ICWAI Full Form

What is the full form of ICWAI?

ICWAI is the abbreviation used for the Institute of Cost and Works Accountants of India. The ICWAI is also known as the ICAI (Institutes of Cost Accountants of India) or ICMAI. The institute is a professional and certified body recognised by India that also administers the Indian profession of cost and accounting management. The main purpose of ICWAI is to regulate, promote, support, and improve the management accounting and cost professions throughout India by setting guidelines through various training and practice activities in cost and management accounting.

History of ICWAI

The ICWAI was first formed in 1944 as a registered limited company under the provisions of the Company Law of 1913 with the initial objective of promoting, controlling, and improving the cost accounting field.

Both Houses of the Indian Parliament, i.e., Lok Sabha and Rajya Sabha approved the CWA Amendment Act 2011 on December 12, 2011; it was passed on January 12, 2012, by the Honourable President of India. The amendments were released on January 13, 2012, in the Legal Gazette of India.

Course Offered

ICWAI (Institute of Cost and Works Accountants of India) offers a minimum three-year course called ICWA that consists of three stages:

• Foundation

• Intermediate

• Final

The course is aimed at students who intend to become cost management accountants. The institute assists students in developing professional qualifications and provides them with the education and training required to skillfully excel as a cost management accountant worldwide.