The institute was established in 1949 by Government of India as an Apex Body for regularization of profession of Chartered Accountancy in India. Since its inception, the institute is contributing towards education, professional development, and maintenance of high accounting, auditing and ethical standards. The institute’s Headquarters is located in New Delhi, the national capital of India with 5 Regional Centers at Chennai, Kanpur, Kolkata, New Delhi and Mumbai and 98 branches all over the country. The institute also has 11 chapters in overseas.

With nearly 115,000 members and 250,000 students to its credit and 70% of the total members in practice ICAI has the mission to be valued as best among top class institutions in the world. The institute celebrated its ‘Golden Jubilee’ year in 1999.

The President is the Chief Executive Authority of the council in accordance with the Chartered Accountants Act 1949. The ICAI council consists of 30 members out of which 24 members are elected and 6 are nominated by the Central Government to represent the Comptroller and Auditor General of India, Central Board of Direct Taxes, Department of Company Affairs and other stakeholders.

The Council functions through three Standing Committees and 16 Non Standing Committees for carrying out the provisions of the Chartered Accountancy Act. Besides India the ICAI has its offices in Dubai, Bahrain and Abu Dhabi.