Institute of Company Secretaries of India Signs MoU with IMA to Enhance its Members Professional Skills and Competencies

BENGALURU, India, Jan. 19, 2024 /PRNewswire/ — IMA® (Institute of Management Accountants) and the Institute of Company Secretaries of India (ICSI) formalized a Memorandum of Understanding (MoU) to foster collaborative alliances for the benefit of their members. The parties signed the MoU at the Second Regional Conference of Corporate CS hosted by ICSI – Bengaluru Chapter, which aims to bridge core competencies and facilitate the evolution of professionals into skilled sustainable governance professionals.

The signing of the MoU underscores the commitment of both organizations to advance to the highest standards of ethics and professional conduct in management accounting and corporate secretarial practices. The two organizations are dedicated to promoting excellence in financial management, corporate reporting, and governance.

The MoU outlines collaborative projects, encompassing joint research projects, seminars, conferences, workshops, and professional development programs. Members of both institutes will have the opportunity to participate in various educational programs organized by IMA and ICSI, ensuring continuous learning and skill development, including initiatives to promote sustainability and responsible business practices in organizations.

“Our focus is on empowering management accountants and company secretaries by advancing their professional skills and competencies through collaborative training programs and certifications,” said Mike DePrisco, president and CEO at IMA. “With our partnership with ICSI, we are creating open discussions and partnerships among management accountants, company secretaries, and various stakeholders to collectively tackle challenges at the intersection of finance, governance, and strategy.”

Sharing his views on the MoU, Pranesh Krishnan, Director of Operations at IMAIPL, said, “We are creating a platform that encompasses updated training for management accountants to address the evolving needs of our professions. Together with ICSI, we will establish a framework for knowledge exchange, collaborative initiatives, and professional development. We will provide professionals with the tools they need to succeed in their respective roles in accounting and finance.”

The President of ICSI, CS Manish Gupta, said, “Understanding the rising needs and expectations of the stakeholders is of utmost important to raise the bar and continuously upgrade their professional knowledge and skills. Our work with IMA will provide a collaborative platform for sharing best practices and will open the doors to addressing various challenges faced by professionals in both organizations.”

In addition to its local impact, the five-year partnership between IMA and ICSI also emphasizes international cooperation, with both organizations pledging to share developments in areas of common interest at the global level.

About IMA® (Institute of Management Accountants)

IMA® is one of the largest and most respected associations, focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant), CSCA® (Certified in Strategy and Competitive Analysis), and FMAA™ (Financial and Managerial Accounting Associate) certification programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 350 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its six global regions: The Americas, China, Europe, Middle East/North Africa, India, and Asia Pacific. For more information about IMA, please visit www.imanet.org

About the Institute of Company Secretaries of India (ICSI)

The Institute of Company Secretaries of India (ICSI) is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India. It is a premier national professional body set up under an act of Parliament, the Company Secretaries Act, 1980. ICSI functions under the jurisdiction of the Ministry of Corporate Affairs, Government of India. The Institute provides top-quality education to the students of Company Secretaries (CS) Course and best quality set standards to CS Members. At present, there are around 72,000 members and around 2.5 Lakh students on the roll of ICSI.

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