Paul Simonson: About AICPA & CIMA

Last Updated on: 4th March 2024, 02:05 pm

Florida-certified public accountant Paul Simonson has been a member of the Florida Institute of Public Accountants since 1998. This article will look at the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA), two organizations created to shape and support America’s accountancy profession.

For more than 136 years, AICPA and its predecessors have served the interests of consumers across the United States. Founded in 1919, CIMA joined forces with AICPA in 2017, culminating in the creation of a powerful international alliance capable of promoting finance and accounting in every corner of the world.

Today, AICPA & CIMA serve circa 698,000 members, engaged professionals, and students across 188 countries and territories, providing specialized resources and exclusive guidance including prestigious designations, credentials, and certifications. AICPA & CIMA empower accountants to create an even brighter tomorrow, both for themselves and the profession as a whole.

Powering trust, prosperity, and opportunity for individuals, businesses, communities, and governments, the accountancy profession is relied on by people all over the world today, with the public enlisting the services of accountants for their unique expertise, long history of innovation, and commitment to a code of ethics.

Professional accountants instill trust in economies and organizations of all sizes through the provision of strategic advice, assurance, and tax services, as well as quality audits. Confidence placed in the work of professional accountants strengthens capital markets, expanding opportunities for sustainable and inclusive growth for businesses and economies all over the world.

Operating with transparency and integrity, the accountancy profession is committed to the public interest, fostering greater prosperity in a complex and constantly evolving regulatory environment. This prosperity goes far beyond the wealth of an individual, organization, or government to the freedom to enable people, businesses, and entire economies to set their own economic course, feel secure, create competition, and diversify.

In addition to its commitment to the public interest, the accountancy profession acts independently and objectively, leading amidst disruption, uncertainty, and complex regulation as an individual or organization’s strategic value partner. The skepticism, expertise, judgement, and commitment to the public interest of accounting professionals informs their work in auditing, assuring, and reporting on financial and non-financial information produced by public and private companies, non-profit organizations, and governments.

AICPA & CIMA provide information, leadership, and resources to maintain the highest professional standards of CPA services. In 2012, the organizations joined forces to create the Chartered Global Management Accountant designation. In 2014, they established the Global Management Accounting Principles, formalizing best practices in the realm of management accounting.

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