Google trend - ICAI

ICAI - 10 things to know with detail

• ICAI stands for the Institute of Chartered Accountants of India, which is the national professional accounting body in India.
• ICAI was established in 1949 under the Chartered Accountants Act, 1949 to regulate the profession of Chartered Accountancy in India.
• The main objectives of ICAI are to regulate the accounting profession, conduct examinations for aspiring Chartered Accountants, and promote ethical and professional standards in the accounting profession.
• ICAI has over 300,000 members and is the second largest accounting body in the world, after the American Institute of Certified Public Accountants (AICPA).
• The Institute conducts the Chartered Accountancy (CA) course, which is one of the most prestigious professional courses in India. The course consists of three levels - Foundation, Intermediate, and Final.
• ICAI also offers various post-qualification courses for its members, such as the Certificate Course on Forensic Accounting and Fraud Detection, Certificate Course on Concurrent Audit of Banks, and Certificate Course on Ind AS.
• The Institute is governed by a Council, which is elected by its members. The President of ICAI is the head of the Council and represents the Institute at various forums.
• ICAI has set up various committees to assist in its functioning, such as the Accounting Standards Board, Auditing and Assurance Standards Board, and Ethical Standards Board.
• The Institute has entered into mutual recognition agreements with several international accounting bodies, such as the Institute of Chartered Accountants in England and Wales (ICAEW) and the Chartered Accountants Australia and New Zealand (CA ANZ).
• ICAI is actively involved in promoting research and development in the field of accounting and finance through its research wing, the ICAI Accounting Research Foundation (ICAI ARF).