Sunday, September 27, 2015

Institute of Chartered Accountants of India

The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament viz., The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. The Institute, which functions under the administrative control of the Ministry of Corporate Affairs, Government of India, has five Regional Councils and 150 branches covering the length and breadth of the country. In addition, it has also set up chapters outside India. It also has an office in Dubai.

Founded 66 years ago with just 1,700 members, the Institute has grown to cross the mark of 2,44,000 members and about 8.79 lakh active students as of now. A significant majority of our me999bership is in practice, with a good deal of specialisation in traditional areas of direct/indirect taxes and in emerging areas, inter-alia, in financial services, information technology, insurance sector, joint ventures, mutual funds, exchange risk management, risk and assurance service, environment/energy/quality audits, investment counselling, corporate structuring and foreign collaborations. Those in employment occupy senior positions such as CMDs in Banks/Financial Institutions, CEOs in leading and reputed public and private sector companies, etc.

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