The Institute of Certified Management Accountants (Australia) was incorporated in 1996 under the patronage of Mr. William Dix (former Chairman of Ford and Qantas) and Professor John Miller (former Director of Consumer Affairs, Chairman of Pannell, Kerr, Foster and holder of numerous senior academic positions). Its objectives are to provide a professional organization for management accountants, and to encourage, disseminate and promote the specialization in organizations in Australia. Similar specialist bodies have been operating in most English-speaking developed countries, e.g. USA, UK and Canada, but not until that time in Australia.
The Institute offers a number of education programs that have received accreditation from many Australian and overseas universities. Being a CMA means a commitment to a continuous professional development, and the Institute offers seminars, training and other development activities to assist members achieve this objective. For the industry and employer perspective, the Management Accounting 2020 program offers industry-based certification for best practices in decision information and control systems.
The Institute is also an examining body, and members are required to pass examinations and other assessments and have relevant work experience prior to describing themselves as ‘Certified Management Accountants’. Business organizations are also accredited by the Institute as providing suitable training and experience programs for prospective members to obtain their experience requirements for membership.