ICAI Full Form
The ICAI full form is Institute of Chartered Accountants of India. Institute of Chartered Accountants of India (ICAI) is a statutory frame established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for regulating the career of Chartered Accountancy withinside the Indian country. The Institute features under the administrative control of the Ministry of Corporate Affairs, Government of India.
The ICAI is the second biggest professional frame of Chartered Accountants in the world, with a strong way of life of provider to the Indian economy in the public interest.
The affairs of the ICAI are controlled via way of means of a Council according to the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council constitutes of 40 individuals of whom 32 are elected by the Chartered Accountants and the ultimate eight are nominated by the Central Government commonly representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance and different stakeholders.
Over a period of time, the ICAI has finished recognition as a top-quality accounting frame not only in India but also around the world, for retaining maximum standards in technical, ethical regions and for sustaining stringent exam and education systems. Since 1949, the profession has grown leaps and boundaries in terms of individuals and candidates base.
ICAI Abbreviation:
| Full Form | Category | Term |
|---|---|---|
| The Institute of Chartered Accountants of India | Indian Ministry of Corporate Affairs | ICAI |
| Institute of Chartered Accountants of India | Banking | ICAI |
| Institute of Chartered Accountants In Ireland | Accounts and Finance | IC |