The Institute of Chartered Accountants of India, a statutory body established under the Chartered Accountants Act, 1949 was set up in July 1949 for the regulation of the profession of chartered accountancy in India. The Institute has achieved recognition as a premier accounting body for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. Bhubaneswar Branch of Eastern India Regional Council of The Institute of Chartered Accountants of India was setup on 16 September 1979.