The Chartered Accountants Act, 1949 is a statute enacted by the
Constituent Assembly of India
Constituent Assembly of India was partly elected and partly nominated body to frame the Constitution of India. It was elected by the Provincial assemblies of British India following the Provincial Assembly elections held in 1946 and nominated ...
, 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, Abbreviation, abbreviated as ICAI, is India's largest professional accounting body under the administrative control of Ministry of Corporate Affairs, Government of India. It was established on ...
was established as a statutory body for the promotion, development and regulation of "the profession of Chartered Accountants in India". The law 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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