The Institute of Chartered Accountants of India (ICAI is a statutory body set up under
the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the
profession of Chartered Accountants in India. During its 64 years of existence, ICAI has
achieved recognition as a premier accounting body not only in the country but also globally,
for its contribution in the fields of education, professional development, maintenance of high
accounting, auditing and ethical standards. ICAI now is the second largest accounting body in
the whole world.