ICAI (Institute of Chartered Accountants of India)
The statutory body that regulates the Chartered Accountancy profession in India, including exams, membership, and professional conduct standards.
ICAI is the statutory body, established under the Chartered Accountants Act, 1949, responsible for regulating the CA profession in India: setting the exam syllabus and structure across Foundation, Intermediate, and Final levels, granting membership to qualified professionals, prescribing articleship and training requirements, and enforcing a code of professional conduct through its disciplinary mechanisms.
Membership with ICAI is what legally allows someone to practice as a chartered accountant in India, sign audit reports, and use the 'CA' designation. It also issues ongoing continuing professional education requirements for members to keep their knowledge current after qualifying.
This glossary entry is for general informational purposes only and does not constitute professional tax, legal, or financial advice. Rules and rates change, so consult a qualified Chartered Accountant for advice specific to your situation.