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Monday, 1 November 2021, 08:00 HKT/SGT

Source: IMA
IMA and MAAK sign Memorandum of Understanding (MOU)
Partnership strengthens efforts to advance management accounting and the U.S. CMA in Korea

Seoul, Nov 1, 2021 - (ACN Newswire) - IMA® (Institute of Management Accountants) and the Management Accounting Association of Korea (MAAK) have recently signed a Memorandum of Understanding (MoU). The MOU expands their current relationship and outlines the basis for ongoing cooperation, collaboration and alignment between the two organizations.

The MoU, signed by IMA President and CEO Jeff Thomson, CMA (U.S.), CSCA, CAE, establishes IMA's relationship with MAAK, a non-profit association. MAAK was founded on June 8, 2000 to strengthen management accounting research and practice through academic symposiums, publications, and international information in Korea. As part of the partnership, MAAK will actively work to increase awareness and recognition of the U.S. CMA® (Certified Management Accountant) program.

"As a global association, we are continuing to expand our network throughout all of Asia-Pacific," said Nina Michels-Kim, CMA (U.S.), CSCA, Director of Partnership Relations Japan and Korea, at IMA. "Our partnership with MAAK will aid us in bringing more awareness of the U.S. CMA, the global benchmark for management accountants and financial professionals in Korea."

The partnership will advance IMA and MAAKs mutual objectives in promoting higher education and the professional development of members in management accounting. IMA and MAAK will jointly promote IMA membership and resources, including its CMA scholarship program, as well as MAAK's seminar and research workshop events.

"We are delighted to join hands with IMA, one of the largest and most respected associations focusing on advancing the management accounting profession," said Professor Jaeyeol Kim, President of MAAK, who co-signed the MOU. "IMA academic & student membership and benefits, including the CMA Scholarship, Student Case-Study Competition, and Campus Advocate programs, will support our members. This partnership will provide them the opportunity to better prepare for an international career and challenging future, domestically or abroad in management accounting."

IMA supports U.S. CMAs in the region from its regional office in Singapore and eight chapters run by volunteers, including the IMA Korea chapter. The U.S. CMA is a global passport that can be found in well over 50% of the Fortune 500 companies, plus hundreds of small and mid-size businesses. Professionals that earn a U.S. CMA pass a rigorous two-part exam that covers the mastery of 12 core practice areas in business, including technology, data analytics, risk management, corporate finance, ethics, and more. To date, more than 100,000 U.S. CMAs have been awarded. For more details on the IMA and MAAK partnership, please contact (for IMA) or (for MAAK).

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 U.S. CMA® (Certified Management Accountant) and CSCA® (Certified in Strategy and Competitive Analysis) 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 four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit

PRecious Communications for IMA

Image: IMA and MAAK sign Memorandum of Understanding (MOU)

Topic: Press release summary
Source: IMA

Sectors: Daily Finance, Daily News
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