Institute of Costs and Works Accountants of India (ICWAI)

The ICWAI was constituted by the Govt. of India through an Act of Parliament called The Cost

and Works Accountants Act 1959 as amended by the Cost and Works Accountants (Amendment) Act 2006.

The Institute of Costs and Works Accountants of India (ICWAI) is the premier institution actively contributing to the industrial and economic growth of the nation through developing systems and imparting knowledge and techniques resulting in making of the Cost and Work Accountants. "A Cost Accountant is a person who offers to perform or perform services involving the costing or pricing of goods and services or the preparation, verification or certification of cost accounting and related statements".

The ICWAI serves the industry, government, and the society at large by creating professional accounting and auditing skills and professional techniques, knowledge and education in the field of cost and management accounting.

The Institute of Cost and Works Accountants of India is the only recognized statutory professional organization and licensing body in India specializing exclusively in Cost and Management Accountancy.

Objectives of ICWAI:

The Institute aims to develop Cost and Management Accountancy function as a tool of management control in industrial and economic activities, develop scientific methods and techniques in costs and management accountancy and develop a community of members charged with abilities to fulfill the needs of a developing economy and to incorporate newly developed professional knowledge and techniques.

Achievements of ICWAI:

Over the years since its establishment the ICWAI has proved that the Costs and management accountancy function played a very important role in the business, industry, government, NGOs, financial regulatory and auditing bodies beyond doubt. Apart from business houses, government departments, public sector corporations of India, charitable fund utilization organizations, mutual funds, banks, etc. have hired hundreds of Cost and Management Accountants who have climbed the career ladders of the organizations up to top management positions.

The ICWAI qualification is recognized by many Universities at par with Ph. D and many others recognized it as an eligibility threshold for enrolling for Ph. D programme. Even many foreign business houses and government organizations have recognized the qualification for appointment in strategic positions.

ICWAI Courses are categorized in to:

a) Foundation Course which admits candidates who have passed senior secondary under 10+2 scheme of a recognized Board of Examination.

b) Intermediate Course which requires the candidate to have passed University degree of a recognized university. Examinations are held twice a year, i.e., in June and December. For June Term Examination the candidates need to apply before 18th December of previous year and for December Term Examination apply before 26th June.

Certificate in Accounting Technicians (CAT) Course

To meet the growing demand of accountants in the junior level the Institute of Cost and Works Accountants of India has started Certificate in Accounting Technicians (CAT). It is a one year course with two levels: the Foundation (Entry Level) course and Competency Level -Part II. The part 1 teaches Organization and Management Fundamentals, Accounting, Economics and Business Fundamentals, Business Mathematics and Statistics Fundamentals. The Level 2 course teaches financial accounting and applied statutory compliance. Candidates should have passed 12th Standard for foundation course and Graduation from a recognized University plus foundation course from ICFAI are eligible for Competency Level course.

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