The Institute of Chartered Accountants of India (ICAI) is a statutory body established by the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India. 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 is composed of 40 members of whom 32 are elected by the members and remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Ministry of Corporate Affairs, Ministry of Finance and other stakeholders.

On February 12, 2016, ICAI elected its new torchbearers CA. M. Devaraja Reddy as the President and CA. Nilesh S. Vikamsey as the Vice-President for year 2016-17.

CA. M. Devaraja Reddy, President, ICAI
A man of great vision, strong integrity and hard discipline with a firm belief in the inclusive growth of accountancy profession,CA. M. Devaraja Reddy has taken over as the supreme torch-bearer of Indian accountancy profession. He has been elected President of The Institute of Chartered Accountants of India (ICAI), for the year 2016-2017 by the 23rd Council of the Institute on February 12, 2016. A resident of Hyderabad, he is a fellow ICAI member with a prudent professional foresight and more than 28 years of immaculate professional standing. CA. M. Devaraja Reddy has served the Indian accountancy profession as Vice President of ICAI for the Council Year 2015-16.

CA. Nilesh S. Vikamsey, Vice-President, ICAI
A person of professional vigour, dynamism, high integrity and expertise,CA. Nilesh S. Vikamsey is the new Vice-President of the Institute of Chartered Accountants of India(ICAI) for the term 2016-17. He was elected as the Vice-President of ICAI by the 23rd Council of the Institute on February 12, 2016. A resident of Mumbai, he has been a member of the ICAI since 1985. Having gained deep insights into the profession as a fellow member of the ICAI with more than 30 years of impeccable professional standing, he has served the ICAI and the profession as a Central Council Member since 2010.