The importance of both long-term planning and rapid flexibility cannot be overstated.
| Author | Grant, Gordon |
| Position | In business - Chartered Institute of Management Accountants |
Over the past year CIMA has taken a leading role in supporting the transformation of the finance function. World-class business leaders highlighted the pace of change in business at the institute's recent annual conference in London. It's clear from them--and from our own experiences--that only those individuals and institutions that are prepared and equipped to change constantly will be successful in the long term. Those that fail to adapt will be left behind.
We're hearing this harsh and increasingly loud message constantly right across the world. It applies as much to the institute as it does to you as an individual member and, in turn, your employer.
But, as the conference also highlighted, adapting flexibly to change is what CIMA and its members have been doing ever since the institute was founded in 1919--in response to the failure of other professional bodies at the time to meet the forward-looking needs of business. The natural place for the chartered management accountant is, therefore, at the forefront of change. This means that the future for us poses abundant opportunities for success.
The institute is ending 2007 with two exciting developments, both of which are world firsts. At the start of December we become the first professional accountancy body to launch a global qualification in Islamic finance. We have identified considerable demand from employers around the world for a qualification to develop the knowledge and skills required to service this increasingly important market. The Islamic finance industry is thought to be worth between 150bn [pounds sterling] and 250bn [pounds sterling] and is growing at an estimated rate of 15 to 20 per cent a year. CIMA has worked alongside the International Institute of Islamic Finance to design a self-study programme to meet the vital needs of its employer and student stakeholders.
On December 13 CIMA Sri Lanka will officially declare its sponsorship of a worldwide initiative called the United Nations Global Compact (UNGC). The institute facilitates the UNGC's network in Sri Lanka. Through the power of...
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