The Institute of Cost Accountants of India - WIRC

What The Institute of Cost Accountants of India - WIRC does

The Institute of Cost Accountants of India - Western India Regional Council (WIRC) is the regional arm of a statutory professional body established under the Cost and Works Accountants Act, 1959, an Act of the Indian Parliament. WIRC's registered office is located at 122, First Floor, Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai 400093, and it functions as a non-profit organization with 13 employees. It is part of a broader ICMAI structure that operates four regional councils and is recognized as the 2nd largest Cost and Management Accounting body globally and the largest in Asia.

WIRC's core function is to deliver the CMA (Cost and Management Accountant) certification pathway within the Western India territory covering Maharashtra, Gujarat, Goa, Madhya Pradesh, Chhattisgarh, and the Union Territories of Daman & Diu and Dadra & Nagar Haveli, supported by a network of 25 chapters. Its product surface spans student admissions, examination support (through digital practice tools such as MCQ Practice Tools), industrial training facilitation (CMA Articleship Mela), scholarship programs for weaker/meritorious students, Continuing Professional Education (CPE) for members, and a portfolio of publications including the WIRC Bulletin, CMA Vidyarthi, and Tax Chronicle. Technology delivery is via a mobile-responsive website, native Android and iOS applications, and dedicated e-learning platforms.

The operating model is fee-and-dues based, typical of a professional membership body: revenue is generated from student registration and examination fees, membership subscriptions, publication sales, CPE program fees, and coaching income. Governance is led by elected office bearers (for the 2025-26 term: Chairman CMA Chaitanya Mohgaonkar, Vice Chairman CMA Harshad S. Deshpande, Secretary CMA Avinash L. Joshi, Treasurer CMA Hetal J. Vasa), and the unit reports into the parent ICMAI council, which sets the statutory standards and national policy. As a sub-unit of a statutory regulator, WIRC is not a commercial investment target but an institutional service delivery layer within a closed, credentialed professional ecosystem.

Name

The Institute of Cost Accountants of India - WIRC

Legal name

The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Western India Regional Council

Website

https://icmai-wirc.in

Company type

Private

Founded year

1944

Operating status

Operating

Headcount range

11–50 employees

Short description

The Western India Regional Council of ICMAI, a statutory professional body under the Cost and Works Accountants Act, 1959, delivering CMA education, examinations, CPE, and member services across Maharashtra, Gujarat, Goa, MP, Chhattisgarh, and select UTs via 25 chapters.

Ownership category

akta.pro rank

Product category

Professional Accountancy Certification

NAICS

Colleges, Universities, and Professional Schools (6113)

SIC

Services-Membership Organizations (8600), Services-Educational Services (8200)

akta.pro industry

PRIMARYEDAAALAA

Accounting, Audit & Tax (CPA/CA/ACCA CPE)

Education/Adult & Continuing Education/Professional Licensure & Continuing Professional Education (CE/CPE)

SECONDARYEDAAANAD

Finance, Accounting & Risk (CFA/CPA/FRM) Certifications

Education/Adult & Continuing Education/Professional Certification Programs

SECONDARYEDADACAF

Continuing Education (CE/CPD) & Provider Accreditation Bodies

Education/Education Administration, Accreditation & Policy/Accreditation Bodies (Institutional & Programmatic)

Keywords

• Cost management accounting
• Professional certification programs
• Continuing professional education
• Membership and licensing
• Accountancy examination services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Student Admission and Examination Fees: Fees collected from students for admission to CMA courses including foundation, intermediate, and final levels. Also includes examination fees for term examinations.
2. Membership Fees: Annual membership fees collected from cost and management accountant professionals who are members of the institute
3. Direct Membership Fee: One-time fees for direct membership registration for qualified professionals seeking to join the institute
4. Publications and Bulletins: Revenue from publishing WIRC Bulletins, CMA Vidyarthi student bulletins, and Tax Chronicle publications
5. CPE Programs and Seminars: Continuing Professional Education programs, seminars, webinars, and conferences for member development
6. Oral Coaching Centers: Coaching programs offered through affiliated colleges and institutions for CMA exam preparation

Distribution channels5 records

Marketing channels8 records

Core offering

ICMAI-WIRC is the Western India Regional Council of The Institute of Cost Accountants of India, delivering the CMA (Cost and Management Accountant) professional qualification across Foundation, Intermediate, and Final levels. It grants professional membership, conducts continuing professional education (CPE) programs and seminars, publishes bulletins and journals, runs oral coaching centres through affiliated colleges, and facilitates articleship and placement through the CMA Articleship Mela.

Product overview

ICMAI-WIRC functions as a professional body and regional council offering a portfolio of educational publications and student support services. The core offerings include periodical publications (WIRC Bulletins, Tax Chronicle), student-focused e-bulletins (CMA Vidyarthi), examination preparation tools (MCQ Practice), and student development initiatives (CMA Articleship Mela, Scholarship Scheme). Physical presence is maintained through oral coaching centers at affiliated colleges. The organization also publishes The Management Accountant journal and facilitates annual reporting through consolidated annual reports.

Differentiator

Problem solved

Functional benefit

Brands

• CMA Vidyarthi: Student E-Bulletin published by WIRC for CMA students
• WIRC Bulletin
• Tax Chronicle
• CMA Articleship Mela

Products and services

• WIRC Bulletins Monthly and annual bulletins published by ICMAI-WIRC containing updates, announcements, articles, and professional content for members and CMA students across the Western India region.
• CMA Vidyarthi Student-focused e-bulletin with special editions covering events, celebrations, and professional guidance for CMA students pursuing Foundation, Intermediate, and Final levels under ICMAI-WIRC.
• Tax Chronicle Monthly tax publication by ICMAI-WIRC providing updates on tax regulations, compliance requirements, and expert analysis on taxation matters for members and students.
• MCQ Practice Tools Multiple Choice Questions practice materials and downloadable study resources for CMA Intermediate students to prepare for term examinations under the CMA 2022 syllabus.
• CMA Articleship Mela Flagship centralised placement initiative by ICMAI-WIRC connecting CMA students with cost accounting firms, corporates, and PSUs for mandatory practical articleship training under the 2025-26 cycle.
• CMA Qualification Programme (Foundation, Intermediate, and Final) Statutory Cost and Management Accountant qualification programme at Foundation, Intermediate, and Final levels, delivered via online admission, classroom coaching, term examinations, and mandatory articleship; admits students across India with regional delivery through WIRC.
• Membership and Direct Membership Registration Annual membership subscription and one-time direct membership registration services for qualified Cost and Management Accountants, enabling professional standing, CPE access, and use of the CMA designation.
• Oral Coaching Centers Classroom-based oral coaching delivered at affiliated Mumbai colleges for CMA Foundation and Intermediate levels, providing in-person instruction in addition to online student services for students in the Western India region.
• The Management Accountant Journal Official professional journal of The Institute of Cost Accountants of India providing in-depth content on cost and management accounting, distributed to members through the regional councils.
• Continuing Professional Education (CPE) Programmes, Seminars and Webinars Continuing professional education programmes, regional conventions, seminars, webinars, and conferences designed for CPE credit and member development, including RCMAC, National Seminar on Cost Audit, MSME Conclave, Tax Conclave, and SRCC.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• American Institute of CPAs (AICPA): US national professional body for Certified Public Accountants offering the CPA credential and substantial CPE infrastructure. Adjacent credentialing peer targeting similar Indian commerce talent seeking global accounting qualifications.
• Chartered Institute of Management Accountants (CIMA): UK-based global professional body for management accountants; direct thematic overlap on cost and management accountancy credentials and CPE, competing for the same aspiring professionals in India and globally with a broader international footprint.
• IMA (Institute of Management Accountants): US-based professional association issuing the US CMA credential. Global peer operating in cost and management accountancy credentialing and CPE, including inside India, where it directly competes for management accounting talent.
• Association of Chartered Certified Accountants (ACCA): UK-headquartered global accountancy body with strong Indian student penetration. Competes with ICMAI for the same Indian commerce graduate pool seeking internationally portable accounting qualifications and CPE frameworks.
• CPA Australia: Australian professional accounting body actively recruiting Indian members and students. Comparable credentialing and CPE model aimed at the same Indian cost/accounting professional base.
• CPA Canada (Chartered Professional Accountants of Canada): Canadian national chartered professional accounting body. Another global accountancy credentialing peer with presence in India offering an alternative international designation to aspiring cost and management accountants.

Direct peers

• Institute of Chartered Accountants of India (ICAI): India's statutory body for Chartered Accountants under its own Act of Parliament. Closest domestic peer providing professional accountancy credentials, CPE programs, regional chapters, and the same student-to-member pipeline model, but for the more dominant CA designation.
• Institute of Company Secretaries of India (ICSI): India's third statutory professional body under an Act of Parliament, governing Company Secretaries. Comparable model: government-established licensing body, multi-tier examinations, CPE for members, regional chapters, and student support services competing for the same Indian commerce graduate audience.
• The Institute of Cost Accountants of India (ICMAI): National statutory parent body of which WIRC is the Western India regional council. Operates identical mandate of CMA licensing, CPE, and member services but at pan-India scale through four regional councils (Kolkata, Chennai, Delhi, Mumbai).

Regional players

• South African Institute of Chartered Accountants (SAICA): Statutory professional body for chartered accountants in South Africa operating under a comparable Act-based licensing model. Useful thematic peer for benchmarking governance, examination, and CPE structures outside the Asia-Pacific mainstream.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/icmaiwirc
• YouTubeyoutube.com/@icai-wirccma4146
• Facebookfacebook.com/CMAWIRC
• LinkedInlinkedin.com/company/icmaiwirc
• Instagraminstagram.com/icmaiwirc/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about The Institute of Cost Accountants of India - WIRC