What is the Full form of ICWAI?
The ICWAI full form is Institute of Cost and Works Accountants of India. ICWAI is also known as the ICAI (Institutes of Cost Accountants of India) and ICMAI. The institute is a licensed, professional body that regulates the Indian cost & accountancy management profession.
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ICWAI’s major mission is to regulate, promote, support, and enhance the management accountancy and cost professions in India by establishing guidelines through training and practice in cost and management accountancy.
A quick overview of ICWAI
- The Institute of Cost Accountants of India (ICAI) was founded in 1944 as a limited liability company under the company law of 1913, with the initial purpose of promoting, managing, and enhancing the area of cost accounting.
- The CWA Amendment Act 2011 was approved by both the Lok Sabha and the Rajya Sabha on December 12, 2011. The Honorable President of India signed it into law on January 12, 2012. The revisions were published in the Legal Gazette of India on January 13, 2012.
