The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No.XXXVIII of 1949) for regulation and development of the profession of Chartered Accountants in the country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in public interest.
The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance and other stakeholders.
Over a period of time the ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for maintaining highest standards in technical, ethical areas and for sustaining stringent examination and education standards. Since 1949, the profession has grown leaps and bounds in terms of members and student base.


The ICAI Registered Valuers Organisation is a section 8 Company formed by the Institute of Chartered Accountants of India to enroll and regulate registered valuers as its members in accordance with the Companies (Registered Valuers and Valuation) Rules, 2017.
(1) The Organisation shall carry out the functions of the Registered Valuers Organisation under the Companies (Registered Valuers and Valuation) Rules, 2017, and functions incidental thereto.
(2) The Organisation shall not carry on any function other than those specified in sub-clause (1), or which is inconsistent with the discharge of its functions as registered valuers organisation.
Apart from the above, the duties of the Organisation have been set out in Regulation 6 (schedule to Notification No. MCA/3401/2017-18, dated 18-11-2017) as follows:-
(1) The Organisation shall maintain high ethical and professional standards in the regulation of its members.
(2) The Organisation shall –

  • ensure compliance with the Companies Act, 2013 and Rules, Regulations and Guidelines issued thereunder governing the conduct of Registered Valuers Organisation and Registered Valuers;
  • employ fair, reasonable, just, and non-discriminatory practices for the enrolment and regulation of its members;
  • be accountable to the Authority in relation to all Bye-Laws and directions issued to its members;
  • develop the profession of Registered Valuers;
  • promote continuous professional development of its members;
  • continuously improve upon its internal Regulations and Guidelines to ensure that high standards of professional and ethical conduct are maintained by its members; and
  • provide information about its activities to the Authority.