The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949, for the regulation and development of the Chartered Accountancy profession in the country, functioning under the administrative control of the Ministry of Corporate Affairs, Government of India. As the largest professional body of Chartered Accountants in the world, ICAI has built a strong tradition of service to the Indian economy in public interest, upholding the highest standards of technical competence, ethics and education since its inception in 1949.
ICAI is governed by a 40 member Council, with 32 members elected by Chartered Accountants and 8 members nominated by the Central Government. The Council oversees a wide mandate spanning education and examination of the CA course, formulation of accounting and auditing standards, ethical governance, quality and disciplinary oversight, financial reporting review, and policy inputs to the Government, reinforcing ICAI’s position as a premier accounting body in India and globally.
About the Insolvency, Bankruptcy and Valuation Standards Board of ICAI:
The Insolvency, Bankruptcy and Valuation Standards Board (IB and VSB) of the Institute of Chartered Accountants of India (ICAI), has been established to strengthen the profession in the fields of insolvency, restructuring, bankruptcy and valuation. Serving as a knowledge and capacity building hub for insolvency professionals and registered valuers, the Board is dedicated to advance technical excellence and regulatory readiness across the profession. It works in close coordination with key institutions including, the Insolvency and Bankruptcy Board of India (IBBI), the Ministry of Corporate Affairs (MCA), aligning Indian professional standards with global benchmarks while advancing research, training and regulatory improvements in the sector.
Through certificate courses, seminars, webinars, publications and knowledge resources on the Insolvency and Bankruptcy Code (IBC) and valuation practice, the Board continues to build professional competence at scale. Its mandate also encompasses the formulation, revision and updation of ICAI Valuation Standards, along with developing guidance and technical resources to support consistent and high quality valuation practices. The Board remains responsive to evolving legislative, regulatory and market developments, including amendments to the IBC, and works towards strengthening the overall ecosystem of insolvency and valuation in India.
About the Western India Regional Council (WIRC) of the Institute of Chartered Accountants of India
The Western India Regional Council (WIRC of ICAI) which is located at Mumbai is the largest Regional Council of Institute of Chartered Accountants of India amongst the Five Regional Councils, catering to the membership of more than 1,50,000 Chartered Accountants and about 3,00,000 CA students, spread across the network of 37 branches in the three States — the Maharashtra, Gujarat, Goa and the Union Territories of Daman, Diu, Dadra & Nagar Haveli. These CA members are either in practice or in business or holding eminent positions in various industries as well as Government Organizations spread across the Region.
WIRC of ICAI has always been in the forefront in organizing conferences, seminars, workshop and webinars which are important tools for the propagation of relevant information and dissemination of knowledge. WIRC of ICAI also make representations on the practice of various laws through Central Committees or directly to the respective offices of State Governments of Maharashtra, Gujarat, Goa and the Union Territories. It also organises various programmes for the benefit of the public at large.
About Insolvency and Bankruptcy Board of India (IBBI)
The Insolvency and Bankruptcy Board of India (IBBI), established on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016, is the key regulator overseeing the implementation of India’s insolvency and restructuring framework. It aims to ensure time-bound resolution, maximize asset value, promote entrepreneurship, enhance credit availability, and balance stakeholder interests.
IBBI is a unique regulator that governs both professionals and processes under the Code. It regulates Insolvency Professionals (IPs), Insolvency Professional Agencies (IPAs), Insolvency Professional Entities (IPEs), and Information Utilities (IUs) and also serves as the designated ‘Authority’ under the Companies (Registered Valuers and Valuation) Rules, 2017 for regulating and developing the valuation profession in India.
About Indian Institute of Corporate Affairs (IICA)
The Indian Institute of Corporate Affairs (IICA), an autonomous institute under the Ministry of Corporate Affairs (MCA), Government of India, was incorporated as a Society on 12th September 2008. Since 13th April 2012, it has been operating from its campus at Manesar, Haryana. IICA serves as a hub for capacity building, research, policy advocacy, and thought leadership in the area of corporate governance, sustainability, and business responsibility.
The Institute works to create an enabling ecosystem for corporates by conducting training and consultancy projects, supporting the Independent Director’s Data Bank and fostering collaboration between the Government, Regulators, and Corporates. Through its multi-dimensional initiatives, IICA plays a pivotal role in promoting responsible corporate practices and strengthening India’s corporate governance framework.
About Indian Institute of Insolvency Professionals of ICAI (IIIPI)
The Indian Institute of Insolvency Professionals of ICAI (IIIPI) is a Company formed by ICAI as per Section 8 of the Companies Act 2013, to enrol and regulate insolvency professionals as its members in accordance with Insolvency and Bankruptcy Code, 2016 (IBC). Today it is the largest IPA, enrolling nearly two-thirds of the nation’s insolvency professionals from diverse fields.
As a front-line regulator, IIIPI plays a pivotal role in strengthening the insolvency and bankruptcy framework by regulating professionals, upholding standards, and fostering knowledge and capacity building among stakeholders.
About ICAI Registered Valuers Organisation (ICAI RVO)
The ICAI Registered Valuers Organisation (ICAI RVO) is a Section 8 Company formed by the Institute of Chartered Accountants of India. It is established under the Companies (Registered Valuers and Valuation) Rules, 2017 to enrol and regulate registered valuers.
As a front-line regulator, ICAI RVO is committed to upholding high ethical and professional standards, ensuring compliance with statutory requirements, and fostering fair and transparent practices. It plays a vital role in developing the valuation profession by promoting continuous professional education, strengthening regulations, and maintaining accountability to the Authority.