CIMA South Africa part qualified salary survey 2010

CIMA salary survey 2010 – South Africa

Foreword 1

Executive summary 2

Main findings 4

Salaries and bonuses 4

Gender 4

CIMA level 5

Size of business 5

Sector 6

Job role 7

Future 7

Recruitment and retention 8

Satisfaction with salary 8

Importance of benefits 9

Satisfaction with benefits 10

Working hours 10

Skill set requirements 12

Geographical mobility 12

Top destinations 14

One word to describe CIMA difference 14

Country specific salary information 15

Technical information 16

Further information 16

Global contacts 17

1

Foreword

On behalf of the Chartered Institute of Management Accountants

(CIMA), I would like to welcome you to our second global student

salary survey. The results in this report will provide you with an insight

into the current employment experiences and career aspirations of the

business leaders of tomorrow – CIMA’s South African student base.

Despite ongoing economic instability in many regions around the

world, our report shows a strong relationship between our students and

their employers. Businesses are looking to their professionally-qualified

management accountants to help guide them through the recession

and on to sustainable success. This gives our students a greater sense of job security than those

studying for many other professional qualifications.

Our global survey clearly shows that most of our students believe they are recession-proof.

92% do not anticipate being affected by redundancy in 2010.This response could also reflect

an increasingly optimistic view of the general economic conditions: this percentage is even

higher than the level of confidence felt by students in last year’s survey (83%). Moreover,

nearly two thirds are feeling positive enough to make a job move in the next two years,

although with this feeling of security comes higher expectations. This year, just 51% of

students are happy with their current salary compared with 58% in 2009. The drop could

indicate a greater sense of professional value as the downturn lifts

This report which focuses on CIMA students in South Africa identifies a number of important

trends. In South Africa, the average annual student remuneration package (salary and bonuses)

is R397,911. Although only 55% of students are satisfied with their current salary and 61%

with their benefits, job security and satisfaction is generally good. Just 4% are fearful about

redundancy and 6% of a pay freeze. Our students’ sense of value is also reflected in the 70%

who are considering changing jobs in the next two years and the 21% of those who are

considering work overseas. In terms of gender, South African men typically earn 11% more

than women.

Overall, the global survey reinforces the fact that a growing number of students are finding

that CIMA’s professional accountancy qualification is the best way to develop their career

potential. In 2009 we saw a second year of record student growth and, for the first time, a

majority of our new students (56% of the total) were based outside the UK.

Please read through the following pages to find further snapshots of our students’ working

lives. I hope you find it informative reading.

Charles Tilley

Chief Executive

CIMA

2

Executive summary

Since the turn of the millennium, the South African economy has grown reasonably steadily,

achieving growth rates of around four or five percent in most years. However, global

economic turmoil began to have a notable impact on the South African economy in Q3

2008, with the situation worsening significantly during Q4 2008 and Q1 2009. The net

effect of this has been that growth slowed to 3.7% during 2008 and actually declined by

1.8% during 2009, with manufacturing, mining and quarrying experiencing the steepest

declines. However, South Africa’s economic growth is likely to exceed the Treasury’s target

this year and next as a global economic rebound bolsters demand for exports, with the latest

estimates from the OECD predicting growth of 3.3% this year and 5% in 2011.

The second annual global salary survey of CIMA students was carried out in February 2010. A

total of 2,563 employed students (who had sat an exam within the last two years under the

2005 CIMA qualification structure) contributed to the survey of which 324 responses were

from South Africa. This report summarises the results of this survey with a particular focus

on South Africa, looking at how recent economic events are impacting on salary levels and

benefit packages experienced by CIMA students working there.

Salaries and bonuses

• The average annual basic salary for CIMA students working in South Africa is R364,198

with an average bonus of R33,713. Students in South Africa receive an average

remuneration package of R397,911, just a R911 increase since 2009.

• 80% are expecting to receive a bonus in 2010, down from 87% in 2009. The average

bonus amongst those expecting one is R42,337.

• Men are typically paid 11% more than women this year (R413,940 vs R372,392). This

difference in pay is smaller than last year when men were typically paid 19% more.

• Female students’ salaries have increased 5% (or R18,792) in 2010, while male students’

salaries have recorded a slight decrease of 1.5% (or R5,960).

• Managerial level students are the lowest earners with an average total salary package of

R383,491 (4% or R14,420 lower than the South African student average). Higher level

students are the highest earners, with TOPCIMA/passed finalists earning 7% (or R27,517)

above the average in South Africa.

• Those in large organisations (500+ employees) generally earn a total salary package 19%

higher than those in smaller organisations (R421,218 vs. R353,170).

• 6% of students are expecting a pay freeze while 4% are fearful of redundancy in 2010.

3

Recruitment and retention

• Salary satisfaction levels have stayed consistent in 2010, with 55% again stating they are

either extremely satisfied or satisfied with their current salary package.

• Salary satisfaction is significantly higher amongst female students. 63% of female

students are extremely satisfied or satisfied with their salary compared to 50% of males.

• The difference in pay by level of study is reflected in salary satisfaction across the CIMA

levels. Managerial level students, who typically earn the least, are less satisfied than high

level and higher earning students (49% vs. 63%).

• Satisfaction with benefits is slightly higher this year with 61% stating they are extremely

satisfied or satisfied with the current benefits package they receive.

• Satisfaction with benefits is slightly higher amongst women (65% vs. 60% of men).

• Students place most importance on receiving study leave, bonuses and healthcare

benefits. 72% of CIMA students in South Africa can take study leave, whereas fewer

receive bonuses and healthcare as part of their benefits package (52% and 37%

respectively).

• Over half of students (56%) work between 41 and 50 hours per week with the average

being 44 (slightly above the global average of 42).

• 42% expect their working hours to increase, compared to 35% globally.

• In 2010 strategic planning and implementation (62%), leadership skills (58%), and

reporting and analysis (49%) continue to be the main focus for skills development in the

next 12 months.

Geographical mobility

• Only 30% of students are planning to stay with their current employer in the next two

years, with 44% of students in South Africa looking to change employer in the next year.

• 21% of those looking to move will be seeking a new position in a new country. English

speaking countries are the preferred destinations with the UK (53%), Australia (45%) and

the USA (40%) being the top three favoured destinations.

4

Main findings

Salaries and bonuses

The average annual basic salary for CIMA students working in South Africa is R364,198 with

an average bonus of R33,713. Students in South Africa receive an average remuneration

package of R397,911, a R911 increase since 2009.

In Johannesburg, where 61% of South Africa’s highest tier earners are based the average

basic salary rises to R392,400 per annum.

80% of students are expecting to receive a bonus in 2010, down from 87% in 2009 – this

is significantly higher than the global average of 58%. The average bonus amongst those

expecting one is R42,337 (11% of salary).

Gender

The difference in salary packages between the genders has decreased in 2010. Men typically

received 19% more than women in 2009; this has now fallen to 11%. This is largely due to

the increase recorded in female students’ salaries. Salary packages amongst women have

increased 5% (or R18,792) in 2010, while men’s salaries have recorded a slight decrease of

1.5% (or R5,960).

Remuneration package by gender

Salary Bonus Total package

South Africa overall R364,198 R33,713 R397,911

Male R377,387 R36,553 R413,940

Female R343,200 R29,192 R372,392

The increase in women’s salaries and the reduction in salary gap could be attributed to the

shift in the proportion of female to male respondents with 5+ years of work experience. In

2009, 36% of men had in excess of five years’ experience compared to 25% of women – in

2010 this is much more even with 21% of men and 25% of women.

On average males are earning R41,548 more than females.

5

CIMA level

Almost half (49%) of CIMA students in South Africa are studying at managerial level1 (global

average 43%), 31% are at strategic level, and 20% are TOPCIMA/passed finalists, showing a

slightly higher proportion of less qualified students this year.

Managerial level students are the lowest earners with an average remuneration package

of R383,491 (4% or R14,420 lower than the South African student average). Higher level

students are the highest earners, with TOPCIMA/passed finalists earning 7% (or R27,517)

above the average in South Africa.

Average salary and bonus by CIMA level

Size of business

Over half of students (59%) work in organisations with more than 500 employees. Men

are more likely to work in larger organisations (500+) – 61% compared to 55% of women.

Those in large organisations generally earn a total salary package 19% higher than those in

smaller organisations (R421,218 vs. R353,170).

Average salary and bonus by size of business

1 For the purposes of this survey, CIMA level data was collected under the 2005 CIMA qualification structure and refers to those at managerial level, strategic level, TOPCIMA and passed finalists. For comparison under the 2010 qualification structure, these levels are respectively now known as operational/management level, strategic level, T4 Part B Case Study and exams complete.

On average TOPCIMA students and passed finalists are earning R41,937 more than managerial level students.

Those in large organisations generally earn a total salary package 19% higher than those in smaller organisations.

TOPCIMA/passed finalist

Strategic

Managerial

South Africa overall

R425,428R396,053

R368,317

R349,057

R364,198

R403,403

R383,491

R397,911

Salary Bonus Total

Manufacturing and engineering

Retail and consumer goods

Banking, finance and insurance

Accountancy

South Africa overall

R425,439R391,228

R379,310

R351,923

R364,198

R413,164

R383,332

R295,000 R319,417

R397,910

Salary Bonus Total

500 or more employees

Less than 500 employees

South Africa overall

R421,218R384,166

R324,336

R364,198

R353,170

R397,911

Salary Bonus Total

TOPCIMA/passed finalist

Strategic

Managerial

South Africa overall

R425,428R396,053

R368,317

R349,057

R364,198

R403,403

R383,491

R397,911

Salary Bonus Total

Manufacturing and engineering

Retail and consumer goods

Banking, finance and insurance

Accountancy

South Africa overall

R425,439R391,228

R379,310

R351,923

R364,198

R413,164

R383,332

R295,000 R319,417

R397,910

Salary Bonus Total

500 or more employees

Less than 500 employees

South Africa overall

R421,218R384,166

R324,336

R364,198

R353,170

R397,911

Salary Bonus Total

6

Sector

CIMA is important to the broad base of international industry with accountancy, and the

manufacturing and engineering sectors employing the highest proportion of CIMA students

(19% and 18% respectively), followed by the banking, finance and insurance (16%) and

retail and consumer goods (9%) sectors.

Slightly more female students can be found in the accountancy and banking (26% vs.

14%), and finance and insurance (41% vs. 31%) sectors, as well as the manufacturing and

engineering sector (22% vs. 15%).

Students at managerial level are more likely to be in the manufacturing and engineering

sector (22% vs. 12% strategic students and 16% TOPCIMA/passed finalists).

Although the base numbers are too small to draw any reliable conclusions (324), the chart

below offers an indication of the trends by key sectors.

Average salary and bonus by sector

TOPCIMA/passed finalist

Strategic

Managerial

South Africa overall

R425,428R396,053

R368,317

R349,057

R364,198

R403,403

R383,491

R397,911

Salary Bonus Total

Manufacturing and engineering

Retail and consumer goods

Banking, finance and insurance

Accountancy

South Africa overall

R425,439R391,228

R379,310

R351,923

R364,198

R413,164

R383,332

R295,000 R319,417

R397,910

Salary Bonus Total

500 or more employees

Less than 500 employees

South Africa overall

R421,218R384,166

R324,336

R364,198

R353,170

R397,911

Salary Bonus Total

7

Job role

Organisational structure is traditional, as 76% of respondents sit in the finance division. A

further 11% reside in the operations division and 5% in strategy.

CIMA students most commonly report their job title as management accountant (19%),

finance manager (16%) and accountant (11%), demonstrating the strategic nature of many

students’ roles.

Future

Only 12% of students in South Africa are anticipating one or more negative factors (i.e. pay

freezes, redundancy, a shorter working week or a salary reduction) impacting their salary in

2010 – this is significantly lower than the global average of 43%. Of those who do expect

to be affected by one or more of these factors, 6% are expecting a pay freeze while 4% are

fearful of redundancy.

Anticipated impacts in 2010

• On average CIMA students annual salary is R397,911

• The average bonus is R33,713 across all respondents

• 20% don’t expect to receive a bonus in 2010

• For the 80% expecting a bonus the average bonus is R42,377

• On average men earn 11% more than women

88%

6%

4%

3%

2%

None of the below

Pay freeze

Redundancy

Salary reduction

Shorter working week

8

Recruitment and retention

Satisfaction with salary

Salary satisfaction levels have stayed consistent in 2010, with 55% stating they are either

extremely satisfied or satisfied with their current salary package.

Salary satisfaction is significantly higher amongst female students. 63% of female students

are extremely satisfied or satisfied with their salary compared to 50% of males. These levels

of satisfaction have shifted from 2009, where 57% of male students were either extremely

satisfied or satisfied compared to 51% of females. The increase in satisfaction amongst

women could be attributed to the increase in salaries they have recorded and reduced

gender disparity.

Unsurprisingly, those people earning the highest salaries were the most likely to say they

were satisfied with their earnings. In fact the majority of students earning in excess of

R250,000 (i.e. high tier earners) appear to be happy with current salary levels (76%). For

those earning under R150,000 (i.e. low tier earners), satisfaction levels are low (31%).

Percentage satisfied or extremely satisfied with salary by salary level

The difference in pay by level of study is reflected in salary satisfaction across the CIMA

levels. Managerial level students, who typically earn the least, are less satisfied than high

level and higher earning students (49% vs. 63%).

Salary satisfaction levels have stayed consistent in 2010 at 55%.

73%76%

63%55%

55%55%

27%31%

High tier earners (>R250,000)

Mid tier earners

Low tier earners (<R150,000)

South Africa overall

2009 2010

9

Importance of benefits

The four most important benefits identified by South African students are study leave,

bonus, healthcare and pension with 72% of CIMA students currently receiving study leave

as a benefit. Fewer receive bonuses and healthcare as part of their package (52% and 37%

respectively) but as they are the most widely received, it suggests employers are also aware

of the importance of offering these benefits.

Study leave (72%), pension (52%) and bonus (52%) are the top three benefits students

are likely to receive, followed by contribution/payment of CIMA fees (40%) and healthcare

(37%).

Importance of benefits (mean score) by benefits received 5 = extremely important, 1 = not at all important

There are few significant differences between genders when it comes to the types of benefits

received. The only notable differences are that men are significantly more likely to receive

life assurance (21% vs. 10%) while more women have the option to work from home (11%

vs. 5%). The latter is likely to be a reflection of the higher proportion of females being self

employed/one person companies.

TOPCIMA/passed finalists receive the most benefits and are more likely to receive

healthcare, pay rises and bonuses as incentives for passing exams, contribution to CIMA fees,

and product savings and discounts.

4.7 4.6 4.6 4.54.2 4.2 4 4

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Employers could improve satisfaction levels by offering pay rises or bonuses as an incentive for passing exams.

10

Satisfaction with benefits

Satisfaction with benefits is slightly higher than that of salary with 61% stating they are

extremely satisfied or satisfied with the current benefits package they receive. The global

average is 67%.

Satisfaction with benefits is slightly higher amongst women (65% vs. 60%). Compared

with 2009 figures, women’s satisfaction has risen from 50% whereas men’s satisfaction has

decreased from 66%. The decrease amongst men could be attributed to the fact that 8% of

men do not receive any benefits this year compared to just 2% of women.

As with salary satisfaction, the highest earning students are also most satisfied with the

benefits they receive. Satisfaction amongst high tier earners in 2010 is 80% (up from 72% in

2009) compared to 38% (down from 41% in 2009) amongst low tier earners.

Percentage satisfied or extremely satisfied with benefits by salary level

Working hours

Over half of students (56%) work between 41 and 50 hours per week, with the average

being 44 hours (slightly above the global average of 42 hours). The average hours worked per

week by men is slightly higher than women (45 vs. 43).

CIMA students in large scale organisations (500+ employees) are working longer hours; they

typically work an average of 45 hours per week, compared to 43 hours worked by those in

smaller companies.

72%80%

67%64%

60%61%

41%38%

High tier earners (>R250,000)

Mid tier earners

Low tier earners (<R150,000)

South Africa overall

2009 2010

11

42% of students are expecting their hours to increase, compared to the global average

of 35% and down from 49% in 2009. The most reported reason for an increase in hours

is taking on more responsibility/more pressure (66%), followed by understaffing/lack of

resources (40%). Company growth is cited by nearly one-third (32%) of students expecting

their hours to increase in 2010, compared to 22% this time last year.

Requirement to work outside normal hours

Those in organisations with less than 500 staff are more likely to cite company growth as

the reason for the increasing need to work outside normal hours (43% vs. 25%), whereas

those in large organisations are more likely to cite company culture (30% vs. 10%).

Reasons for increasing hours

42%

5%

Increasing

Decreasing

Staying the same53%

Company growth is cited by 32% of students expecting their hours to increase in 2010, compared to 22% this time last year.

62%66%

46%40%

22%32%

29%31%

18%21%

24%15%

Taken on more responsibility/more pressure

Understaffing/lack of resources

Company growth

My role has changed

Company culture

Current financial climate

2009 2010

12

Skill set requirements

In 2010, strategic planning and implementation (62%), leadership skills (58%), and reporting

and analysis (49%) continue to be the main focus for skills development in the next 12

months. Other popular areas include personal development (48%), decision making (45%),

project management (42%) and risk management (41%).

Skill sets required

Female students have a higher desire to attain decision making skills (52% vs. 41%), problem

solving skills (40% vs 29%) and communication skills (47% vs. 35%).

Managerial level students are looking to gain a wider range of skills, reflecting their lower

level of experience. They are more likely to be looking to acquire decision making, reporting

and analysis, budgeting, and problem solving skills.

Geographical mobility

70% of students in South Africa anticipate that they will change jobs within the next two

years. Indeed, as many as 31% would like to change jobs in the next six months.

Timescale to job move

62%

58%

49%

48%

45%

42%

41%

40%

35%

34%

33%

33%

24%

23%

20%

19%

10%

Strategic planning and implementation

Leadership

Reporting and analysis

Personal development (e.g. career planning, time management)

Decision making

Project management

Risk management

Communication (e.g. negotiating, writing, presenting)

Budgeting

Skills for developing others (e.g. assessing performance, coaching)

Persuading and influencing

Problem solving

Time management

Team building

IT software (MS Excel, Word, Powerpoint, etc.)

Internal audit and control

IT (hardware systems)

26%

13%

15%

16%

30%

1-2 years

7-11 months

4-6 months

0-3 months

Not currently seeking

70% of students intend to change jobs in the next two years.

13

The proportion of women looking to change jobs has decreased from 84% in 2009 to 70%

in 2010. This could potentially be because of the increase in salaries recorded amongst

female students.

Relocation reasons of those likely to move abroad

The desire for an improved quality of life (62%) is the biggest driver behind a move abroad,

followed by a new career opportunity (55%), improved salary (51%), experience of a

different culture (47%) and better employment opportunities (40%). An improved quality

of life has moved from the fifth most important reason for relocating in 2009 to the most

important in 2010.

Of those students looking to change jobs, 21% are planning to work overseas (down from

27% in 2009). English speaking countries are the most favoured destinations with the UK

(53%), Australia (45%) and the USA (40%) being the top three destinations, followed by

Canada (15%) and New Zealand (13%).

52%62%

57%55%

65%51%

57%47%

56%40%

22%32%

36%30%

30%30%

36%15%

20%15%

19%9%

13%9%

Improved quality of life

New career opportunity

Improved salary

Experience a different culture

Better employment opportunities

Stronger economy

Improved employment conditions

Take time out/travel

Work promotion

Friends and family

Internal company transfer

To learn a new language

2009 2010

An improved quality of life has moved from the fifth most important reason for relocating in 2009 to the most important in 2010.

14

Top destinations

Mobility of CIMA qualification

One word used to describe how CIMA is different from other accountancy qualifications...

The size of the font reflects the number of times the word was spontaneously mentioned.

New Zealand13%

Australia45%

USA40%

UK53%

Canada15%

Man

agem

entGlobal

Professional

Broad Diverse

International

Dynamic

Unique

Interesting

Practical

Strategic

Excellent

Challenging

Quality

Comprehensive

Comprehensive

Flexible

Relevantbusiness

All-encompassing

Difficult

Focus

Holistic

Innovative

15

Country specific salary information

This section provides a breakdown of country specific salary information by key indicators

(where the sample base is large enough to provide reliable information).

South Africa

Base: 324 Salary Bonus Package

Total R364,198 R33,713 R397,911

Age

Under 25 R204,545 R12,727 R217,272

25-34 R327,660 R30,421 R358,081

35-44 R485,821 R47,433 R533,254

45 and over R563,636 R41,455 R605,091

Gender

Male R377,387 R36,553 R413,940

Female R343,200 R29,192 R372,392

Level

Managerial R349,057 R34,434 R383,491

Strategic R368,317 R35,087 R403,404

TOPCIMA R400,000 R27,356 R427,356

Passed finalist R392,105 R31,395 R423,500

Size of organisation

Sole trader R336,842 R30,954 R367,796

Micro (2-9) R323,684 R24,421 R348,105

Small (10-49) R300,000 R22,523 R322,523

Medium (50-249) R358,621 R32,405 R391,026

Large (250+) R384,146 R37,072 R421,218

Experience since enrolling

Less than 1 year R344,000 R34,000 R378,000

1-2 years R288,356 R26,959 R315,315

2-3 years R312,879 R29,337 R342,216

3-4 years R332,692 R26,389 R359,081

4-5 years R407,143 R33,514 R440,657

5 years + R495,205 R49,637 R544,842Man

agem

entGlobal

Professional

Broad Diverse

International

Dynamic

Unique

Interesting

Practical

Strategic

Excellent

Challenging

Quality

Comprehensive

Comprehensive

Flexible

Relevantbusiness

All-encompassing

Difficult

Focus

Holistic

Innovative

16

 

Technical information

Data collection for the CIMA Global Part Qualified Salary Survey 2010 was carried out

by CIMA itself online during the period 28 January to 14 February 2010. The data was

subsequently rim weighted (by Redshift Research) by country to ensure the profile of the

survey sample accurately represents all CIMA markets.

13,980 CIMA students globally were selected and invited to participate (UK, Ireland, South

Africa, Sri Lanka, Malaysia, India, Hong Kong, Australia, Mainland China, UAE, Botswana,

Pakistan, Russia, Poland and Zambia). A total of 2,563 completed the study globally (18%

response rate), with 324 responses from South Africa. Basic responses were as follows:

The survey represents a re-run of the annual part qualified salary survey, the previous

iteration of which was conducted during January/February 2009. In 2010 the definition of

the high, medium and low salary bands has changed slightly with those earning between

R250,000 and R449,999 previously being considered as ‘medium’, whereas the definition has

dropped to between R150,000 and R249,999 this year.

For the purposes of this survey CIMA level data was collected under the 2005 CIMA

qualification structure and refers to those at managerial level, strategic level, TOPCIMA

and passed finalists. For comparison under the 2010 qualification structure these levels are

respectively now known as operational/management level, strategic level, T4 Part B Case

Study and exams complete.

Further information

For further information on technical matters relating to this survey, contact

yourvoice@cimaglobal.com

For further country specific analysis and reports visit CIMA MY JOBS at

http://myjobs.cimaglobal.com

Table of responses by age band

Under 25 11

25-34 235

35-44 67

45 and over 11

Total 324

Table of responses by gender

Male 199

Female 125

Total 324

Table of responses by CIMA level

Managerial 159

Strategic 101

TOPCIMA 26

Passed finalist 38

Total 324

17

Global contacts

CIMA UK – Head Office26 Chapter StreetLondonSW1P 4NPUnited KingdomT. +44 (0)20 8849 2287F. +44 (0)20 8849 2450E. cima.contact@cimaglobal.comwww.cimaglobal.com

CIMA AustraliaSuite 1305109 Pitt StreetSydney NSW 2000AustraliaT. +61 (0)2 9376 9900F. +61 (0)2 9376 9905E. sydney@cimaglobal.comwww.cimaglobal.com/australia

CIMA BotswanaPlot 50676, 2nd Floor, Block BBIFM Building, Fairgrounds Office ParkGaborone, BotswanaPostal address:PO Box 403475Gaborone, BotswanaTelefax. +267 395 2362F. +267 395 2362/397 2982E. gaborone@cimaglobal.comwww.cimaglobal.com/botswana

CIMA ChinaUnit 1508AAZIA Center, 15th floor1233 Lujiazui Ring RoadPudongShanghai 200120P.R.ChinaT. +86 400 820 4080 +86 (0)21 5528 5119F. +86 (0)21 5228 5120E. infochina@cimaglobal.comwww.cimaglobal.com/chinawww.cncima.com

CIMA Hong KongSuites 1414 – 141514th Floor Jardine HouseCentral, Hong KongT. +852 2511 2003F. +852 2507 4701E. hongkong@cimaglobal.comwww.cimahongkong.com

CIMA IndiaUnit 1-A-1, 3rd FloorVibgyor Towers C-62, G Block,Bandra Kurla Complex,Bandra (East),Mumbai - 400 051T. +91 (0)22 4237 0100F. +91 (0)22 4237 0109E. india@cimaglobal.comwww.cimaglobal.com/india

CIMA Ireland45-47 Pembroke RoadBallsbridge, Dublin 4T. +353 (0)1 643 0400F. +353 (0)1 643 0401E. dublin@cimaglobal.comwww.cima.ie

CIMA MalaysiaLots 1.03b and 1.05, Level 1KPMG TOWER8 First Avenue, Bandar Utama47800 Petaling JayaSelangor Darul EhsanMalaysiaT. +60 (0)3 7723 0230F. +60 (0)3 7723 0231E. kualalumpur@cimaglobal.comwww.cimaglobal.com/malaysia

CIMA Middle EastOffice E01, 1st Foor, Block 3PO Box 502221Dubai Knowledge VillageAl Sofouh RoadDubai, UAET. +971 4434 7370F. +971 4434 1998E. middleeast@cimaglobal.comwww.cimaglobal.com/middleeast

CIMA PakistanNo. 201, 2nd floor Business ArcadePlot No. 27 A, Block 6, P.E.C.H.S.Shahra-e-FaisalKarachi, PakistanT. +92 21 3432 2387/88/89F. +92 21 3432 2390E. pakistan@cimaglobal.comwww.cimaglobal.com/pakistan

CIMA Singapore51 Goldhill Plaza, #08-02Singapore 308900T. +65 6535 6822F. +65 6534 3992E. singapore@cimaglobal.comwww.cimaglobal.com/singapore

CIMA South Africa1st Floor, 198 Oxford RoadIllovo, JohannesburgSouth AfricaPostal address:PO Box 745, Northlands 2116, South AfricaT. +27 (0)11 788 8723/0861 CIMA SAF. +27 (0)11 788 8724E. johannesburg@cimaglobal.comwww.cimaglobal.com/southafrica

CIMA Sri Lanka356 Elvitigala MawathaColombo 5Sri LankaT. +94 (0)11 250 3880F. +94 (0)11 250 3881E. colombo@cimaglobal.comwww.cimaglobal.com/srilanka

CIMA Zambia6053, Sibweni RoadNorthmead, LusakaZambiaPostal address:PO Box 30640, Lusaka, ZambiaT. +260 21 1 290 219/291 708F. +260 21 1 290 548E. lusaka@cimaglobal.comwww.cimaglobal.com/zambia

CIMA Zimbabwe6th Floor, Michael House62 Nelson Mandela Avenue,HarareZimbabwePostal address:PO Box 3831, Harare, ZimbabweTelefax. +263 (0) 4 708600/702617F. +263 (0) 4 708600/702617E. harare@cimaglobal.comwww.cimaglobal.com/zimbabwe

CIMA’s global offices may change during the year, so please visit the global web links for the most up-to-date contact details. For a full list of global contacts, please visitwww.cimaglobal.com/globalcontacts

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