We can say 2012 was very good for Institute of Cost Accountants of India. some of succes are given below:
- Name Change to ICAI and get International designation -ACMA and FCMA
- Standing Commitee Favourable report for inclusions of "Cost Accountants" Under Definition of Accountants in proposed DTC Bill.
- More Companies under Cost Audit and Cost Compliance Certificate.
- "Cost Audit" Standards are mandatory in Companies Bill 2012.
- Cost Accountants regognised as "Internal Auditor" in Companies Bill 2012.
- NFRA will be set up as oversight body in Companies bill 2012- This is as per recommendation from ICAI( erstwhile ICWAI) to Standing Commitee.
- Relation with Ministry of Corporate affairs- Best relation with MCA since 1959
- Regognisation from various source where earlier only CAs were eligible. one example-
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- MRA with IPA Australia
- Best Dynamic president-CMA Rakesh Singh
- Best Relation with ICSI ( Institute of Company secretary of India)
- Increase more student for CMA course paticulary from small and medium cities and rural India( establish CMA support centre in rural India help this matter)
- Establishing more Cost Excellence centre like Hyderabad( Hyderabad Centre is best as compare to other Institutes)
- Excellent publications of guidelines for Cost Audit, Banking(Risk Audit), Cost Standards.
- Regognition of Cost Standards by Industry association
So, it can be said 2013 will be the year of Indian Cost and Management Accountants
Welcome 2013
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