IMA names new president and CEO

The Institute of Management Accountants has named Mike DePrisco as its new president and CEO, succeeding longtime leader Jeff Thomson in April, as the organization goes through a restructuring.

DePrisco comes from the Project Management Institute, an association for the project, program and portfolio management profession, where he has been chief operating officer and interim president and CEO since 2021. He has been with the PMI for a decade and prior to that was president of the Art Institutes, a group of art and design colleges that later fell into financial disarray. He served as campus president at three different Art Institute locations in the Mid-Atlantic region. Before that, he served as vice president of student affairs at Education Management Corporation.

He will be succeeding Jeff Thomson, who has led the IMA for nearly 15 years as president and CEO. DePrisco will join the IMA on April 3, 2023.

He specializes in optimizing member benefits, digital delivery and change management within organizations. While at PMI, DePrisco helped the organization grow to 1.4 million active certification holders, 680 thousand members and 300 chapters across more than 200 countries. DePrisco holds bachelor's and master's of science degrees in education from West Chester University of Pennsylvania and a certificate in Company Direction (International) from the Institute of Directors.

"I am looking forward to joining IMA, serving, and working with our global members and board of directors," DePrisco said in a statement Monday. "I am excited to join an outstanding leadership team to build IMA strategically for the future and enhance member value across the accounting and finance profession."

The IMA recently laid off an undisclosed number of employees as part of a strategic restructuring. "IMA did implement a strategic restructuring impacting headcount — the first time we've done so in approximately two decades," said IMA spokesperson Giuseppe Barone. "Having served the profession for more than 100 years, we appreciate and respect the contributions of all our employees. IMA will continue to invest in new markets, products, services, partners and talent. Several announcements on strategic investments will be made this quarter." He declined to provide a percentage or number of employees.

As president and CEO, DePrisco will oversee all of IMA's strategies, initiatives and operations. He will work with senior staff and the global board of directors in delivering on IMA's mission to serve the global management accounting profession. DePrisco's selection comes after a long search process conducted by a volunteer committee, led by the IMA's chair emeritus, Steve McNally, who partnered with the executive search firm Korn Ferry to lead the search.

"We are delighted to welcome Mike to IMA and look forward to him leading the organization's growth with his cross-functional and cross-business perspectives," said McNally in a statement. "Coupled with his global experience in leading associations with thousands of members and certification holders, along with hundreds of chapters, IMA's future is bright with Mike as our next president and CEO."

"Mike has a track record of creating cultures that enable collaboration and drive innovation," said Gwen van Berne, chair of the IMA's global board of directors, in a press release. "We are happy that the hard work of the search committee culminated in this positive result, and we thank the volunteers that served on the task force to help us find a trusted leader that can move IMA forward."

CSCA eligibility

The IMA has been growing over the years, especially in the number of Certified Management Accountants it has attracted. Last week it announced its Certified in Strategy and Competitive Analysis certification program is expanding to include eligibility for professionals from other certification groups. The CSCA helps professionals master the concepts and techniques required to become key players in driving strategic planning at their organizations. Previously, only CMAs were eligible for the CSCA. In the U.S. the Certified Financial Manager (CFM), is also an eligible certification that qualifies for the CSCA, as well as the American Institute of CPAs' CPA certification, the CFA Institute's Chartered Financial Analyst (CFA), the Institute of Internal Auditors' certified Internal Auditor (CIA), the Association of Certified Fraud Examiners' Certified Fraud Examiner (CFE), the Association for Finance Professionals' Certified Treasury Professional (CTP), and the Association of Government Accountants' Certified Government Financial Manager (CGFM) will also qualify. In other countries such as the U.K., the Association of Chartered Certified Accountants' ACCA, as well as Chartered Accountants (CA), can qualify. Others may be added to the list on the CSCA FAQs page.

"With routine tasks becoming automated, upskilling is essential for all professionals," said Srikrishna Mankal, chair of the Institute of Certified Management Accountants Board of Regents, in a statement Thursday. "Professionals need to learn on a continuous basis to be effective leaders, which is one of the reasons why we are opening the CSCA to select accounting and finance certification holders. The knowledge gained from the CSCA will foster career development for all those that earn the certification."

Candidates who are interested in earning the CSCA sit for one three-hour exam consisting of 60 multiple choice questions and one case study. Passing the exam qualifies the individual for 30 ICMA CPE credits. The CSCA is available for testing in March and September every year.

For more information, click here.

In other recent IMA news, the George Mason University School of Business accounting program announced its endorsement by the IMA, recognizing the school's high educational standards and commitment to advancing the field of management accounting.

Through this endorsement, students will now have the opportunity to earn the CMA credential. George Mason said it's now the first and only IMA-endorsed university in Virginia, and the largest university in the Delaware-Maryland-Virginia region to earn this endorsement.