New Delhi, Nov 21: To promote a new management accounting body -- the Institute of Cost and Management Accountants in Oman, the Institute of Cost and Works Accountants of India (ICWAI) has entered into a Memorandum of Understanding (MoU) with prominent Omani corporate group, Omar Zawawi Establishment LLC (OMZEST). OMZEST has diverse commercial interests, which includes promoting higher education in Oman. Under the MoU, ICWAI will provide technical guidance to Oman in developing the syllabus relevant for the Omani economy and help in conducting the examinations periodically. The pass certificates will be awarded by the Institute of Management Accountants Oman (IMA Oman).
In the first phase, technician level courses will be introduced followed by Business Accounting certification and later on the management accounting qualification. The course will also include training modules with Oman's business units for the students. According to ICWAI President Kunal Banerjee, the global summit of Management Accountants held in January 2008 in Delhi gave a fillip to the efforts of ICWAI to go beyond the borders and make its presence felt globally. As a result, it is co-promoting the new management accounting body in the Sultanate of Oman.
Meanwhile, the Confederation of Asian and Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA), are also planning to establish an Institute of Management Accountants in Oman (IMAO). In this case too, ICWAI will play the role of technical collaborator/professional service provider/consultant to academics programme for designing the course syllabus of IMAO for awarding certificates. The certificates awarded by IMAO will specifically mention that the programme has been designed and examinations conducted by ICWAI.