The Chartered Institute of Management Accountants (CIMA) recently unveiled its syllabus that would enable professional management accountants and finance professionals to enjoy a more robust and all-encompassing certification.
Following the review, the new syllabus will now enable students acquire new skills and competencies that are relevant to a digital market place.
The accounting management body in a statement said the updated professional qualification and CGMA competency framework address emerging digital skills gaps and that the change was necessitated by a study it carried out, which showed a clear need for a review.
According to CIMA, over the course of 18 months, it consulted finance professionals from over 2,000 public and private organisations in 150 countries, including through face-to-face interviews, roundtables and a global survey.
"The goal was to bring together different organisational views to understand and build a composite picture of the role finance professionals play in business, identify competencies and skills employers expect and map how these are changing in a digital world."
The study titled 'Reinventing Finance for a Digital World', according to the statement, showed that over 50 per cent of finance leaders globally say the competencies of their teams must change significantly over the next three years as new technologies take over traditional tasks. The upside is that businesses expect a stronger focus on value creation with the automation of repetitive tasks.
The Executive Vice-President, Academics, Association of International Certified Professional Accountants, Dr. Noel Tagoe, who oversaw the unveiling, highlighted the three key areas that were updated and the expected benefits to professionals.
"The updated CIMA Professional Qualification focuses extensively on digital finance to deliver finance professionals who can harness the full power of technology and data to create and add organisational value while supporting businesses to mitigate new risks, including cybersecurity threats."
He said the CGMA Competency Framework was also updated which both adds and incorporates the new area of digital skills to the four core existing knowledge areas of technical, business, leadership and people skills.
Tagoe said the third is the digital mind set professional development course to enhance competencies and skills through a free CPD bundle based on automation, blockchain, cybersecurity, data analytics and ethics.
He added that the body will continue to explore innovative ways to enhance the learning experience of its students to match new skills and competencies required in the market place.
Rotary Club Provides Safe Drinking Water for Lagos School
Motivated by the need to provide access to safe drinking water, which is critical to human health and development, Rotary Club of Lekki Phase I, RI District 9110, recently inaugurated a water project at Ebute Elefun Secondary School, Sura, Lagos Island to promote and encourage good health and well-being among students and staff in school.
The project, which was officially inaugurated by the District Governor, Rotarian Kola Sodipo, was courtesy of Rotary Club of Lekki Phase 1, with the support of the Rotary International through the Nigeria National Polio Plus Committee (NNPPC).
Speaking at the event, the National Coordinator of NNPPC, Tunji Funsho explained that the collaborative initiative was designed to create awareness of the importance of adequate water intake among students as part of a healthy and active lifestyle.
"Access to safe drinking water will create a plentiful source of low cost refreshment throughout the day for the students. It will encourage good health and wellbeing among students, staff and others, as well as reduce tiredness, irritability and distraction from thirst", he said.
In his remarks, the President, Rotary Club of Lekki Phase 1, Dimeji Ajayi stated that the water project would have a positive effect on students' concentration throughout the day and would demonstrate to parents and the local community that the school values students' health and wellbeing.
Lauding the initiative, the Director, Education District, Mrs. Ajayi Aderonke, who represented the Lagos State Ministry of Education, thanked the club for providing water free of charge, adding that safe drinking water is critical to human health and development, yet millions of people lack access to safe drinking water from an improved source, many of these in sub-Saharan Africa.
On her part, the Principal of the school, Mrs. Omolara Oyebanji said the project would encourage consumption of water by the students and staff, adding that the school would ensure that the water remains hygienic, available and maintained.