Page 2 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) 23062 COPY.indd

BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
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Mission Statement Vision Statement

"The CMA professionals would "The Institute of Cost Accountants
ethically drive enterprise globally of India would be the preferred
by creating value to stakeholders source of resources and
in the socio-economic context professionals for the financial
through competencies drawn leadership of enterprise globally."
from the integration of strategy,
management and accounting."

About The Institute
The Institute of Cost Accountants of India is a Cost Accountants of India" from "The Institute
statutory body set up under Act of Parliament of Cost and Works Accountants of India". This
in the year 1959. The Institute as a part of its step is aimed towards synergising with the global
obligations, regulates the profession of Cost and management accounting bodies, sharing the best
Management Accountancy, enrolls students for its practices which will be useful to large number
courses, provides coaching facilities to the students, of trans-national Indian companies operating
oragnises professional development programmes from India and abroad to remain competitive.
for the members and undertakes research With the current emphasis on management of
programmes in the fi eld of Cost and Management resources, the specialized knowledge of evaluating
Accountancy. The Institute pursues the vision of operating efficiency and strategic management the

Cost Competitiveness, Cost Management, Effi cient professionals are known as "Cost and Management
use of Resources and Structured Approach to Cost Accountants (CMAs)". The Institute is the 2nd
Accounting as the key drivers of the profession. largest Cost & Management Accounting body in the
In today's world, the profession of conventional world and the largest in Asia , having approximately
accounting and auditing has taken a back seat and 5,00,000 students and 85,000 members all over the
cost and management accountants are increasingly globe. The Institution headquartered at Kolkata and
contributing towards the management of scarce an office in Delhi operates through four Regional

resources apply strategic decisions. This has opened Councils at Kolkata, Delhi, Mumbai and Chennai
up further scope and tremendous opportunities for and 113 Chapters situated at important cities in the
cost accountants in India and abroad. country as well as 11 overseas Centres. It is under
After an amendment passed by Parliament of India, the administrative control of Ministry of Corporate
the Institute is now renamed as "The Institute of Affairs, Government of India.

Disclaimer:

This publication does not constitute professional advice. The information in this publication has been obtained
or derived from sources believed by The Institute of Cost Accountants of India (ICAI) to be reliable. Any
opinions or estimates contained in this publication represent the judgment of ICAI at this time. Readers of this
publication are advised to seek, their own professional advice before taking any course of action or decision,
for which they are entirely responsible, based on the contents of this publication. ICAI neither accepts nor
assumes any responsibility or liability to any reader of this publication including third party products in respect
of the information contained within it or for any decisions readers may take or decide not to or fail to take.
@2022 The Institute of Cost Accountants of India. All Rights reserved. The Institute Of Cost Accountants Of India

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