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
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

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

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    Recruitment Genius: Content Writer - Global Financial Services

    £25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...

    Recruitment Genius: Web Developer - PHP

    £35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...

    Recruitment Genius: Field Sales Consultant - Financial Services - OTE £65,000

    £15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...

    Recruitment Genius: Loan Underwriter

    £18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...

    Day In a Page

    The Silk Roads that trace civilisation: Long before the West rose to power, Asian pathways were connecting peoples and places

    The Silk Roads that trace civilisation

    Long before the West rose to power, Asian pathways were connecting peoples and places
    House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled

    The honours that shame Britain

    Outcry as donors, fixers and MPs caught up in expenses scandal are ennobled
    When it comes to street harassment, we need to talk about race

    'When it comes to street harassment, we need to talk about race'

    Why are black men living the stereotypes and why are we letting them get away with it?
    International Tap Festival: Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic

    International Tap Festival comes to the UK

    Forget Fred Astaire and Ginger Rogers - this dancing is improvised, spontaneous and rhythmic
    War with Isis: Is Turkey's buffer zone in Syria a matter of self-defence – or just anti-Kurd?

    Turkey's buffer zone in Syria: self-defence – or just anti-Kurd?

    Ankara accused of exacerbating racial division by allowing Turkmen minority to cross the border
    Doris Lessing: Acclaimed novelist was kept under MI5 observation for 18 years, newly released papers show

    'A subversive brothel keeper and Communist'

    Acclaimed novelist Doris Lessing was kept under MI5 observation for 18 years, newly released papers show
    Big Blue Live: BBC's Springwatch offshoot swaps back gardens for California's Monterey Bay

    BBC heads to the Californian coast

    The Big Blue Live crew is preparing for the first of three episodes on Sunday night, filming from boats, planes and an aquarium studio
    Austin Bidwell: The Victorian fraudster who shook the Bank of England with the most daring forgery the world had known

    Victorian fraudster who shook the Bank of England

    Conman Austin Bidwell. was a heartless cad who carried out the most daring forgery the world had known
    Car hacking scandal: Security designed to stop thieves hot-wiring almost every modern motor has been cracked

    Car hacking scandal

    Security designed to stop thieves hot-wiring almost every modern motor has been cracked
    10 best placemats

    Take your seat: 10 best placemats

    Protect your table and dine in style with a bold new accessory
    Ashes 2015: Alastair Cook not the only one to be caught in The Oval mindwarp

    Cook not the only one to be caught in The Oval mindwarp

    Aussie skipper Michael Clarke was lured into believing that what we witnessed at Edgbaston and Trent Bridge would continue in London, says Kevin Garside
    Can Rafael Benitez get the best out of Gareth Bale at Real Madrid?

    Can Benitez get the best out of Bale?

    Back at the club he watched as a boy, the pressure is on Benitez to find a winning blend from Real's multiple talents. As La Liga begins, Pete Jenson asks if it will be enough to stop Barcelona
    Athletics World Championships 2015: Beijing witnesses new stage in the Jessica Ennis-Hill and Katarina Johnson-Thompson heptathlon rivalry

    Beijing witnesses new stage in the Jess and Kat rivalry

    The last time the two British heptathletes competed, Ennis-Hill was on the way to Olympic gold and Johnson-Thompson was just a promising teenager. But a lot has happened in the following three years
    Jeremy Corbyn: Joining a shrewd operator desperate for power as he visits the North East

    Jeremy Corbyn interview: A shrewd operator desperate for power

    His radical anti-austerity agenda has caught the imagination of the left and politically disaffected and set a staid Labour leadership election alight
    Isis executes Palmyra antiquities chief: Defender of ancient city's past was killed for protecting its future

    Isis executes Palmyra antiquities chief

    Robert Fisk on the defender of the ancient city's past who was killed for protecting its future