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THE INSTITUTE OF COST ACCOUNTANTS OF INDIA

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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. ICAI is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost and Management Accountancy. Its logo has a portrait oval within itmis a traditional Indian lamp glowing. Its name is written on the border. At the bottom in the garland its motto in Sanskrit Sanskrit sloka ‘तमसो मा ज्योतिर्गमय’ (Yajnavalkya, 1.3.28, Pavamana Mantra, Brihadaranyaka Upanishad) meaning ‘From Darkness Lead me to Light’ build a sense of conviction that knowledge has the power to drag us out of i...

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

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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 ...