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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 more than five 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.
The
affairs of the ICAI are managed by its Council. The Council consists of 32
elected members and 8 members nominated by the Central Government. The
headquarters of ICAI is at New Delhi with 5 Regional Offices at Mumbai, Chennai,
Kolkata, Kanpur, New Delhi and 118 branches spread across the country. The ICAI
has set up 20 chapters outside India and an overseas office at Dubai.
ICAI is
the national accounting standards setting body in India. The Accounting
Standards set up by ICAI is being recognized under various statutes. In addition
to this, ICAI also issues various guidance notes etc. from time to time for the
guidance of its members. ICAI also imparts education to the students of
Chartered Accountancy through its distance education mode and also conducts the
examination for these students.
ICAI is
also the founder member of various International bodies such as the
International Federation of Accountants (IFAC), Confederation of Asian and
Pacific Accountants (CAPA), South Asian Federation of Accountants (SAFA). |
