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BFSI Chronicle, 11 Edition September2022
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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 in source of resources and
the socio-economic context through professionals for the fi nancial
competencies drawn from the leadership of enterprise globally.”
integration of strategy, management
and accounting.”

About The Institute
The Institute of Cost Accountants of India is a Accountants of India" from "The Institute of Cost
statutory body set up under Act of Parliament in the and Works Accountants of India". This step is aimed
year 1959. The Institute as a part of its obligations, towards synergising with the global management
regulates the profession of Cost and Management accounting bodies, sharing the best practices which
Accountancy, enrolls students for its courses, will be useful to large number of trans-national Indian
provides coaching facilities to the students, oragnises companies operating from India and abroad to remain
professional development programmes for the members competitive. With the current emphasis on management
and undertakes research programmes in the fi eld of of resources, the specialized knowledge of evaluating
Cost and Management Accountancy. The Institute operating efficiency and strategic management the
pursues the vision of Cost Competitiveness, Cost professionals are known as "Cost and Management
Management, Efficient use of Resources and Structured Accountants (CMAs)". The Institute is the 2nd largest

Approach to Cost Accounting as the key drivers of Cost & Management Accounting body in the world
the profession. In today's world, the profession of and the largest in Asia , having approximately 5,00,000
conventional accounting and auditing has taken a students and 85,000 members all over the globe. The
back seat and Cost and Management Accountants are Institution headquartered at Kolkata and an offi ce
increasingly contributing towards the management in Delhi operates through four Regional Councils at
of scarce resources apply strategic decisions. This has Kolkata, Delhi, Mumbai and Chennai and 114 Chapters
opened up further scope and tremendous opportunities situated at important cities in the country as well as 11
for cost accountants in India and abroad. overseas Centres. It is under the administrative control
After an amendment passed by Parliament of India, of Ministry of Corporate Affairs, Government of India.
the Institute is now renamed as "The Institute of Cost

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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