Qualified support

An ambitious CIMA scheme for employers will offer extra help in training management accountants. By Anthony Doherty

CIMA's pass list is to be published this week in the Independent on Sunday: an emotive moment for the anxious candidates. But a good time also to spare a thought for those students who are receiving extra help in gaining their qualification. Under a scheme launched by the institute last month they will be able to benefit from increased training support.

The new scheme, Training Through Partnership, aims to encourage more employers to provide high quality support to trainee management accountants. In practical terms, a greater range of employers will be given access to support from the institute when training their students.

The range of organisations being invited to take part range from major multinationals and public sector organisations, to small businesses managed by their owners.

Initially, employers will be encouraged to undertake a self-assessment exercise to build up a profile of their training support. Organisations will be monitored regularly to ensure that standards of training are maintained, with CIMA's business development managers making routine visits.

Organisations in the scheme will be certified as either CIMA-recognised, or CIMA quality-approved. CIMA-recognised status will be awarded to those providing training support at a threshold level defined by the institute's quality standards. CIMA quality-approved status will be awarded to those organisations which offer the highest standards of support to their students, and will be available only to employers that show an ongoing commitment, and offer training in line with what CIMA considers to be best practice.

Crucial to the scheme are the quality standards themselves. These describe, in a simple matrix format, the areas in which employers are expected to assist their students. They cover financial and study support, planning for practical experience, and monitoring and review. The matrix-type format helps to give an immediate profile of the training support an organisation is providing. It can be used to provide a framework within which employees and students can agree expectations and responsibilities with regard to training.

The revised standards, which are the result of extensive consultation and field testing, will be useful in many business environments. Mark Flicker, finance director with GEC Alsthom Traction, says: "They offer added value to the organisation, because they provide clear guidelines and standards enabling the development of higher potential employees."

For employees, benefits include a chance to compare training with that of other organisations, to map future objectives, and to integrate finance training with business needs. CIMA also hopes that it will help participating companies to attract and retain good employees.

Keith Porter, finance director of BICC UK Cables, explains the benefits of the scheme. "We have found the quality standards extremely useful for internal benchmarking purposes, establishing uniformity and continuity across departments. The company will also benefit from the external benchmarking information which Training Through Partnership will provide."

For students the scheme has obvious benefits, as it will encourage better training by employers, providing more information on the levels of training support and helping them to gain CIMA membership. However, the emphasis of the new scheme is on a joint approach to training.

Having launched the scheme in the UK, CIMA wants to develop similar schemes in other countries. The standards for CIMA-recognised status will be the same worldwide. However, in order to reflect differences in cultural norms and business conditions between countries, CIMA quality-approved standards will be based on what is considered best practice in each area concerned. Malaysia will be one of the first countries to benefit, followed by South Africa and Sri Lanka.

So, take heart if the goal of CIMA qualification sill seems a long way off. As Steve Matthews, training adviser for CIMA, says: "Training Through Partnership demonstrates the Institute's commitment to and belief in the value of planned training for employers and their students. It should ensure that the best possible support is available to all those training to be management accountants"

Anthony Doherty is director of student affairs at the Chartered Institute of Management Accountants.

Independent Partners; Do you need financial advice on your investments, pension or insurance? Book a free consultation with an independent Financial Adviser at VouchedFor.co.uk

Finacial products from our partners
Property search
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    SThree: Trainee Recruitment Consultant

    £20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...

    Ashdown Group: IT Manager / Development Manager - NW London - £58k + 15% bonus

    £50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...

    Recruitment Genius: Sales Consultant / Telemarketer - OTE £20,000

    £13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...

    Ashdown Group: Training Programme Manager - City, London

    £40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...

    Day In a Page

    Where the spooks get their coffee fix: The busiest Starbucks in the US is also the most secretive

    The secret CIA Starbucks

    The coffee shop is deep inside the agency's forested Virginia compound
    Revealed: How the Establishment closed ranks over fallout from Loch Ness Monster 'sighting'

    How the Establishment closed ranks over fallout from Nessie 'sighting'

    The Natural History Museum's chief scientist was dismissed for declaring he had found the monster
    One million Britons using food banks, according to Trussell Trust

    One million Britons using food banks

    Huge surge in number of families dependent on emergency food aid
    Excavation at Italian cafe to fix rising damp unearths 2,500 years of history in 3,000 amazing objects

    2,500 years of history in 3,000 amazing objects

    Excavation at Italian cafe to fix rising damp unearths trove
    The Hubble Space Telescope's amazing journey, 25 years on

    The Hubble Space Telescope's amazing journey 25 years on

    The space telescope was seen as a costly flop on its first release
    Did Conservative peer Lord Ashcroft quit the House of Lords to become a non-dom?

    Did Lord Ashcroft quit the House of Lords to become a non-dom?

    A document seen by The Independent shows that a week after he resigned from the Lords he sold 350,000 shares in an American company - netting him $11.2m
    Apple's ethnic emojis are being used to make racist comments on social media

    Ethnic emojis used in racist comments

    They were intended to promote harmony, but have achieved the opposite
    Sir Kenneth Branagh interview: 'My bones are in the theatre'

    Sir Kenneth Branagh: 'My bones are in the theatre'

    The actor-turned-director’s new company will stage five plays from October – including works by Shakespeare and John Osborne
    The sloth is now the face (and furry body) of three big advertising campaigns

    The sloth is the face of three ad campaigns

    Priya Elan discovers why slow and sleepy wins the race for brands in need of a new image
    How to run a restaurant: As two newbies discovered, there's more to it than good food

    How to run a restaurant

    As two newbies discovered, there's more to it than good food
    Record Store Day: Remembering an era when buying and selling discs were labours of love

    Record Store Day: The vinyl countdown

    For Lois Pryce, working in a record shop was a dream job - until the bean counters ruined it
    Usher, Mary J Blige and Will.i.am to give free concert as part of the Global Poverty Project

    Mary J Blige and Will.i.am to give free concert

    The concert in Washington is part of the Global Citizen project, which aims to encourage young people to donate to charity
    10 best tote bags

    Accessorise with a stylish shopper this spring: 10 best tote bags

    We find carriers with room for all your essentials (and a bit more)
    Paul Scholes column: I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England

    Paul Scholes column

    I hear Manchester City are closing on Pep Guardiola for next summer – but I'd also love to see Jürgen Klopp managing in England
    Jessica Ennis-Hill: 'I just want to give it my best shot'

    Jessica Ennis-Hill: 'I just want to give it my best shot'

    The heptathlete has gone from the toast of the nation to being a sleep-deprived mum - but she’s ready to compete again. She just doesn't know how well she'll do...