Bibhuti Bhusan Nayak has been elected unanimously as the new President of the Institute of Cost Accountants of India (ICMAI) for the 2024-25 period. He will succeed Ashwin Dalwadi, who was the president for the 2023-24 period.

The election to elect the new president and vice president of the Institute of Cost Accountants of India for 2024-25 was held on 22 July 2024 in New Delhi.

TCA Srinivasa Prasad has been elected as the vice president of the Institute of Cost Accountants of India for 2024-25

Institute of Cost Accountants of India (ICMAI)

The Institute of Cost Accountants of India was set up as a statutory body on 28 May 1959 under the provisions of the Cost and Works Accountants Act, 1959.

A statutory body is an institution set up under the provision of a law made by the Parliament or by a competent state legislature.

The Institute of Cost Accountants of India comes under the Union Ministry of Corporate Affairs.
The Institute of Cost Accountants of India is the regulator of Cost and Accounting Management in India.
The Institute of Cost Accountants of India is the second-largest Cost and Management Accounting body in the world and the largest in Asia.
The headquarters of the Institute of Cost Accountants of India is in Kolkata, West Bengal.
The Institute of Cost Accountants of India has four Regional Councils in Kolkata, Delhi, Mumbai and Chennai, 113 Chapters in India and 10 overseas Centers.
The Institute is a founding member of the International Federation of Accountants (IFAC), the Confederation of Asian & Pacific Accountants (CAPA) and the South Asian Federation of Accountants (SAFA).