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New global standard is 'historic moment'.

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CIMA and the American Institute of Certified Public Accountants (AICPA) are to launch a worldwide standard of professional excellence for management accountants.

The new professional designation - Chartered Global Management Accountant (CGMA) - will help give management accountancy a higher profile in the US and promote the professional development of management accountants across the globe, combining the strength of the AICPA in North America with CIMA's presence in Europe, the Middle East, Africa, Asia and elsewhere.

CIMA president George Glass said: "We are delighted that management accountancy is to be given a strong new global impetus by this joint venture. This advances our strategic aims and will ensure management accountants, committed to strict ethical standards, will receive world-class support in a fast-globalising world."

"This is truly an historic moment for management accounting and the accounting profession worldwide," AICPA chairman Paul Stahlin added. "Our joint venture with CIMA...

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