About the Institute of Cost Accountants of India (ICMAI)

The Institute of Cost Accountants of India (ICMAI) (erstwhile The Institute of Cost and Works Accountants of India) was first registered as “Indian Institute of Cost and Works Accountants” on the 14th June, 1944 under the Indian Companies Act, 1913. On 28th May, 1959, the Institute was established by a special Act of Parliament, namely, the Cost Accountants Act, 1959 as a statutory professional body for the regulation and development of the profession of Cost and Management accountancy. The Institute is under the administrative control of the Ministry of Corporate Affairs, Government of India.

The Institute is headquartered in Kolkata having four Regional Councils at Kolkata, Delhi, Mumbai and Chennai, 116 Chapters in India and 11 Overseas Centres. The Institute is the largest Cost & Management Accounting body in the world with about 1,00,000 qualified CMAs and over 5,00,000 students pursuing the CMA Course. The Institute is a founder member of International Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA).

ICMAI functions through the Council which in turns functions through different committees/boards for carrying out various functions under the Cost Accountants Act, 1959 and the rules framed thereunder. The Council of the Institute consists of 15 elected council members and 5 council members nominated by the Government of India.

Vision Statement

"The Institute of Cost Accountants of India would be the preferred source of resources and professionals for the financial leadership of enterprises globally."

Mission Statement

"The Cost and Management Accountant professionals would ethically drive enterprises globally by creating value to stakeholders in the socio-economic context through competencies drawn from the integration of strategy, management and accounting."