ICAI, ICWAI and ICSI Full Form
Table of Contents
What is the full form of ICAI, ICWA/ICWAI & ICSI?
The full form of ICAI, ICWA or ICWAI and ICSI is Institute of Cost Accountants of India (ICAI), Institute of Cost & Works Accountants of India (ICWAI) and Institute of Company Secretaries of India (ICSI).
ICAI Full Form
The Institute of Cost Accountants of India (ICAI) [earlier known as ICWAI] is India’s premier accounting body engaged in carrying forward, controlling and developing the business of cost accounting. It prescribes the qualifications for a Chartered Accountant (CA), conducts the requisite examinations and grants Certificate of Practice. ICAI is solely responsible for establishing auditing and assurance standards for statutory cost audit in India to be followed in the Cost Statement. It also issues other technical guidelines on many aspects like internal management, management accounting etc.
Roles of 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
ICSI Full Form
The Institute of Company Secretaries of India (ICSI) is a statutory professional body in India whose objective is to promote, regulate and develop the profession of Company Secretaries in India. It is headquartered in New Delhi, has four regional offices in New Delhi, Chennai, Kolkata and Mumbai. A person is eligible to apply for membership by passing all the three levels of examinations prescribed by ICSI and completing the period of practical training. ICSI has been playing a key role in the growth and development of the Indian Corporate Sector by producing a cadre of highly qualified Company Secretaries (CS) as corporate managerial professionals.