What is the full form of ICAI ?
ICAI full form is Institute of Chartered Accountants of India
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No.XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. ICAI is the nationwide professional accounting body of India.
ICAI is the 2nd largest professional Accounting & Finance body in the world.
Over a period of time the ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for maintaining the highest standards in technical, ethical areas and for sustaining stringent examination and education standards.
Below are the main activities of the ICAI:
• Regulate the profession of Accountancy
• Education and Examination of Chartered Accountancy Course
• Continuing Professional Education of Members
• Conducting Post Qualification Courses
• Formulation of Accounting Standards
• Prescription of Standard Auditing Procedures
• Laying down Ethical Standards
• Monitoring Quality through Peer Review
• Ensuring Standards of performance of Members
• Exercise Disciplinary Jurisdiction
• Financial Reporting Review
• Input on Policy matters to Government