- Bibhuti Bhusan Nayak has been elected unanimously as the new President of the Institute of Cost Accountants of India (ICMAI) for the 2024-25 period.He will succeed Ashwin Dalwadi, who was the president for the 2023-24 period.
- The election to elect the new president and vice president of the Institute of Cost Accountants of India for 2024-25 was held on 22 July 2024 in New Delhi.
- TCA Srinivasa Prasad has been elected as the vice president of the Institute of Cost Accountants of India for 2024-25
Institute of Cost Accountants of India (ICMAI)
- The Institute of Cost Accountants of India was set up as a statutory body on 28 May 1959 under the provisions of the Cost and Works Accountants Act, 1959.
- A statutory body is an institution set up under the provision of a law made by the Parliament or by a competent state legislature.
- The Institute of Cost Accountants of India comes under the Union Ministry of Corporate Affairs.
- The Institute of Cost Accountants of India is the regulator of Cost and Accounting Management in India.
- The Institute of Cost Accountants of India is the second-largest Cost and Management Accounting body in the world and the largest in Asia.
- The headquarters of the Institute of Cost Accountants of India is in Kolkata, West Bengal.
- The Institute of Cost Accountants of India has four Regional Councils in Kolkata, Delhi, Mumbai and Chennai, 113 Chapters in India and 10 overseas Centers.
- The Institute is a founding member of the International Federation of Accountants (IFAC), the Confederation of Asian & Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA).