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Abbreviation | ICMAI |
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Formation | 28 May 1959 |
Legal status | Established under the Cost and Works Accountants Act, 1959 Statutory body enacted by the Parliament of India |
Headquarters | CMA Bhawan, 12 Sudder Street, Kolkata – 700016, India. ( till 2024-25 ) CMA Bhawan 3, Institutional Area Lodhi Road, New Delhi - 110003, India (since 2025-26) |
Coordinates | 22°33′29″N88°21′13″E / 22.558103°N 88.353672°E |
Region | India |
Members | 100,000 |
President | CMA TCA Srinivasa Prasad |
Vice President | CMA Neeraj D. Joshi |
Secretary | CMA Kaushik Banerjee |
Parent organization | Ministry of Corporate Affairs, Government of India |
Students | 750,000 (Approx) |
Website | www |
Formerly called | The Institute of Cost & Works Accountants of India |
The Institute of Cost Accountants of India (ICMAI), which was previously known as the Institute of Cost & Works Accountants of India (ICWAI), is a professional accountancy body under the Ministry of Corporate Affairs, Government of India. It has as its prime responsibility, as assigned by the Ministry, to promote and develop the cost and management accounting profession at the global level.
The Institute of Cost Accountants of India was first formed as a registered limited company on 14 June 1944 under the provisions of the Companies Act of 1913. Post Independence, the Institute received statutory recognition when the Parliament of India enacted "The Cost and Works Accountants Act, 1959" (Act No.23rd of 1959), [1] a special act, on 28 May 1959 to accord statutory recognition to ICWAI (now ICMAI) as an autonomous professional Institute.
The CWA Amendment bill of 2011 was passed by both Houses of the Indian Parliament, Lok Sabha and the Rajya Sabha, on 12 December 2011 and assented by the president of India on 12 January 2012. The changes were published in the Official Gazette of India on 13 January 2012. [2] As of 2023, there are a total of 98,500 active members of ICMAI. [3]
The ICMAI is a Founding Member of the International Federation of Accountants (IFAC), [4] Confederation of Asian and Pacific Accountants (CAPA) [5] and South Asian Federation of Accountants (SAFA) [6] and Associate member of ASEAN Federation of Accountants. [7] ICMAI is also a member of the National Foundation of Corporate Governance (NFCG). [8]
This is the primary qualification of the ICMAI following completion of up to three levels (Foundation, Intermediate, and Final) examinations [9] and three years of practical training [10] in areas like Management Accounting, Cost Accounting, Financial Accounting, Taxation, Cost audits, GST audits, Internal audit, Corporate laws, etc. and enables an individual to become a CMA (Cost & Management Accountant).
Name | Position | Organization |
---|---|---|
Subhash Chandra Garg | Former Finance Secretary | Government of India |
Chanda Kochhar | Former CEO | ICICI Bank |
J Ramachandran | Professor | IIMB |
Mrityunjay Athreya | Padma Bhushan, Management Advisor | |
P. K. Mukherjee | Executive Director | Sesa Sterlite Limited |
Kailasam Raghavendra Rao | Padma Shri, Entrepreneur | Orchid Chemicals & Pharmaceuticals Limited |
B. B. Chakrabarti | Professor, Ex-Director | Indian Institute of Management Ranchi |
Professor | Indian Institute of Management Calcutta Indian Institute of Management Sirmaur | |
G. J. R. Krishnan | Musician | |
T. V. Somanathan | Finance Secretary | Government of India |
Sadanand Date (IPS) | Director General | National Investigation Agency |