CIMA has become the first accountancy body in the UK to end the practice of charging exemption fees for new students.
This is something PQ magazine has been campaigning for on students’ behalf for a number of years – to no avail until today!
The move, says CIMA, will help encourage both accessibility and social mobility.
Effective from 1 August 2019, the change will apply to all new exemption applications made by students registered to study both the Certificate in Business Accounting and Professional Qualification.
So, from ‘now’ CIMA students who apply for exam exemptions will no longer have to pay a fee for any exemptions granted for eligible prior learning.
Students who have been awarded and already paid for exemptions between January and 31 July, and who will be taking an exam between August and the end of 2019 will be credited with the difference between the previous and new 2019 exam fees. This credit can be used towards the 2020 subscription fee.
For new and existing students who have entered the CIMA professional qualification through gateway and experiential programmes fees will remain the same.
CIMA’s Andrew Harding called on the other accountancy bodies to follow suite. He went on: “CIMA students come from many different backgrounds and countries with a variety of educational experiences and qualifications, and the institute believes that students should not be put at a disadvantage for undertaking prior learning in the accounting field. By removing a significant barrier to entry into CIMA qualifications, we want to offer the opportunity to build a successful and sustainable career to as many individuals as possible and help create a diverse, dynamic and future-ready workforce.”