Management Accounting Awards of ICMAI

ABOUT ICMAI

The Institute of Cost Accountants of India (ICMAI) is a statutory body established by a special Act of Parliament, namely, The Cost and Works Accountants Act, 1959 for regulation and development of the profession of Cost and Management Accountancy in India. The Institute functions under the jurisdiction of the Ministry of Corporate Affairs, Government of India. The Institute is headquartered in Delhi having four Regional Councils at Kolkata, Delhi, Mumbai and Chennai, 112 Chapters in India and 11 Overseas Centres. The Institute is the largest Cost & Management Accounting body in the world with about 1,00,000 qualified Cost and Management Accountants and over 6,00,000 students pursuing the CMA Course. The Institute is a founder member of International Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA). The Institute is also an Associate Member of ASEAN Federation of Accountants (AFA) and member of International Integrated Reporting Council (IIRC), UK. The Institute, as part of its prime responsibility, is continuously making pioneer efforts to promote, recognize and reward Cost Management culture and practices in the corporate sector including sustainable practices and governance.

OBJECTIVES OF THE INSTITUTE

  • To develop the Cost and Management Accountancy function as a powerful tool of management control in all spheres of economic activities.
  • To promote and develop the adoption of scientific methods in cost and management accountancy.
  • To develop the professional body of members and equip them fully to discharge their functions and fulfil the objectives of the Institute in the context of the developing economy.
  • To keep abreast of the latest developments in the cost and management accounting principles and practices, to incorporate such changes are essential for sustained vitality of the industry and other economic activities.
  • To exercise supervision for the entrants to the profession and to ensure strict adherence to the best ethical standards by the profession.
  • To organise seminars and conferences on subjects of professional interest in different parts of the country for cross-fertilisation of ideas for professional growth.
  • To carry out research and publication activities covering various economic spheres and the publishing of books and booklets for spreading information of professional interest to members in industrial, education and commercial units in India and abroad.

INTRODUCTION TO MANAGEMENT ACCOUNTING AWARDS

The Council, at its 350th meeting, has approved the proposal of Management Accounting Committee for the commencement of Management Accounting Awards. Following are the objectives of the award:
The MA award initiative proposes to award the Corporate Entities in India having excellence in Management Accounting Principles and Practices (MAPP). The award ceremony would be held every year on 6th May at the National Seminar of International Management Accounting Day.
The purpose is to evaluate entities on its maturity level in adoption of Management Accounting Principles and Practices and give them awards for their awareness, implementation and the resilience to pursue global leadership. It is expected that this initiative will encourage corporate entities to value Cost & Management Accounting practices, adopt and align themselves for the best MAPP and create awareness amongst the society, thereby instilling a progressive economy.
Presently, the award is in form of customized trophies and certificates to be issued to 1st and 2nd prize winners in each of the 6 categories. In the process, applications would be invited within a timeframe, through public information. Thereafter, these applications that are received with the necessary data inputs would undergo evaluation by a group of eminent jury. This appointed jury would shortlist the entities, category wise, for further process.

CATEGORIES OF AWARDS
Majorly there are six different categories of entities to be awarded:

  1. Listed
  2. Unlisted
  3. LLPs
  4. NGOs
  5. Co-operative Boards
  6. MSMEs
  7. Others

APPLICATION PROCEDURE

  1. The applying organizations have to fill up the questionnaire of the Institute and mail back the scanned questionnaire with the stamp & seal of the company and signature of the submitting authority.
  2. The hard copies of duly filled questionnaire with all the documents have to be forwarded to ‘The Secretary, Management Accounting Committee, The Institute of Cost Accountants of India, CMA Bhawan, 12, Sudder Street, Kolkata- 700016’ with a covering letter. In the covering letter, the co-ordinating details of “SINGLE PERSONNEL FOR CONTACT” has to be provided. Institute will correspond only with the “SINGLE PERSONNEL FOR CONTACT”. The documents have to reach the mentioned address on or before the last date of submission. Postal delays would not be considered by the Institute.
  3. Applications which are not in the prescribed format or having un-responded questions will be rejected.
  4. Please click here to download the MAPP concept note
  5. Please click here to download the Questionnaire format

The following aspects are to be borne in mind while filling the questionnaire:

  • Organizations applying for awards should meet the criteria to be eligible for the awards.
  • Organizations are requested to abide strictly by the format given in the questionnaire, and not delete / change any of the questions. If information is not applicable to the entity, you may write NA.
  • The evaluation of reports will be done by ICMAI based on a robust two-tier process of preliminary review, analysis, and jury evaluation. The company representative may also have to make a presentation before the jury, if intimated. The jury may interact further with the entities for understanding the level of MAPP maturity and governance inculcated in the organization. The process includes assessing the quality and completeness of the reporting, the transparency of information, and the application of practices of Management Accounting.
  • The objective of these awards not just quantitative evaluation based on figures of performance, but more qualitative in nature evolving around understanding the maturity level of MAPP adopted by a particular organization.
  • The word file as well as the pdf are available in the above link, interested organizations are requested to type in details in the downloaded formats rather than handwritten for clarity purpose.
  • The last date for submission is till 15th March, 2026, 6pm.
  • ICMAI shall not be responsible for postal or server delays for submission of the filled in forms / documents.
  • The applications of companies that attempt to influence the process will be out-rightly rejected. ICMAI will not have any obligation to cite the reasons in such situations.
  • Employees of ICMAI cannot apply for the awards by their associated organizations.
  • The decisions of ICMAI in regard to these MA awards is final and would be binding on the participants.

For any queries, please mail at: ma@icmai.in