The Institute of Chartered Accountants of India (ICAI) is a statutory Body, established on 1st July, 1949 by an Act of Parliament viz. The Chartered Accountants Act, 1949 as amended by The Chartered Accountants (Amended) Act, 2006 for regulating the profession of Chartered Accountancy in India. The ICAI functions under the administrative control of the Ministry of Corporate Affairs, Government of India. At present, the ICAI has 5 Regional Councils, 126 Branches Covering the length and breadth of the country and 22 chapters abroad. At the time of inception there were only 1,700 members, now the ICAI has grown to cross the mark of 1,67,000 members (Chartered Accountants) and more than 7,26,000 students who are pursuing the CA course from the ICAI. ICAI is the premier Accounting Body in the country and the second largest Accounting Body in the world.
The ICAI has five Regional Councils :
Western India Regional Council (WIRC),
Southern India Regional Council (SIRC),
Eastern India Regional Council (EIRC),
Central India Regional Council (CIRC),
Northern India Regional Council (NIRC).