A consolidated institute would need to preserve the unique attributes of all of its constituents.

As FM goes to press, CIMA is still in consolidation talks with CIPFA and the ICAEW. Goodwill remains on all sides, but complex issues still need to be resolved. Alter its December meeting, council decided that the proposals presented to it at that stage did not yet fully recognise the distinctiveness of CIMA. It has since responded positively to the outcome of two workshops held to allow council members to challenge the model and suggest alternatives to deliver CIMA's long-term strategy.

Council's meeting of February 4 mandated the leadership team handling the discussions with CIPFA and the ICAEW to continue talks until its next meeting in March. There's evidence that much of the work already achieved in discussion with the other bodies could be used in developing any new structure. From CIMA's perspective, it's vital that a new body would wholeheartedly embrace the attributes and values of CIMA that are so highly prized by all our stakeholders in business. Principally, this means ensuring that:

* The identity of management accounting is preserved in the body.

* There is full differentiation to reflect the different market segments represented by CIMA, CIPFA and the ICAEW.

* CIMA's distinctive education and training programme is recognised.

The other two bodies must also ensure that their unique attributes and values are reflected to their constituent markets. All three councils are considering the amendments. If it's feasible to incorporate them within the current schedule, we will do so. But it's far more important to focus on the long term and get the right deal for all stakeholders than to rush to meet this timetable.

CIMA has received a number of accolades over the past month highlighting our leading position as the qualification of choice for accountants in business. For the second year framing Robert Half International voted CIMA the most popular choice of accountancy qualification in the UK for part-qualified finance professionals. And Pass, a UK magazine for students, voted us the best student body of 2004. The institute has also just been nominated as a "business-to-business superbrand" for 2005 by the Superbrands Council.

More than 34,000 students sat the November exams--the last sitting of the current syllabus in over 150 centres worldwide. The results have shown continuing excellence. Emily Tyler, from Hyde in Cheshire, who is employed by AstraZeneca, deserves special mention for being placed first in the world in the final level professional examinations. She has been a consistently high-scoring candidate in all the papers she has sat with CIMA, winning three paper prizes. In addition, the "best in the world" prizewinner list includes four students from Sri Lanka.

CIMA Sri Lanka Division has now set up a tsunami relief fund through which members and supporters can make donations. This will be used to fund the initiatives of the Centre for National Operations, which is co-ordinating the relief effort. If you can help with this project, please send your contributions via www.payeasy.lk under the "Donations for tidal wave victims" category and select "CIMA Sri Lanka Division Relief Fund" on the payee menu. Alternatively, cheques or bank drafts payable to the CIMA Sri Lanka Division Relief Fund can be sent to CIMA, 356 Elvitigala Mawatha, Colombo 5, Sri Lanka.