The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountants in India. ICAI is the second largest accounting body in the whole world with a strong tradition of service to the public interest and to the Indian economy.
During its more than sixty eight years of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for maintaining highest standards in technical, ethical areas and for sustaining stringent examination and education standards.
Since 1949, the profession has grown leaps and bounds in terms of membership and student base. Starting with a handful of about 1700 members, today, the strength of Chartered Accountant fraternity has grown to over 2.75 lakh members. On the education front, the ICAI began with mere 259 students and today more than 8.20 lakh active students are a part of ICAI.
About Committee for Co-operatives and NPO Sectors (CCONPO), ICAI:
The Institute of Chartered Accountants of India functions through various Committees and one of the key Committee is the Committee for Co-operatives and NPO Sectors (CCONPO). The major aim of the Committee for Co-operatives and NPO Sectors is to promote uniform accounting framework for Cooperatives and NPOs, to encourage best practices and prudent financial management in the Sectors, to formulate guidelines for state-wise auditors’ empanelment, to develop necessary technical guides and publications for the benefit of Cooperatives and to suggest suitable reforms in the statutes regarding Cooperatives and NPOs.
The Committee conducts Certificate Course on Cooperatives and Certificate Course on NPO across the country for the benefit of the members. One of the major activities of the Committee is to organise various training programmes / seminars / workshops / webcasts on the subject for the purpose of creating awareness, giving updates and knowledge dissemination among its members, departmental officers and other stakeholders.
The Committee has published publications specific to the requirements of the Cooperative Sector pertaining to accounting practices, taxation, finances, Cooperative Banks, Arbitration and Housing Societies. The Committee is also in the process of bringing more publications to cater to the needs of the stakeholders for knowledge enhancement.