The Certificate in International Cash Management (CertICM) syllabus was updated in June 2026.
If you are studying the previous CertICM syllabus, you may continue your studies and complete the qualification on your current syllabus. Please refer to the syllabus changes document for information on the changes introduced, the options available to you, and key deadlines.
If you have any questions, please contact the Education team at education@treasurers.org.
Develop your understanding of international cash management, its importance and the factors that influence how it is managed.
You will explore the tools, techniques, products and services used to support effective cash positioning, liquidity, payables, receivables and short-term borrowing and investing, alongside risk management, governance, compliance and emerging technologies shaping the future of international cash management.
Perfect if you:
- are a cash manager in a corporate who wants to demonstrate your expertise and dedication with a globally recognised qualification
- have recently moved into a cash management role (or would like to), either within corporate treasury or as part of a general finance remit
- want to expand your understanding of how cash management works at an international level
- are a banker, relationship manager or consultant who needs to understand international cash management from the perspective of the corporate in order to advise clients more effectively
Digital Credentials
On successful completion of the qualification, we’ll issue and send you a link to your digital credentials: a badge and an eCertificate. Digital credentials are a great way to showcase your achievement, and can be easily and safely displayed on your CV or website or shared online via LinkedIn, email signatures, social media, blogs and ePortfolios.
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LEARNING |
Five online units |
6-12 months study time |
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ASSESSMENTS |
One online exam |
2-hour exam |
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MEMBERSHIP |
You are a Student member of the ACT while you study and once qualified, you are eligible to become an Affiliate member. |
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The Certificate in International Cash Management is made up of the five units below. For full ACT accreditation you will need to complete all five units and sit the assessment.
- Unit 1: Treasury Strategy, Governance & Risk (ICM)
- Unit 2: Liquidity, Funding & Financial Decisions (ICM)
- Unit 3: Working Capital & Operational Cash Cycles (ICM)
- Unit 4: Global Cash, Liquidity & Risk Resilience (ICM)
- Unit 5: Treasury Systems, Architecture & Innovation (ICM)
At the end of this qualification you will be able to:
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Explain the factors that influence ICM decision-making and the role of governance
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Discuss how banks, non-bank providers and payment infrastructures facilitate ICM and help to deal with risks and improve resilience
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Analyse risk factors in ICM, including a range of controls, reporting, governance and ethical considerations
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Explain a range of performance methods and reporting practices to support ICM decision-making and drive improvements
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Discuss tools and techniques to identify, monitor and optimise cash and liquidity in different contexts, including undertaking relevant calculations
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Discuss the role of forecasting in ICM, different forecasting techniques and the impact of technology, including undertaking relevant calculations
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Evaluate different methods and techniques to improve cash availability and to optimise funding in different contexts, including undertaking relevant calculations
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Discuss techniques to support short-term funding and investment decisions and the impact of structures on such decisions in ICM, including undertaking relevant calculations
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Explain the accounting and tax considerations in ICM and the role of specialist advice, including undertaking relevant calculations
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Discuss DSO, DPO, CCC and the importance of managing receivables in ICM, including undertaking relevant calculations
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Discuss the main characteristics of payment systems, networks, infrastructure and tools and the considerations for corporates, including undertaking relevant calculations
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Explain different tools for managing international trade in ICM
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Discuss short-term funding and investment instruments and their linkages to the cash forecast, including undertaking relevant calculations
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Describe the characteristics, benefits and considerations of use of different pooling techniques and structures, including undertaking relevant calculations
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Discuss techniques to enhance the visibility and availability of cash, including the use of technology and different structures to support liquidity
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Explain the impact of pooling and intercompany lending on liquidity, control and financial performance, including undertaking relevant calculations
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Explain how treasury policies and internal controls influence liquidity and help to mitigate financial risk in ICM
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Discuss techniques for scenario planning and liquidity stress testing, including how these can contribute to resilience and contingency planning
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Evaluate core components of treasury systems
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Discuss how treasury systems are connected, deployed and secured
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Discuss the impact of emerging technologies on treasury and ICM
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Explain how automation drives operational efficiency in treasury and ICM
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Discuss the impact of regulation on treasury systems and controls, including the role of digital solutions in supporting compliance and delivering strategic benefits[
For a full description of the course content, download the syllabus.
Would you like a free sample of the study materials for the Certificate in International Cash Management so that you can try before you buy?
You can request for a sample to be emailed to you by filling in your details in the form below.
If you want to hear an example of our podcasts, click here to listen to a clip from one that explores the future of money.
The progressive learning structure of ACT qualifications means entry requirements apply.
Our qualifications pathway is designed to support you at every level of your career. There are, however, a number of ways for you to get recognition for what you have already learnt and achieved through your previous studies of either professional qualifications or at university. This may result in exemptions.
I have completed the Award in International Cash Management
You get automatic entry to the Certificate in International Cash Management if you have successfully completed the Award in International Cash Management.
You don’t have to provide evidence of any qualifying experience, because we will have a copy of your results already.
I have completed the Award in Cash Management Fundamentals
You get automatic entry to the Certificate in International Cash Management if you have successfully completed the Award in Cash Management Fundamentals.
You don’t have to provide evidence of any qualifying experience, because we will have a copy of your results already.
Prior work experience
If you have three years’ experience of working in a cash management role, then you may be exempt from the Award in International Cash Management (AwardICM) and eligible for direct entry onto the Certificate in International Cash Management (CertICM).
We recommend that you do take the AwardICM to get a full grounding in the cash management context, however you can begin your studies with the CertICM if you prefer to do so. When booking for the CertICM, you will need to complete and upload a work experience declaration form alongside a copy of your CV.
If you are unsure that your work experience is sufficient to begin with the CertICM, then take a look at the operational level of the ACT Competency Framework. If you recognise these competencies in your personal work, then the CertICM will be a suitable starting point for your studies.
If prior work experience exemption applies to you, the work experience declaration form will be available to download and complete on the booking form.
Qualified accountant
If you are CIMA, ICAEW or ICAS qualified, or from one of their reciprocal member bodies, you are exempt from the Award in International Cash Management.
You are eligible to fast track onto the Certificate in International Cash Management.
Take a look at the accountancy exemptions information to see which exemptions apply to you.
Other professional qualification
If you are a CFA Charter holder, then you are eligible for exemption from the Certificate in Treasury and can begin your studies with the Diploma in Treasury Management and/or the Certificate in International Cash Management.
You will need to provide a copy of your qualification certificate when booking.
If you hold the Certified Treasury Professional (CTP) qualification you get automatic entry to the Certificate in Treasury and the Certificate in International Cash Management. You will need to provide a copy of your qualification certificate when booking.
None of the above applies to me
You will first need to successfully complete the Award in International Cash Management in order to become eligible to move onto the Certificate in International Cash Management.
You will have an interactive and engaging experience using our study site.
This qualification is delivered online through the ACT study site and you can start your studies at any time.
Our assessments are on demand, so you will be able to book your exam at a time convenient to you when you feel ready.
We estimate you should be able to complete the course in six to twelve months alongside full-time work.
You will receive a variety of learning materials and support, which includes:
If you would like some additional support to help you get assessment ready, you can book 1-2-1 coaching in addition to your online learning package.
The assessment is available on demand. You can take your assessment from anywhere in the world, wherever you have a reliable internet connection.
The assessment is one online exam. Certificate in International Cash Management assessments are now on demand, which means that you can book your assessment whenever you feel ready to take it. Assessments must be booked at least five days before you want to sit them. Our on-demand assessment windows will close periodically over the course of the year, so please check these on our key dates webpage
| LENGTH | FORMAT | NOMINAL PASS MARK |
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120-minute exam |
60 Multiple-choice questions and 4 long form questions |
50% |
You can view all the dates and detailed assessment information here:
Book your assessment from the link below.
When booking onto the Certificate in International Cash Management you will need to become a student member of the ACT.
As a student member, you will become part of the global treasury community, giving you access to many great benefits, including:
- booking your assessment and student support
- mentoring and career development resources
- subscription to The Treasurer magazine
- exclusive member-only networking events
- policy and technical updates.
Remember to take advantage of these benefits - they are an opportunity to broaden your knowledge and network. When you have successfully completed the certificate, you will be eligible to become an Affiliate Member and use the designatory letters CertICM. These are the internationally recognised letters that go after your name that recruiters and employers look out for, because they show you are a very credible candidate. You can find out more about ACT membership here.
Certificate in International Cash Management learning materials, membership and assessment fees:
When you start studying, you buy your online learning materials and student membership at the same time.
If you buy the AwardICM and Certificate in International Cash Management at the same time, you will pay a discounted fee.
Your assessment can be booked at a later date, when you feel prepared and ready to sit the exam.
| Online learning material for AwardICM and CertICM package | GBP 3,050 |
| Online learning material for CertICM only | GBP 2,400 |
| Online assessment | GBP 240 |
| Student membership CertICM | GBP 250 |
| Student membership AwardICM/CertICM package | GBP 340 |
Fees are subject to local VAT rate where applicable.
Ready to buy?
First, log in to your ACT Learning account. If you do not have one, you will be prompted to create one. Have your credit/debit card details to hand; you will be required to make an online payment through Stripe. We accept AMEX, Mastercard and Visa card payments. Upon submission, you will receive an automated summary email. A student membership fee is payable on booking.
Your booking will be processed within three working days.
You will be sent a booking confirmation with information on how to start your studies and at this time you will become a Student member of the ACT.
We can also deliver cash management learning to companies with teams that are interested in taking either the full qualification or selected units, and tailor it to your business needs. Find out more about in-company solutions here.