The only statutory Institute of the country that imparts education and conducts qualifying examination for Cost & Management Accountants and regulates and develops the profession thereof, ICWAI started its journey in 1944 in the midst of the Second World War when quick costing & pricing of war contracts was a crucial need of the hour. Soon it grew out as a huge edifice of the professional Cost Accountants spreading all over India and abroad.1944 to today is a great journey that witnessed a sea change in the economic reality that the Institute and its members helped to take shape. Indeed Cost Accountants played a big role from the 40’s starting with cost determination and cost control with respect to cost-plus contracts that were the order of the day.