Recently ICWAI has been in process to revamp the profession of Cost and Management Accounting in new shape, following steps is taken:
1) Revised syllabus introduced from 2008 onwards in line with International federation of Accountant's Guidelines.
2) Revised Study materials as per international standards, now one of the best study materials in India.
3) Article ship of 3 years becomes compulsory in CMA course.
4) Computer training now compulsory
5) Campus recruitment for recently passed students organised by regional councils.
6) New Chapters opened in new places
7) Proposal of name change of the institute is accepted by government and now bill is in parliament,
8) ICWAI qualification is recognised for the P.HD. courses in the universities
9) Online classes will be introduced shortly process already started.
10) Online admit card available to students for the examination
11) Inline Examination form facility introduced.
12) Issuing of Cost accounting standards
13) Guidance notes issued on implementation CAS4
14) Issuing of Identity Cards to Qualified members
15) Signatures of the members registered with Institute
16) Cost audit become mandatory in 14 industries
17) Cost Accountants are eligible for Vat audit
18) Minimum professional fess is prescribed by the institute
19) Mutual recognition agreement signed with various international bodies
20) Members of the institute are allowed to certify various documents in MCA requirements.
21) Members login ID facility on ICWAI website
22) Membership fees can be paid online.
23) Introduction of IFRS course for the members
Process of improvement is continuous, so please advice if anybody has new suggestion.