The ICAI is leveraged with modern resources in terms of infrastructure and capable of handling all type of consulting assignments in the field of institutional development, capacity building, developing accounting/auditing standard and drafting different acts and regulations.The institute actively takes part in different projects initiated by government. At times, the institute also suggests government of India on different financial issues.
The institute makes its presence in different government organizations through its nominees. The organizations like Central Direct Tax Advisory Committee of Government of India (GOI); Reserve Bank of India Sub-Committee (Audit) of the Board for Financial Supervision; SEBI Primary Market Advisory Committee; SEBI Committee on Substantial Acquisition of Shares & Takeover Regulations; RBI's Informal Advisory Group on NBFC's; RBI's Group for Evaluating Internal Audit System in Banks and many other recruit ICAI nominees and avail their services.
The ICAI makes its presence at web space as well. This is the first institute that has acquired a digital certificate issuing capability as a sub - certifying authority. The projects of e-education and e-learning are actively considered by the institute.
The institutes' primary function is to prescribe qualification for membership, conducting examination and making arrangement for practical training of candidates, publication and maintenance of register of members qualified to practice the profession, carrying on activities for development of the chartered accountancy as a profession and regulation and maintenance of status of standard and standard of professional qualification of the members.
The institute provides postal coaching, oral training and make arrangements for practical training of the candidates all over the country.Also the institute sets up center for examination all over the country and thus students can write the examination at ease.The institute organizes seminars, workshops, etc and provides library facilities.Various Handbooks and Pamphlets are also published by the institute on the basis of researches conducted by it.
The Institute of Chartered Accountants of India (ICAI) explores employment opportunities for its members.The institute issues certificates of practice to its members and exercises disciplinary Jurisdiction as quasi-judicial authority over their profession and their conduct.The institute also works up with universities and other education providers in commerce and industry in shaping up their curricula and content.A monthly journal titled "The Chartered Accountant" is published by the institute.
Besides regularizing the profession of chartered accountancy in India, the institute also sets up National Accounting Standards.
The Auditing & Assurance Standards (AAS) is also issued by the ICAI. The AAS encode the audit practices followed by the members of the institute whenever audit is carried out by the institute member.The ICAI has issued 30 AAS till date that meet the International standard.
The Board of Studies of council is dedicated to provide education to the students of Chartered Accountancy (CA) programme mainly through distance mode.The revision of CA syllabi and keeping a watch on the institutes that are accredited for providing oral coaching is among main tasks of the board.
• As an Advisory BodyThe institute provides technical advice to the following authorities, time to time.
- Comptroller and Auditor General of India
- Department of Company Affairs
- Reserve Bank of India
- The Securities and Exchange Board of India
- Central Board of Direct Taxes
- Insurance Regulatory Authorities
- Insurance Regulatory Authorities
..And many more
The ICAI also provides inputs when require to the Trade Policy Division, Ministry of Commerce & Industry of Government of India. As effect to this, the government actively takes part in negotiations with the Working Party on Professional Services (WPSS) of the World Trade Organizations (WTO).
