About Institute of Cost and Management Accountants

The Institute

Institute of Cost and Management Accountants of Bangladesh (ICMAB) is the national body of the professional Cost and Management Accountants of Bangladesh. Established with the prime objective of promoting and regulating the Cost and Management Accounting profession in the country, the Institute offers education and training to the students interested to pursue career in this field and provides highly recognized CMA degree on fulfillment of requisite qualification. The Institute undertakes research in relevant fields and is the sole authority to issue practicing license to its members.

Legacy of the Institute

The Institute has a long heritage of rendering professional services to the nation. The journey of the glorious profession of Cost and Management Accounting began in the pre-independent Bangladesh with the founding of a branch of The Pakistan Institute of Industrial Accountants (PIIA) in 1958. As we started a fresh journey towards success and prosperity in independent Bangladesh, the profession entered into a new era. In 1972, the Institute was re-established in the name of Bangladesh Institute of Industrial Accountants (BIIA). Thereafter, the members of the Institute through their excellence in various fields proved their credibility in the national and international outfit which started building the credentials for the Institute for gaining acceptability from all concerned and to attain confidence of the government and business community of the country. With the changing need of time the Government of Bangladesh renamed it as The Institute of Cost and Management Accountants of Bangladesh (ICMAB) through promulgation of The Cost and Management Accountants Ordinance 1977 (Ordinance No LIII of 1977). Now in 2014, after a 40 years arduous journey, the chronicle of success earned by our predecessors has brought us to the place where we stand today.

Legal Status

ICMAB is a statutory organization constituted by the Government under the Cost and Management Accountants Ordinance 1977 (Ordinance No Llll of 1977) and regulated under the Cost and Management Accountants Regulations 1980 (as amended up-to date). It is the member of a number of regional and global accounting bodies.

Vision & Mission

Vision:
Institute's vision is to help Bangladesh become an industrialized nation by promoting and regulating Cost and Management Accounting profession to enhance economic competitiveness and quality of life.

Mission:
The Institute's mission is to develop, equip and promote Cost and Management Accounting profession by maintaining highest professional standard of its members in order to enable them to provide better services to the society.

The Institute is entrusted with the formulation and implementation of National Accounting as well as Cost Accounting Standards and take other necessary steps with a view to regulating the Cost and Management Accounting profession commensurate with global standard with the ultimate objective of developing Bangladesh's human and natural resources to ensure common welfare and to enrich our shared future.

Governance / Management

The Institute is governed by a Council constituted under the provision of the Cost and Management Accountants Ordinance, 1977. The Council consists of 12 Fellow Members elected by the members of ICMAB and 4 nominees from the Government of Bangladesh. The Council is elected for a period of three years. Every year one President, two Vice-Presidents, one Secretary and one Treasurer are elected as office bearers from amongst the councilors. The day to day administrative affairs of the Institute is however, managed by a team of fully employed personnel.