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Trouble seems to be brewing between the apex accounting body of chartered accountants, the Indian Chartered Accountants Institute (ICAI) and the Institute of Costs and Works accountants of India (ICWAI). The ICAI has declared an open war against the proposal of name change of ICWAI to Institute of Costs and Management Accountants of India (ICMAI).

In a meeting called by the Parliamentary Standing Committee on finance recently, the ICAI opposed the ICWAI’s move to change the name on the grounds that the name change would create confusion among the industry people and common man.

Further, ICAI has raised the issue in its August journal as well. It says: “It is pertinent to mention that the Cost and Works Accountants (Amendment) Bill, 2010, contained a proposal regarding change of its name from the ICWAI to the ICMAI. We have expressed our concerns over the proposal for change of name of ICWAI to ICMAI. We are following up on the matter”.

Indian Express

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108 Comments

  1. CMA D Mukherjee says:

    Honourable Minister of Corporate Affairs, declared name
    Change of the institute of cost accountant of India to the institute of cost and management accountants of India in National cost convention 2018.

  2. Nitish dwivedi says:

    Stop insulting each other guys finally at national cost convention 2018 our honorable minister p.p chaudhary announce name chance of cma from icai to icmai.
    Cheeresssssss

  3. AMIT SINGHI says:

    yes indeed
    as compare to ICAI and ICWA chartered accountancy is very simple and generic you need a little more grasping power then BCom
    But ICWAI specially finals is a real class of itself nothing comparable, really you need a analytical mind to cater the complicated problems
    I had qualified all the three CS CA n CWA with ranks

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