The Association of Cost and Management Accountants(ACMA) was established on the 15th June, 2006 as an offshoot of the Chartered Institute of Cost and Management Accountants(CICMA) with the following objectives:
- The objects for which the Association was established are:
- The promotion and encouragement of the study and development of the Science of Cost and Management Accounting.
- The advancement of education, particularly industrial and commercial education involving the study of the skills of Cost and Management Accounting for the benefit of the community in the field of industry, trade and commerce.
2 . In furtherance of the above object, but not otherwise the Association is empowered
(A) To foster and maintain investigations and research into the best means and methods of applying high standards of Cost and Management Accountancy in industry, trade and commerce, and to encourage, extend, increase, disseminate and promote knowledge and the exchange of information and ideas in regard to all questions relating thereto or connecting therewith. And to be appointed to carry out an investigation and audit of organizations, hence the objective.
(B)To hold, carry on or arrange and conduct meetings conferences, schools and visit, whether local, national or international, for those engaged in Cost and Management Accounting in both private and public sector, industry, trade and commerce.
( C)To prepare and make available to Members other publications dealing with the objectives and functions of the Institute and to establish and maintain a library available to the Members to aid in the study of Cost and Management Accounting in both private and public sector, industry, trade and commerce.
(D)To prescribe, uphold and improve the standard of training, experience and skills of persons engaged in Cost and Management Accounting in industry, trade and commerce.
(E)To promote schemes of examination and admissions for those seeking qualifications as Cost and Management Accounting in both private and public sector, industry, trade and commerce.
(F)To establish such things as may advance and promote the advancement of the profession of Cost and Management Accounting.
(G) To promote the highest professional standard of competence in the practice of the profession and the conduct of members.
(H) To conduct examination in Cost and Management Accountancy and other related subjects relevant to the profession and issue certificate of merit on the result and make awards as desirable.