Chartered Institute of Management Accountants (CIMA) has published a report with its insights into employment issues, based on a series of round- tables organized in Myanmar 0n 10 Decem- ber 2014. The report highlights that there is demand but little supply of talent and com- panies has forced employers to recruit from regional markets and young workers and even qualified technical people lack the ba- sic practical day-to-day business skills such as communication, problem solving, critical thinking, people management and English language skills.
Industry leaders at the roundtable said that there is a need to upgrade the education sys- tem in Myanmar as it is not training people to think, argue, reason or debate. CIMA and the American Institute of Certified Pub- lic Accountants (AICPA) have developed a competency framework that emphasizes core technical skills, business acumen, peo- ple skills and leadership skills to enhance the employability and capability of young workers in Myanmar.
In line with talent development using the competency framework, the Global Manage- ment Accounting Principles pioneered by CIMA and AICPA was recently launched in Myanmar on 10 December 2014.
CIMA’s Country Manager of Myanmar, Mi- chael Yii said, “Although Myanmar is en- joying a flush of opportunity and potential growth resulting from the market opening up to global partnerships and participation, businesses are constrained by the employ- ability issue and the skills of workers in Myanmar. Under this scenario, the Myan- mar market can find it hard to develop as fast as it could or should. The CIMA professional qualification in management accounting, the competency framework and the Glob- al Management Accounting Principles will help develop the skills of talent in Myanmar, help businesses to succeed and contribute to the economic growth in Myanmar.” He added. “Our Chartered Global Management Accountant (CGMA) designation is based on competencies that employers themselves say they need, ensuring designation holders have market relevant skills and global em- ployability”, according to the report.
CIMA and the Office of the Auditor General of the Union (OAG) signed a Memorandum of Understanding (MOU) on 10 December 2014 to work together in shaping Myan- mar’s talent development. Among the pro- visions of the MOU, 35 scholarships will be
awarded to senior accountants and chief accountants to pursue the CIMA-MICPA CFO Programme. The programme aims to upgrade the skills of these accountants with an internationally recognised professional accounting qualification.
CIMA, founded in 1919, is the world’s leading and largest professional body of management accountants. CIMA program is now being of- fered at private institutions such as IMA In- stitute of Accounting and Finance (IMA IAF), which is the first private school to offer inter- nationally recognized CIMA and CFA qualifi- cations in Myanmar since 2012.
