Institute of Cost Accountants of India

It has as its prime responsibility (by the Ministry of Corporate Affairs) to contribute to the cost and management accounting profession at the global level.

Post Independence, the Institute got 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 ICMAI (previously ICWAI) as an autonomous professional Institute.

The CWA Amendment bill of 2011 was passed by both the Houses of Indian Parliament.

[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.