A proposal for an evolving partnership between the Association of International Certified Professional Accountants (AICPA), the Chartered Institute of Management Accountants (CIMA), and Covenant University is in the works, with rewarding professional outlooks for certified graduates of Covenant.
This was the thrust of the presentation by the Business Development Manager of the AICPA, Mr. Oluseye Denton, when he visited the management of Covenant University last week. Mr. Denton said the partnership gives the Covenant the privilege of enjoying the resources of both professional bodies in preparing her students for the certification processes.
"We will work collaboratively with your university to offer benefits to students and alumni in accounting, business, and finance," he stated. According to him, the offer from both bodies includes the opportunity to be ahead of their peers by taking part in a few CIMA exams concurrently with their undergraduate or postgraduate studies via the CGMA Finance Leadership Program (FLP), which will provide them with real-life experience to enhance their business leadership skills and see them graduating with two qualifications: their degree from Covenant University and the CIMA qualification.
Mr. Denton, who came in the company of another Business Development Manager of the body, Mrs. Abiola Okai Oni, said when the partnership gets underway, it will help in mapping and aligning the university syllabus to the end that more exemptions will be offered to graduates of the Covenant and possible alignment of the training and professional development sessions for lecturers by CIMA approved training partners, with a focus on new and emerging areas in the profession.
In addition, he said the collaboration will create opportunities for revision workshops for CIMA students at the University by a CIMA-approved training provider, as well as avenues for undergraduate internships for students at the University, and recognition of the best-graduating accounting student at the University among other benefits.
The team from AIPCA used the opportunity to inform the Management of the University of the CGMA Business Leader Challenge, a national competition designed to bring out the best in future business leaders. According to Mr. Denton, the competition seeks to discover and nurture future business leaders in Nigeria.
The competition is based on an actual CGMA case study, where teams must participate in a quiz and present the given scenarios. The competition commences with the university preliminaries, which will be held in select universities, where registered teams of four undergraduates from any discipline participate in a quiz. There will be no limit to the number of team entries from each university. The winner from each university proceeds to the National Finals, where a panel of judges made up of industry leaders will determine the winning team.
Prizes would be won at both the preliminary and final stages for all participants and their academic advisors during the competition. Furthermore, this is an opportunity for the students to put into practice what they have been taught, as well as an excellent platform for employers to engage with outstanding candidates who demonstrate evidence of teamwork, analysis, problem-solving skills, and business understanding. Additionally, with the support of notable media houses, we will be showcasing this competition and the universities involved in it in both social and traditional media, thereby driving awareness for the institutions.
The Head, Department of Accounting, Professor Francis Iyoha, appreciated the AICPA for promising to add to the collection of existing resource materials in the departmental and school libraries, noting that it will go a long way in placing the professional body in front of not just the students but also the faculty and staff in the department.
The Dean, College of Management and Social Sciences, Professor Abiola Babajide, called for the immediate activation and consummation of the proposed MoU, noting that discussion and projections between the University and CIMA have gone beyond the present stage as there is already an existing relationship between both institutions.
In his remarks, the Vice-Chancellor, Professor Abiodun H. Adebayo, called for more visibility of both AIPCA and CIMA on the University’s campus, with a view to deepening the partnership between both institutions.
Professor Adebayo said AIPCA should consider setting up a Professorial Chair in the Department of Accounting or CIMA endowing a building for the purpose of advancing the study of Management Accounting which will also be another way of bringing both institutions to the forefront of scholars and researchers in the field of finance.
He assured the team of the University Management’s readiness to mobilize her students towards full participation in the Business Leader Challenge, as the University will work with the professional body towards training professionals that the world of work will be proud of.
Present during the parley were the Deputy Vice-Chancellor, Professor Olujide Adekeye; Acting Registrar, Mrs. Regina Tobi-David; Director, Financial Services, Pastor Olugbenga Kiki; and the Director, Vice-Chancellor’s Office, Professor Omotayo Osibanjo.