* Any views expressed in this opinion piece are those of the author and not of Thomson Reuters Foundation.
Asked to name professions that set the blood racing, that are infused with bravado and derring-do, most people would pick racing driver, war surgeon, or pilot. Not many would attach such cachet to the noble art of accountancy, but they might just like to think again.
It is a fact that of all the myriad of qualifications available, the one which sets you most surely onto the road of leadership is accountancy, in particular management accountancy. Yes, the pilots and the surgeons and the drivers may seem to epitomize risk-taking, and laughing in the face of danger, but it is more than a fair bet that the CEO or Senior Executive, with his or her chartered management accountant’s badge, faces down much larger risks on a daily basis, keeping cool and making decisions which can have far reaching implications and can potentially affect thousands.
I have been working for the last 26 years in various management roles in the International Organization for Migration (IOM). We are an inter-governmental, global organization dealing with migration management through more than 450 offices worldwide, 10,000 staff implementing more than 3,000 projects with an annual budget of over $1.5 billion.
IOM is built on a decentralized structure that is project based, implementing migration projects in close proximity to where the need is – through a robust activity based accounting, management and reporting structure called “projectization”.
Mahatma Gandhi liked to say, “Live as if you were to die tomorrow. Learn as if you were to live forever.” I am proud – and grateful – to be qualified as CIMA, the Chartered Institute of Management Accountants. Of course, Gandhi was talking about more than academic qualifications, but in much the same way CIMA is more than an accounting qualification. Its real value is that it provides an excellent and solid foundation in the basics of any business in which one may work.
Like many of my peers and friends with strong accountancy qualifications I have developed the confidence to analyze, strategize, develop scenarios, and ask difficult questions on core business practices and to help businesses establish structures and processes that maximize returns and impact.
Thus CIMA should never be confused with mere accountancy qualification but rather viewed as a holistic and comprehensive journey of continuous learning. It’s a training that takes into consideration the complete spectrum, from processes, policy, financial management, operations and marketing and strategic planning of any business. CIMA professionals become equipped with the ability to analyze, forecast, prevent risks and seek opportunities that maximize shareholder value, strengthen business models and ensure high quality service delivery with a strong and professional ethical code of conduct.
The projectization model that is unique to IOM among intergovernmental organizations is built on the activity based accounting and management principle – which has ensured that IOM remains one of the most cost-effective and efficient organization with one of the lowest overhead rates as compared with similar inter-governmental global organizations.
In addition to this, the organization remains highly decentralized with its operations closer to the needs of beneficiaries – this is further complemented by its back-office functions located in cost efficient centers in Asia and Central America. The combination of these management structures and processes have made IOM very responsive, flexible and results oriented. These characteristics of IOM are highly valued and appreciated by all its stakeholders, especially the Member States.
Although VUCA (volatile, uncertain, complex and ambiguous) is a recent terminology – it’s similar to what I would call ‘variable geometry’. I am trained to deal with multiple, complex and at times abstract scenarios – which are akin to the real world we live in which we manage professional and personal lives that are in the process of changing and evolving at breakneck speed.
Much of the complexity which we are witnessing in the workplace is being driven by the technology, communication and data revolution. On a daily basis, there is need to analyze the variables of the business environment, projecting how the short-medium-long term changes in internal and external environment will impact the organization.
Over the last 15 years, in IOM, I have witnessed every aspect of the Organization quadruple (a trajectory that continues) as IOM has successfully implemented its mandate in extremely demanding and variable contexts, which are politically and operationally challenging. I can attest that a number of the values and principles I studied for have directly or indirectly influenced the management principles of the Organization.
As I was wiring this piece I learned that IOM has signed a significant Memorandum of Understanding (MOU) with leading global accounting organization Grant Thornton . It focusses on bringing together the best of both international organisations to assist migrant labourers across Southeast Asia.
Grant Thornton is a leading business adviser with extensive assurance and advisory skills needed in the assessment, certification and monitoring of how companies conform to international standards on ethical migrant labour practices, while IOM is the world’s largest organization dealing with migration-related issues. It may not initially seem like a match made in heaven, but the implications can be significant.
The MOU will enable research on ethical recruitment and working conditions of migrant labourers in the region. The two organizations will also draft a business case for ethical trading, recruitment and management of migrant labour with a special focus on South East Asia and extended supply chains.
Under the MoU, IOM and Grant Thornton intend to work with local and international companies on the issues of ethical trading, recruitment and management of migrant labour through field testing, validation, certification and on-going “organic” management of the company’s migrant labour practices. This means that we could be on the verge of helping the public to know which food they eat is ethically produced – and which has been produced by slaves.
Let’s see the pilots top that.
