01 September 2005
Charles Tilley, CIMA chief executive, has presented awards to two leading academics for the inclusion of their article ‘When our chip comes in’, in the top ten International Federation of Accountants’ (IFAC) Articles of Merit for 2005.
Professor Gavin Reid (University of St Andrews) and Dr Julia Smith (Cardiff Business School) generated the article from findings of CIMA-funded research. Focusing on emerging practices in risk management for venture capitalists, this Article of Merit recognises the importance of academic research undertaken for its application in business.
Charles Tilley said:
“CIMA champions business-related research and is a leading donor of research that supports and informs accountants in business. It is important that the Research Assessment Exercise (RAE) takes into account the value of practical, business – based research and ensures that the gap does not widen between academia and practitioners.”
The award was presented on 02 September at CIMA’s Research Assessment Exercise (RAE) forum which is to be attended by leading academics, including Professor Reid and Dr Smith, to discuss the criteria for assessing academic funding in 2008.
Lottie Muir
Press & PR Manager, CIMA
020 8849 2407
lottie.muir@cimaglobal.com
1. CIMA (the Chartered Institute of Management Accountants) is a leading professional body that offers an internationally recognised qualification in management accountancy, focussing on accounting in business. It is the fastest growing UK based membership body, in terms of members, in both the UK and worldwide and is the voice of over 85,000 students and 65,000 members in 156 countries. CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body. CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually reflecting the latest developments in global business. It is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy. For more information about CIMA, please visit www.cimaglobal.com
2. The article ‘When our chip comes in’ (Financial Management, May 2004) by G Reid and J Smith provides a practical and innovative abstract of how to evaluate and account for the risks inherent in early-stage high-tech firms, an area of growing importance to professional accountants in business in many countries. The authors identify the most important areas of risk management to emerge for venture capitalist high technology firms, which are surprisingly different to that of normal total company risk. The article also highlights the differing perceptions of investors and investees of the importance of different risk categories. Additional topics of interest to professional accountants in business covered in the article include intangible assets and intellectual property. For a copy of the article, please visit www.cimaglobal.com/articlesofmerit
