The Chartered Accountants Act, 1949 is a statute enacted by the
Constituent Assembly of India
The Constituent Assembly of India was elected to frame the Constitution of India. It was elected by the 'Provincial Assembly'. Following India's independence from the British rule in 1947, its members served as the nation's first Parliament as ...
, which was acting as the provisional Parliament of India in 1949 to regulate the profession of Chartered Accountants in India. Under this act, The
Institute of Chartered Accountants of India
The Institute of Chartered Accountants of India (ICAI) is India's largest professional accounting body under the administrative control of Ministry of Corporate Affairs, Government of India. It was established on 1 July 1949 as a statutory bod ...
was established to educate, register and regulate Chartered Accountants in India. The Act provides for qualifications, elections for central as well as regional councils, penalties for misconduct by Chartered Accountants.
References
External links
Act No. 38 of 1949Informative Website & Training institute – AJ Education NeXt
Acts of the Parliament of India 1949
Accounting in India
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