THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

THE 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. ICAI now is the second largest accounting body in the whole world. The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The ICAI’s five coloured logo has a twelve petaled lotus, in which dark blue square cushion forms the backdrop for an eagle sitting on a green pedestal supported by a white garland bordered in red. The eagle symbolises superiority and focus. It is also said that it is bald eagle ‘Garuda’ with an Upanishad quotation was actually conceptualised by Sri Aurobindo. The motto in Sanskrit ‘Ya esa suptesu jagarti’ meaning ‘that person who is awake in those that sleep’ is written in the garland in red colour. This is sourced from ‘Kathopanishad’.