As the name itself indicates, a Chartered Global Management Accountant (CGMA) is an accountant that has gained special designation to be a member of the Institute of Chartered Accountants of England and Wales (ICAE). An ICAE certified management accountant holds the rank of Chartered Certified Accountant or Chartered Senior Accountant with the United Kingdom’s Chartered Institute of Chartered Accountants (CICCA). Other member states of the ICAE are: Australia, China, Ireland, Germany, Japan, Mexico, New Zealand, North America, Russia, South Africa, Spain, South Pacific, Turkey, United Arab Emirates, and the United Kingdom. The International Accounting Standards Organization (IASCO) is the international governing body of the Chartered Accountants of the World. If an IASCO certified accountant holds the membership of the Chartered Accountants of the World (CATW), they are considered to be a world-class independent Chartered Accountant or a world-class member of the Institute of Chartered Accountants of England and Wales (ICAA).
It is only recently that the Chartered Management Accountants of the World has become recognized as an international accounting profession. This recognition was begun in 2021 when the first official meeting of the CICCA took place in Tokyo, Japan. At the initial meeting, more than 150 accountants from around the world gathered in Tokyo to discuss their work, give insights into the changes that are taking place in the accounting profession, and to examine what members were planning to do to move the accounting profession forward. Since then, dozens of additional international gatherings have taken place, bringing together even more members of the CICCA, along with representatives from accounting, banking, and other business sectors.
The mission of the CICCA is to improve the quality of service provided by accountants around the world. They have done this by developing standards for accountants to aspire to and by holding annual conferences and workshops to bring together people from different countries and backgrounds. Participating members have also been trained on a variety of topics related to global management accountant and general accounting principles. In addition, members are also taught how to read financial statements and how to interpret them.
Global management accountants provide a variety of services to clients throughout the world. For instance, GMA can help a company to secure an international lender, obtain new loans, and reorganize and streamline an existing business system. While doing so, they also examine accounting procedures, determine the needs of the client, evaluate organizational structure, and set up future goals and objectives. By providing their clients with assistance and guidance, GMA ensure that the company meets all of its obligations.
Chartered global management accountants also assist in providing budgeting tools, financial statements analysis, advice on mergers and acquisitions, and assistance with strategic planning. In order to become a CICCA member, a person must undergo a short interview process and take a written examination. Successful candidates are then accepted into the organization upon completion of their training and certification. Members are then able to take the CICCA exam to verify their knowledge on accounting practices worldwide. A CICCA certificate proves to companies and other interested parties that the CICCA candidate possesses world-class accounting skills and is qualified to manage the affairs of a company.
Becoming a Chartered Global Management Accountant can be an excellent way for those wishing to advance in their careers or individuals who wish to obtain independent financial status from an outside firm. By working for a company as an independent financial analyst, an individual will have access to extremely useful inside information that they may not be able to obtain by working for just one firm. CICAs are highly-trained accountants who are able to offer their clients an extremely valuable advice regarding various matters including mergers and acquisitions, financing options, corporate taxes, and business strategy development. These consultants can also provide legal and business advice, as well as assisting members with providing accurate financial documentation. Some CICAs can even help a company develop accurate internal control systems.
Becoming a Chartered Global Management Accountant will require an individual to obtain their CICCA certification after completing the required courses. Individuals wishing to become CICAs must also successfully complete the National Association of Home Assessors (NAHB) exam. These credentials are necessary to gain entrance into the CICCA program and prove their knowledge and skills in accountancy, finance, and auditing.