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The Institute of Chartered Accountants of India (ICAI) is the national professional accounting body of India. It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament (acting as the provisional Parliament of India) to regulate the profession of Chartered Accountancy in India. ICAI is the second largest professional Accounting & Finance body in the world. ICAI is the only licensing cum regulating body of the financial audit and accountancy profession in India. It recommends the accounting standards to be followed by companies in India to National Financial Reporting Authority and sets the accounting standards to be followed by other types of organisations. ICAI is solely responsible for setting the Standards on Auditing (SAs) to be followed in the audit of financial statements in India. It also issues other technical standards like Standards on Internal Audit (SIA), Corporate Affairs Standards (CAS) etc. to be followed by practicing Chartered Accountants. It works closely with the Government of India, Reserve Bank of India and the Securities and Exchange Board of India in formulating and enforcing such standards.

• Charted Accountants Day or CA Day is celebrated on July 1 every year to commemorate the finding of the Institute of Chartered Accountants of India (ICAI) by the parliament of India in 1949. ICAI is India's national professional accounting body and also the second biggest accounting organization in the world.
• The Institute of Chartered Accountants of India (ICAI) was established on this day in year 1949 under an Act passed in Parliament. Every year on the day of the establishment of the ICAI, CA Day is celebrated to honor the Chartered Accountant. 
• The ICAI is the sole licensing and regulatory body for the financial audit and accounting profession in India, and its recommendations are followed by everyone - from the National Financial Reporting Authority (NFRA) to companies and accounting organizations.
• National CA Day 2020: Wishes You Can Share With Your Chartered Accountant Friends.
• ICAI is the second largest professional body for finance and accounts in the world.

Short Notes: ICAI (The Institute of Chartered Accountants of India)

• Formation : 1 July 1949
• Headquarters: New Delhi
• President : Atul Kumar Gupta