The AICPA & CIMA Launches Registered Apprenticeship for Finance Business Partners Program in the State of California

• Program partners with accounting and finance profession leaders to enhance talent pipeline in the State of California.
• The nation's first-of-its-type and U.S. Department of Labor-backed program to develop more skilled and longer-term employees.

NEW YORK, May 29, 2024 /PRNewswire/ -- AICPA & CIMA, which together form the Association of International Certified Professional Accountants, have today announced the launch of the Registered Apprenticeship for Finance Business Partners in the State of California. The program partners with the California Society of CPAs (CalCPA) and accounting and finance leaders to enhance the California talent pipeline by providing instruction leading to a profession-recognized credential, on the job training and mentorship.

The Registered Apprenticeship for Finance Business Partners is the nation's first-of-its-type program for accounting and finance. It is dedicated to establishing a pipeline of highly engaged candidates that allows employers to monitor and develop more skilled, and long-term employees. The program is built on the globally rigorous CGMA Finance Leadership Program leading to the award of the Chartered Global Management Accountant (CGMA) designation.

"Talent identification, recruitment, and retention is an ongoing and major business challenge. Today's business environment is highly competitive with skills development and career progression being the new currencies for companies looking to hire, develop and keep the best talent," said Tom Hood, CPA, CGMA, EVP of Business Growth & Engagement, AICPA & CIMA. "Considering the rapid pace of change, especially with technology, and the specialization required in the accounting and finance function, companies are increasingly seeking to 'grow their own' and to train and develop new hires and existing staff to meet the challenges they face as they transform to become the finance function of the future. We are excited to provide this pathway to enhance the future of the profession in California."

Since its launch in 2022, the Registered Apprenticeship for Finance Business Partners is now registered in the States of Florida and Maryland and has grown to include accounting and finance apprentices in over 15 industries. The nation's first-of-its-type and U.S. Department of Labor-backed program's growth into California continues this rapid advancement.

"California's investments and policy support for apprenticeships are generous and extensive. They provide an excellent opportunity to grow our profession and our professionals through apprenticeship. We have partnered with CalCPA to provide our recently launched Registered Apprenticeship for Finance Business Partners in California," noted Joanne Fiore, VP – Pipeline & Apprenticeships at the AICPA & CIMA. "We are also introducing a new entry level Registered Apprenticeship for Accounting and Finance Associates, for those who are interested in upskilling but not yet ready to decide to become a Finance Business Partner and earn the CGMA designation."

"As an active collaborator in ensuring the accounting and finance profession can continue to support consumers and the public, CalCPA is pleased to partner with the AICPA and use the apprenticeship model to create opportunities in California," said Denise LeDuc Froemming, President & CEO of California Society of CPAs. "The demand for accounting and finance skills in our State is high and I'm excited to see how apprenticeships can be used to meet the demand while successfully upskilling professionals."

For more than a century, the AICPA & CIMA has focused on driving a robust pipeline of professionals prepared to support and grow organizations worldwide. The Registered Apprenticeship for Finance Business Partners is the latest step in that mission.

Benefits of the Registered Apprenticeship for Finance Business include: 

For employers, apprenticeship programs –

• Are career development programs that establish a pipeline of employees that employers can develop and monitor over time to greatly increase the chance of developing a highly engaged, more skilled, long-term employee.
  
  
• Are a talent pipeline management tool, which allows organizations to build, in addition to buy talent, and in doing so take control over how they address ongoing and future needs of their organization and improve recruitment.
  
  
• Expand the candidate pool by providing experiences and education that the candidate may not have at the start and allows employers to consider a broader range of candidates.

For apprentices, these programs allow them to earn a paycheck while they learn and benefit from exposure to more career development and mentoring opportunities. If interested in learning more about the Registered Apprenticeship for Finance Business Partners contact [email protected].

About AICPA & CIMA, together as the Association of International Certified Professional Accountants

AICPA® & CIMA®, together as the Association of International Certified Professional Accountants (the Association), advance the global accounting and finance profession through our work on behalf of 597,000 AICPA and CIMA members, candidates and registrants in 188 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license, the CGMA designation and specialized credentials, professional education and thought leadership. We build trust by empowering our members, candidates and registrants with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future. 

SOURCE AICPA & CIMA