The Consumer Affairs Authority (CAA) has found that the Institute of Certified Management Accountants (ICMA) did not indulge in any unfair trade practices over the use of the degree qualification or post nominals, ACMA and FCMA for its associate and fellow qualifications.
The complaint to the CAA was filed by the Chartered Institute of Management Accountants (CIMA) following ICMA’s incorporation through an Act of Parliament which specified the use of ACMA and FCMA for ICMA qualifications even though CIMA had been using the same post nominals for decades.
President of the ICMA Lakshman Watawala said the letter from the CAA stated that the fears expressed by CIMA are unfounded and that for qualifications other than ICMA’s, the country from where the qualification was obtained can be specified.
“This letter clears up everything,” Mr. Watawala said. “The main thing the Consumer Affairs Authority is saying is that ICMA was incorporated by an Act of Parliament and was supported by everyone in Parliament.” A spokesperson for CIMA said they received a letter from the CAA but declined to comment further. |
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