THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
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 ‘Tamaso Maa Jyothirgamaya’ meaning ‘From Darkness to Light’ is written.