Members of the Chartered Institute of Management Accountants (CIMA), Sri Lanka have the legal rights to use the accounting certifications of ACMA and FCMA, contrary to what the Certified Management Accountants (CMA) have stated in recent newspaper articles that only their members can use the certifications.
Global CIMA President Aubrey Joachim stated this in a letter to members that after seeking a legal opinion on this matter, that is not a criminal offence or violation to use the certifications.
However, Mr. Joachim said that CIMA Sri Lanka members are encouraged to use the letters ‘UK’ after the titles ACMA and FCMA. Mr. Joachim further stated that while retaining their legal rights, CIMA will continue to take necessary action to differentiate their qualification as being a top of the mind brand among employers in the country.
Mr. Joachim added that CIMA is the only professional qualification which has world class tutors and currently holds 34% global market share outside UK. He said CIMA retained its pre eminent position among the business community in Sri Lanka and has once again been rated the most 'preferred qualification for managerial positions' as per the annual survey conducted by the Labour Department.