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The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949, enacted by the Indian parliament to regulate the profession of Chartered Accountancy in India. It is the second largest professional accounting and finance body in the world in terms of membership. Apart from offering the prestigious and globally recognized Chartered Accountant (CA) course, the ICAI also provides other educational programs in the fields of accounting, auditing, and finance. ICAI's responsibilities include the setting of accounting and auditing standards for the Indian financial sector, as well as monitoring and ensuring the adherence of its members to professional ethos and regulations.