Professional qualification: CIMA adjusts syllabus to cater to market

Director of learning says change in response to technology development.

KARACHI:

In response to employers’ feedback, the Chartered Institute of Management Accountants (CIMA) has brought about significant changes in its syllabus to ensure that its students fulfil job market expectations.

“It’s a small change, maybe 10%-15%, in terms of the syllabus content. Yet it’s probably the biggest change that I’ve seen during my 24 years of experience in exams and training,” said Peter Stewart, director of learning at CIMA, while talking to The Express Tribune on Wednesday.



CIMA was set up in the United Kingdom in 1919 and is currently the largest professional body of management accountants globally, with presence in as many as 176 countries. A candidate has to have at least three years of practical experience in finance after clearing five exam levels, namely certificate, operational, management, strategic and professional competence levels.

“Syllabus content is being changed in response to technology development and what employers say they want (in students). We are changing the method of assessments, which is a drastic change,” Stewart said, noting that CIMA will implement a computer-based assessment system 2015 onwards.

Each subject will be assessed by an objective test as well as an integrated case study, which combines the knowledge and learning at each level of the qualification. This will result in nine objective tests and three integrated case studies.

With all exams being computer-based, objective tests will be available on demand, with four case study exam sittings per year. The new assessment method will come into effect from January 2015.

According to CIMA’s former president Gulzari Babber, the number of test centres has been increased from 200 to 5,000 during the last year. Seven of those test centres are located in Karachi, Babbar said, adding that their number will be taken to double digits in the current year.



He said CIMA held 200 roundtables around the world to seek feedback from CEOs and CFOs on syllabus content. “We have to tailor our qualification according to the requirements of our employers, students and industry. The demand for management accountants is very high. We have to fulfil these demands and ensure organisations’ long-term sustainability,” he added.

With over 200,000 members and students (who are sometimes referred to as part-qualified members) globally, CIMA currently has a relatively small presence in Pakistan. The number of CIMA members and part-qualified members in Pakistan is 200 and 3,000, respectively.

Year-on-year growth in the number of CIMA students in Pakistan was 22% in 2013, Babbar said. “Pakistan is producing very good students. They are worldwide prize winners.”

Published in The Express Tribune, March 6^th, 2014.

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