Institute of Chartered Accountants of India

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up in 1949 under an Act of Parliament to regulate the Profession of Chartered Accountants in India. ICAI continues its steadfast march to uphold the virtues of accountability, integrity and transparency in every sphere of country's economic system. With over 3 lakh members and more than 7 lakh students, ICAI ranks amongst the largest accounting bodies in the 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 India, Ministry of Corporate Affairs, Ministry of Finance, Securities and Exchange Board of India and other stakeholders.