Empanelment of Organizations for Practical Training
The Institute of Cost Accountants of India (ICMAI) is a statutory body set up under an Act of Parliament in the year 1959. The Institute as a part of its obligation, regulates the profession of Cost and Management Accountancy, enrols students for its courses, provides coaching and training facilities to the students, organizes professional development programmes for the members and undertakes research programmes in the field of Cost and Management Accountancy. The Institute pursues the vision of cost competitiveness, cost management, efficient use of resources and structured approach to cost and management accounting as the key drivers of the profession.
The Institute is having four Regional Councils at Kolkata, Delhi, Mumbai and Chennai, 117 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 CMAs and over 5,00,000 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 in the Council of International Integrated Reporting Council (IIRC), UK.
The Institute mandates a Practical Training program for its students, which must be completed on a full-time basis for a minimum period of 15 months. Students have the option to undergo this practical training starting from their Intermediate level either under a Practicing Cost Accountant or within an organization/ industry. Under the revised Training Scheme, the minimum stipend payable by an organization for the first year is set at Rs.15,000 to Rs.20,000 (Rupees fifteen thousand to twenty thousand only) based on the classification of cities/ towns.
The major areas of practical training are: Management Accounting, Cost Accounting, Financial Accounting, Financial Management, Auditing, Regulatory Compliances, Direct & Indirect Taxation, Corporate Laws, Industrial Laws and Commercial Laws, Systems Analysis, Information Technology (including ERP system), Project Management, Banking Operation, Insurance, Insolvency & Valuation, Financial Services, Management Consultancy Services, Engineering Services involved in production of power or any manufacturing activities, Project Planning & Management, Quality Assessment, and Supply Chain Management, etc.
We have already empanelled several organizations to provide practical training to our students. As per the Institute's Practical Training Scheme, the student is required to submit Form T-4 for notification of engagement as a cost trainee in an organization.
We are keen on empanelling your esteemed organization to offer practical training to our students. To proceed with the empanelment, kindly complete the empanelment form available on our website. Please submit the completed form along with your latest Audited Annual Report via email at training@icmai.in
Once empanelled, the name of your organization will be listed on the Institute’s website among the organizations authorized to provide practical training to our students. We are happy to offer any assistance or guidance you may need in placing suitable candidates for practical training in your organization.
Contact No: 033-40364750/721 (Extn: 208/ 214)
E-mail: training@icmai.in
Please click here to download Form for empanelment of organization.