The Institute is now in its 19th year, having been incorporated in 1996. Over the past year the Institute was successful in canvassing for the role of ‘Management Accountant’ to be maintained for a fifth year in the Australian Government’s Skilled Occupation List (SOL) for General Skilled Migration (GSM).
The ICMA is also continuing to lobby to attain the status of a migration assessment authority for Australia, and to get to get the CMA qualification recognised by the Australian migration authorities. Although the ICMA was not set up as a body for those seeking migration to Australia; but rather as a post-graduate level qualification for those already possessing the basic accounting qualifications required for migration; many members wanted to use their CMA for just that purpose.
In the last year, progress was slightly curtailed due to the sudden illness of our esteemed President, Mr Michael Vincent, who passed away in September. I wish to acknowledge the immense amount of work he carried out on behalf of the Institute. Michael’s sage knowledge and witty insights will be solely missed.
Amongst the activities in the last year more under our control, was the launching of the International Management Accounting Collaborative (IMAC). The ICMA was the founder charter member of the IMAC, which is now the global organization for the management accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IMAC is particularly committed to enhancing the decision making capabilities of organisations; and in promoting good governance, risk management and sustainability, which are the key elements in achieving long term social, environmental and economic performance, and in enhancing investor and other stakeholder confidence. Professional management accountants have an important role to play in these areas, and IMAC is uniquely positioned to support member bodies in enhancing the competence and expertise of their members.
In the last year, the Institute’s website was significantly updated and incorporates a Member’s Section that could only be accessed by current financial members. I urge all members to make use of the membership fees you have paid, and go to this member’s section as it provides a wealth of information. The eNewsletter On Target continued to be published and the web-analytics indicates that it gets on average 2,000 visits and 3,000 page views per month.
The ICMA continued to publish a world-class academic research journal, the Journal of Applied Management Accounting Research (JAMAR). Two issues were published in the year in both print and online modes. The latest JAMAR issues are also only available to current financial members. Research and professional development also continued in the two organizations set up by the ICMA: The Institute of Certified Carbon Analysts and Auditors (ICCAA) and The Institute for the Advancement of Corporate Reporting and Assurance (IACRA).
Expanded Library facilities for members were opened in March 2014. This was a special project of the former president, the late Mr. Michael Vincent. The Library now has over 12,000 texts and professional and academic publications, and has now one of the best libraries in Australia in the professional areas of management accounting and risk management. Another room with meeting/training facilities was also opened in June 2014.
At this time of the year, it is good to remind members as to the services provided by the Secretariat, and for what their membership fees is being used for:
- Maintaining the corporate website that is in keeping with the international profile of ICMA
- Maintaining a Members’ Only area on the website.
- Publishing 5 copies of the On Target eNewsletter
- Maintaining a Library by over 12,000 texts and professional and academic publications
- Having a World-Class Customer Relationship Management (CRM) system to handle the membership, invoicing, examinations and accounts.
- Conducting Examinations in all Branch locations and in over 20 other countries where students undertake the CMA program by distance education.
- Maintaining the ICMA Blog, with links to Facebook and Twitter
- Continuing with the links to CEO Institute for Members
I wish all members Happy Holidays!
Best Wishes
Michael Tse, CMA, IMAP
President, ICMA
