The establishment of the Institute of Chartered Accountants of India (ICAI): the first step in the development of an accounting profession in post-independence India

Shraddha Verma and Sid J. Gray

No 19, The York Management School Working Papers from The York Management School, University of York

Abstract: This paper analyses the influence of culture and politics on the establishment of the Institute of Chartered Accountants of India (ICAI) using a theoretical framework, extending the work of Gray (1988) and McKinnon (1986) in which accounting change is analysed into three phases, a source phase, a diffusion phase and a reaction phase. The ICAI is established in a way which is in line with the cultural and social context of India with the ICAI set up under parliamentary charter promulgated through the parliamentary system and with government involvement in the council of the ICAI. In particular, the analysis shows the importance of the relationship between the state and the accounting profession in determining the outcome of accounting change, with in this case, the balance of power being in the hands of the Government.

Keywords: accounting profession; accounting change; culture; politics; India (search for similar items in EconPapers)
Pages: 40 pages
Date: 2006-02
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