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About Us

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. Founded inl949 with just 1700 Members, the Institute has grown to cross the markof 226015 Members. About 800000 active Students are registered and out ofwhich more than 285618 are female students. The ICAI is managed by a Council consisting of 40 Members out of whom 32 Members are elected by CharteredAccountants and 8 Members are nominated by the Central Government.

Increasing responsibilities are being placed by the Government and the Soeiety on the Members of the profession and their specialized knowledge and skills are being utilized in various fields of activities. Statutory recognition is given to the role of the Members of the profession and their audiVcertificatioir is insisted upon for various purposes in different statutes.

The Institute is playing a prominent role in the Intemational Accounting bodies by vinue of its Membership and active involvement in the activities of Intemational Federation of Accountants (IFAC), Intemational Accounting Standards Board (IASB), Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAIA).

The chronological events leading to the passing of the Chartered Accountants Act by the Parliament in July 1949, at a time when even the country was yet to become a Republic, are stated below, which exemplifies the significance and priority the Government attaches to the profession of Chartered Accountancy.