Bibhuti Bhusan Nayak elected new president of ICMAI for 2024-25

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).