MEMBERSHIP AND QUALIFICATIONS
The Institute as a Professional Accountancy Body enables members, through its examinations and associated experience and training requirements, to qualify as:

(i) An Associate Member (ACMA)
(ii) Chartered Management Accountants (CMA)
(iii) A Registered Auditor (subject to registration with a recognized supervisory body)

Professional qualified status as an accountant is achieved through admission to Associate Membership of the Institute and is confirmed by the issue thereupon of a Certificate of Associate Membership.

To practice as a Chartered Management Accountant in relation to the Institute, a member must be in possession of a valid Practising Certificate issued by the Institute.

A Registered Auditor is, in relation to the Institute, a member who following recognition of the Institute’s professional qualification, has proved his competence to be registered with a recognized supervisory body as a Public Company Auditor through the award by the Institute of a Certificate of Recognized Professional Qualification, and has become so registered. Such a member can be called ‘Certified Registered Auditor’.

MEMBERSHIP
Associate Membership of the Institute can be by direct entry if the applicant possesses a membership certificate of an accountancy body recognized by the Institute or passing all the stages of the Institute’s professional examinations.

MEMBERSHIP BY EXEMPTION:
There are two (2) categories of Professional Accountancy Bodies whose qualifications are recognized and accepted by the Council of the Institute to Direct Membership. The following are the categories of Professional Accountancy Bodies whose members are eligible for Direct Admission to Membership of the INSTITUTE as ASSOCIATE COST AND MANAGEMENT ACCOUNTANT (ACMA) 1. Members of Professional Accountancy Bodies chartered by the Act (Law) in Nigeria. 2. Members of recognized Professional Accountancy Bodies Abroad such as:

a) The Chartered Institute of Management Accountants (CIMA), England
b) Institute of Chartered Accountants of England and Wales (ICAEW)
c) The American Institute of Certified Public Accountants (AICPA)
d) The Chartered Institute of Public Finance and Accountancy, (CIPFA) UK
e) The Chartered Association of Certified Accountants (ACCA)
f) Institute of Financial Accountants, (IFA) UK
g) Institute of Management Accountants, (IMA) USA
h) The Association of International Accountants (AIA), U K.
i) Certified Management Accountants, (CMA) Canada
j) Any other Professional Qualification that may from time to time be approved by the Council.


MEMBERSHIP CERTIFICATE:

Every member shall on admission be entitled to a Certificate of Membership under the Seal of the Institute, but such a Certificate shall at all times remain the property of the Institute, and shall be returned to the Institute on demand.

In the event of the resignation, removal, exclusion or suspension of a member, or of a member ceasing to be member for any other cause, the Certificate of Membership then held by him/her shall be delivered up to the Institute to be cancelled or retained during his/her suspension.

For admission as an Associate Member a student must be at least 20 years old and must show to the
satisfaction of the Council that:

(i) He or she has passed the Institute’s examinations
(ii) He or she has had at least three years approved Accountancy experience, gained before or after, or
partly before and after passing the Institute Examinations.
(iii) He or she is in accountancy employment at the time of admission.
(iv) He or she is fit and proper to be so admitted.

Overseas students are to include local law and taxation papers instead of the standard Nigerian versions in the examination for membership.

An Associate Member who has had not less than five years post-qualifying experience of a continued and approved nature is eligible for election by the Council as a Fellow of the Institute.

A member may only represent as such when in possession of a valid Certificate of Associate or Fellow Membership.

PRACTISING CERTIFICATE
A Practising Certificate from the Institute may only be issued to a member who has completed a post-qualifying period of three and a half years of professional experience with an accountant in Public Practice (i.e. a Practising member of the Institute or a Registered Auditor)

Such practising certificates, renewable annually, subject to certain conditions being satisfied to enable members to practice as Chartered Management Accountants in the country where they obtained their post qualifying experience in Public Accountancy.

Practising Certificates enable members to act as Chartered Management Accountants and Auditors to Government Organizations, Public and Private Companies and Individuals.

A member not having been examined in the local law and taxation papers of a country in which he wishes to practice may be required by the Council to satisfy the Examiners in those papers before being issued with a Practising Certificate.

A member engaging in Public Practise as an accountant or auditor when not in possession of valid Practising Certificate shall be subject to disciplinary action.

STYLE AND DESIGNATORY LETTERS
Members of the Institute are to describe themselves as Cost and Management Accountants and to use the designatory letters ACMA (Associate) and FCMA (Fellow)


MEMBERSHIP FEES
Membership fees are payable:
(i) On admission as an Associate, at the time of application

(ii) On election as a Fellow, at the time of application

An Annual Membership Subscription is payable, each January which shall be determined by the Council.

MEMBERSHIP APPLICATION
Application for membership must be made on the Institute’s approved form for that purpose and be accompanied by:

(i) Signed undertaking to observe the Articles, Constitution and Regulations of the Institute.

(ii) The Admission fee.

A student is required to make application for Membership within one year of successful completion of the examinations (whether or not he or she has completed the necessary period of accountancy experience). Should he or she not do so his or her name shall be removed from the Register of Students and the Council shall not be bound at any later time to give consideration to an application from him or her for admission to membership. If at the time of such application, the student is still undergoing the requisite period of accountancy experience then the Council shall defer Admission to Membership until that experience has been satisfactorily obtained.

ETHICS AND DISCIPLINARY CONTROL
The Institute attaches great importance to the implementation and enforcement of its Code of Ethics, which cover the relationship with clients, employer and the public at large, the impartiality of members and the requirement to perform their work to the highest standards.

All members are required to sign an undertaking at the time of admission to observe the Institute’s Articles, Constitution and Regulations.

Any professional or other misconduct or breach of the Articles, Constitution and Regulations of the Institute shall render a member liable to disciplinary measure.

Disciplinary procedures could result in the withdrawal of membership and or other Certificate issued to the member by the Institute.
 
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