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The Institute of Cost and Works Accounts of India (ICWAI) was set up in 1944 in the midst of Second World War, with the main aim of promoting, regulating and developing the profession of Cost and Accountancy in the country. The Institute of Cost and Works Accountants of India (ICWAI) is the only recognised statutory professional organization and licensing body in India, which specializes exclusively in Cost and Management Accountancy. Every year, it churns out thousands of Cost and Accounts professionals in the country, who manage the cost and audit of the country's vast industrial sectors.
Besides, the institute also organizes seminars and conferences on subjects of professional interest in different parts of the country for cross-fertilization of ideas for professional growth. It also undertakes research and publication services in various economic spheres.
The institute is recognized by the Academic Councils of Indian Universities and such its products are welcomed to take up Ph.D/Doctoral program in Commerce. Whether its government, public or private sector, the doors for Cost Accountants are opened everywhere in the fields of Accounting and Management functions. The Government of India has even constituted an all-India cadre known as Indian Cost Accounts Service (ICAS) at par with other Class-I services such as IAS, IFS etc. to advise the government in cost pricing and in framing the appropriate fiscal and tax policies.
