IMA Launches Website to Address the Competency Crisis in Accounting
IMA® (Institute of Management Accountants) has launched the Competency Crisis website, a portal designed to convene the accounting and finance constituency—professionals, students, employers, and academics—around the issue of the talent gap in the accounting profession. To view the site, visit http://www.CompetencyCrisis.org.
According to a quarter-century of research and analysis by IMA and others, there’s a wide discrepancy between what employers need from accounting and finance staff and what many undergraduate accounting students learn in school. The Competency Crisis website is designed to encourage discourse, spur action, and create a community dedicated to finding solutions.
“Studies by IMA and others show that the typical college accounting curriculum isn’t preparing students for long-term careers in accounting, especially management accounting,” said Jeff Thomson, CMA, CAE, IMA president and CEO. “We hope the Competency Crisis website will serve as a platform where employers, professionals, students, and academics can learn more about the problem and discuss their experiences and ideas for the path forward.”
For decades, IMA has been dedicated to addressing the talent gap in accounting, beginning in 1986 with its contributions to The American Accounting Association’s (AAA) Bedford Report, “Future Accounting Education: Preparing for the Expanding Profession.” Since then, IMA has continued its research and initiatives surrounding the profession’s talent issues. Most recently, in January 2013, the IMA/AAA Management Accounting Section (MAS) Curriculum Task Force presented its recommendations for an integrated accounting educational framework.
“Accounting education needs to focus on students’ long-term career needs and not just prepare students for their first job. The profession is changing and education should integrate the variety of competencies needed to add organizational value,” said Dr. Raef Lawson, CMA, CPA, IMA vice president of research and professor-in-residence, who also serves as the Task Force Chair. “I invite the entire accounting community to collaborate to share practical solutions.”
To join the conversation and share how the talent gap has affected you, visit IMA’s social media pages dedicated to the Competency Crisis: