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Leading edge companies know they must take additional steps to further company goals and somehow manage the rapid changes in a business environment. These industry leaders want to ensure client confidence and to set themselves apart from the rest of the competition.
The future dictates that many of the issues contributing to the anticipated changes in the business environment have already surfaced as ethical leadership challenges. It becomes a vital force in creating public, employee and client confidence in our industry. In essence, the community management industry becomes a model of positive business leadership.
Taking the steps to become a Certified Management Firm, CMF send a strong message to your association clients. Your management firm is committed to ethical standards while utilizing necessary checks and balances, current risk management practices, and implementing strong financial controls in managing the clients’ interests.
What is the Certified Management Firm© (CMF) Program?
The only industry specific plan of its type in the industry, the CMF© Program was established to ensure standards of practice and professionalism for firms managing California community associations.
Certification of your management firm sends a strong message to the consumer that you and your employees adhere to the highest state-specific industry standards. The Internal Audit Review, a key component of the program, requires that an independent CPA audit your firm to verify that AICPA and CIRA standards for risk management practices and internal financial controls are being met.
The benefits of certifying your firm in this manner are threefold:
- Firm certification displays a positive image to the consumer, demonstrating your company's concern for stringent internal financial checks and balances.
- Certification identifies your firm as a company willing to join the ranks of other California management firms promoting professional conduct and ethical standards of practice.
- Certification provides for continued personal and professional growth within the industry.
How does an Organization achieve the CMF© designation?
- Join the Management Firm Council (MFC) and CACM will send you a CMF© Application and Package
- Complete the Internal Review Audit
- Complete the CMF© Application and comply with the CMF© criteria
- Send in the application, checking to make sure that all necessary items are attached to the application. Items not included could cause a delay in the processing of a CMF© application.
The CMF© designation review process guarantees a written status within two weeks of submission of a complete application and package.
