AICPA to Launch Registered Apprenticeship for Finance Business Partners

The American Institute of CPAs (AICPA) plans to launch a new program early next year that will introduce an on-the-job training path to earn the Chartered Global Management Accountant (CGMA) designation.

The Registered Apprenticeship Program for Finance Business Partners has been approved by the U.S. Department of Labor and is built on the rigorous Finance Leadership Program for CGMA candidates in the United States. It will recruit students, employers and universities into the program, with advantages for all:

Students. The program will allow CGMA candidates to earn while they learn, so they can build competencies in a more affordable and attainable way and gain exposure to greater career development and mentoring opportunities.
Employers. The finance function is growing in complexity and scope, and companies face considerable challenges in finding skilled workers to fill these critical roles. Apprenticeship programs allow employers to broaden their talent pool and train a more inclusive mix of personnel, improve recruiting and retention, and boost productivity, according to the Department of Labor. Employers can also apply for select tax incentives when hiring apprentices.
Universities. Apprenticeships bridge the gap between academia and practice and can help colleges and universities place students in jobs by the time they graduate.

“The time is right for a Registered Apprenticeship for Finance Business Partners, as the profession looks to develop new skills and competencies and broaden its talent pool,” said Tom Hood, CPA/CITP, CGMA, executive vice president of business growth and engagement for the Association of International Certified Professional Accountants, representing the AICPA & CIMA. “With the market demanding the essential competencies reflected in the CGMA designation, the program fills a critical need for both employers and aspiring management accountants.”

A free town hall webcast about the apprenticeship program is available at 1 p.m. Eastern time today. Employers and universities that are interested in participating in the program can contact the AICPA at ApprenticesUS@aicpa-cima.com. Visit aicpa.org to learn more about becoming a CGMA designation holder.

The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 696,000 AICPA and CIMA members, students and engaged professionals in 192 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.