The Institute of Chartered Accountants of India (ICAI) is a statutory body established on 1st July 1949 by The Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountancy in the Country. The Institute functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in public interest. The affairs of the ICAI are managed by a Council consisting of 40 members of whom 32 members are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance, and other stakeholders.
ICAI’s sagacious journey of more than 71 years has seen it expand nationally and globally establishing 164 branches in India, 39 Chapters overseas and 17 representative offices spread into 42 Countries. During more than seven decades of its existence, ICAI has always been proactively supporting all endeavors of the Government as a part of its role in aiding towards better governance.
The membership of the ICAI has crossed 3,20,000 with about 7,50,000 students pursuing their career in Accountancy through the Institute.
As a Regulator of the profession of Accountancy in the country, the ICAI has achieved global recognition for maintaining highest standards in technical, ethical areas and for sustaining stringent education and examination standards.