For example, we recently joined the International Integrated Reporting Council (IIRC), and last year we joined the International Federation of Accountants (IFAC), the largest global body of accounting organizations, which represents about 2.5 million accountants. We have expanded geographically as well. In addition to our headquarters in Montvale, N.J., we have offices in Beijing, Shanghai, Dubai, Cairo, and Zurich, which assist in delivering value to our members in the Americas, Asia/Pacific, Middle East/Africa, and Europe.
Also, our CMA® (Certified Management Accountant) program continues to grow at a rapid pace, achieving a 25% compound annual growth rate over the last five years. In the last decade, we made two significant changes to the program to further align it with our vision. First, we began to offer the CMA exam in Simplified Chinese to meet a significant market demand in that region. Second, to address what CFOs were seeking in their staffs, we converted the exam to a more focused two-part exam. The CMA continues to be a highly respected, global certification that supports our vision and contributes to our growth and that of our members.
We continue to build relationships with other professional associations, government agencies, review course providers, and more to move closer to achieving our vision now and into the future. In addition, our chapters and regional councils continue to provide valuable networking and educational opportunities for our members.
We have significantly expanded the number of student members as well as student chapters in recent years, with more than 100 student chapters around the globe. Our students are the future of our association and the future financial leaders of our businesses. In fact, at our February Board meeting, we held a first-ever Student Leadership Experience, which exposed five students from schools recognized by our Higher Education Endorsement Program to best practices in governance. Also, IMA’s Annual Student Leadership Conference continues to grow in popularity.
As we continue our strategic journey, we can visualize a stronger, expanding association that remains committed to our vision. The focus is always on improving the value to our members and improving the management accounting profession. We have a unique opportunity as individuals and as an association to follow our vision and impact our profession well into the future.
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