The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by Parliament’s Act, Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) to govern the country’s Chartered Accountancy practice.
In compliance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988, the affairs of the ICAI are governed by a Board.
Over a period of time, not only in the country but also worldwide, the ICAI has gained recognition as a leading accounting body for upholding the highest standards in scientific, ethical fields and maintaining strict standards of inspection and education. The career has risen leaps and bounds in terms of participants and student base since 1949.
– Regulating the accountancy profession.
– Chartered Accountancy Course Education and Review.
– Continuing members’ technical education.
– Conducting Courses of Post-Graduation.
– Formulation of Criteria for Accounting.
– Standard Auditing Practices Prescription.
– Laying Ethical Norms down.
COMMITTEES of ICAI:
Following are the committees of ICAI
- Board of Discipline (u/s 21A)
- Disciplinary Committee (u/s 21 B)
After clearing both groups of CA Final as well as completed articles and GMCS Trainings, a person is required to apply for the allocation of CA Membership No. in Form 2 to ICAI.
* Download recommended: Form 2 for applying for CA Membership No.
Certified True Copy of the following documents and Form 2 must be used when applying for the ICAI Membership Number:-
- Qualifications of Education.
- CA Final Exams‘ Mark sheets.
- Articleship Completion Certificate for Preparation.
- Certification of GMCS Participation.
- Higher Certificate of High School as proof of date of birth (If not submitted earlier).
The candidate’s name should be the same as that seen on the application form in the Degree Certificate/Higher Secondary School Qualification. In the event of a change of name, the applicant shall complete all formalities by presenting photographic evidence, such as the marriage invitation card or the Gazetted Notice, etc.
The following fee shall be payable in favor of ‘The Secretary, Institute of Chartered Accountants of India’ at the time of submission of the application for CA Membership Number in Form 2:-
Associate Membership Fee INR. 1,500.
Fellow Membership Fees INR. 3,000.
Certificate of Practice
– As an Associate Member INR 2,000.
– As Fellow Member INR. 3,000.
Disqualifications from applying for CA Membership No.
At the time of making an application in Form 2 for allotment of CA Membership No., a person should not have any of the following disabilities:-
- Failed to reach 21 years of age.
- Unsound Mind and is thus adjudicated by a Competent Court.
- Insolvent Undischarged.
Having been discharged as insolvent, he received a certificate from the court that his insolvency was caused by misfortune without any wrongdoing on his part.