July 1 is celebrated as National Chartered Accountant Day in India. The day is observed in order to celebrate the formation of Institute of Chartered Accountants of India (ICAI) on July 1st, 1949. ICAI is the sole licensing and regulatory body for the financial audit and accounting profession in India. ICAI was formed a year before the Constitution of the country was formalized, and counts itself among the oldest professional institutions in the country.
Every year, on the day of the establishment of the ICAI, National CA Day is celebrated to honor the Chartered Accountants across the nation. A chartered accountant is a profession that gives direction to the financial condition of any country.
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