
Office Location
CMA Hong Kong Branch,
Room 1803, 18/F, Yue Xiu Building,
160-174 Lockhart Road, Wanchai,
Hong Kong
Leave a Reply