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THE INSTITUTE OF COST ACCOUNTANTS OF INDIA The profession of cost  and works accountant was established by a special act of Parliament of India, namely, the Cost and Works Accountant Act, 1959. With the passing of the act, The Institute of Cost and works Accountants of India (ICAI) was established in 1944 and was registered as a company under the Companies Act with the objectives of promoting, regulating and developing the profession of cost accountancy. It has since been continuously contributing to the growth of the industrial and economic climate of the country. ICAI is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost and Management Accountancy. ICAI has its head office at 12, Sudder Street, Kolkata 700 016 and operates through four regional councils in Kolkata, Chennai, Delhi and Mumbai as well as through a number of important chapters situated elsewhere in India and abroad. Its logo has a portrait oval within it i

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. During its 61 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. 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 Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of Ind