Changes to the Award in Cash Management Fundamentals (AwardCMF) and the Certificate in International Cash Management (CertICM) 

Why we changed the qualifications

The ACT is committed to upholding the professional standards of treasurers and cash managers, and those with cash management responsibilities, to help them be more effective in their jobs. It is essential that we ensure our qualifications remain relevant and reflect the needs of the profession. Changes to qualifications are a natural part of our ongoing education program and the ACT’s commitment to be the standard bearer for treasury. As part of this evaluation, we reviewed and updated the Award in Cash Management Fundamentals, now called the Award in International Cash Management, and the Certificate in International Cash Management.

As the previous CertICM was made up of two qualifications, the Award in Cash Management Fundamentals (AwardCMF) and the CertICM, the new update is a distinct standalone qualification. We launched the new Award in International Cash Management (AwardICM)  in September 2020 and the newly updated CertICM in January 2021. This qualification and its syllabus have been reviewed and revised against the ACT Competency Framework. This ensures we continue to have the most up to date and relevant qualifications for real-world treasury and cash management practice. The content is being updated, made more relevant and the delivery and assessment structure is changing.  


What this means for you now

As previously notified to all students, the last opportunity to take an assessment for AwardCMF and the old CertICM was in April 2021. If you haven't completed, you were given until the 30 June 2021 to transfer.


Student membership

Your student membership may become expired after you have transferred to the new course.  Your Programme Manager will email you before the expiry date to inform you of how to make a payment to renew your student membership.

Once you have renewed your AwardICM or CertICM Student membership, it will be valid until your learning licence expires or until you pass the course, whichever is soonest.

Student membership includes discounts on our events and training programme, free to member events, online CPD tools, The Treasurer Magazine and career support services, such as our mentoring scheme. 

How and when to transfer

When transferring, you will need to pay a transfer fee which covers the additional learning support you will receive (a number of recorded webinars, one 1-2-1 coaching session and one live online revision webinar). If you need to transfer to the Award and the Certificate, you will receive this for both courses.


The deadline to transfer has passed.

Currently studying AwardCMF as a stand-alone qualification and not doing CertICM

You need to transfer to AwardICM.

Transfer fee

£ 200 (does not include assessment fee)

Deadline to transfer 

30 June 2021



Currently studying CertICM and already passed the Stage one (AwardCMF) assessment

You need to transfer to the new CertICM. 

Transfer fee

£ 300 (does not include assessment fee)

Deadline to transfer 

30 June 2021



Currently studying CertICM and haven’t completed Stage one (AwardCMF) assessment or Stage two (CertICM)assessment

You need to transfer first to the AwardICM and once completed, you transfer to the new CertICM. You will need to pay a fee to transfer to the AwardICM, and then when you have completed, transfer to CertICM, and pay a further fee as detailed below.  

Transfer AwardICM fee  

£ 200 (does not include assessment fee)

Transfer CertICM fee £ 200 (does not include assessment fee)

Deadline to transfer*

30 June 2021


*The deadline applies to you transferring to AwardICM only. 




Take a look at the Frequently Asked Questions.  

AwardCMF students

CertICM students

If you have any questions, please email us at Alternatively, if you would like to talk to a Programme Manager, please let us know and we would be happy to schedule a call with you.