ICAI ( Institute of Chartered Accountants of India )

The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its nearly six decades 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.

Was set up in 1949 under the Chartered Accountants Act, 1949 even before adoption of Constitution of India in 1950. Since then Profession has grown leaps and bounds in terms of Membership and Student base.

Roles of ICAI

To regulate the profession of Accountancy
Education & Examination of Chartered Accountancy
Exercise Disciplinary Jurisdiction
Input on Policy matters to Government
Ensuring Standards of performance of Members
Formulation of Accounting Standards
Prescription of Engagement and Quality Control Standards
Laying Dow Ethical Standards
Continuing Professional Education
Financial Report Review
Monitoring Quality through Peer Review
Conducting Post Qualification Courses