Sections 15 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Section 15 gives the Council overall control of the Institute and lists its duties. Section 15A lists the Institute's functions. Section 15B lets universities and affiliated bodies teach the Institute's subjects, provided they do not copy its awards or name. The Act was called the Cost and Works Accountants Act, 1959 until 10 May 2022.
The Institute functions under the overall control, guidance and supervision of the Council, which carries out the Act. The Council's duties include approving courses, prescribing qualifications and fees, guidelines for certificates of practice, supporting the disciplinary bodies and the Quality Review Board, and, since 2022, guidelines, investor education, and arrangements with foreign agencies with Central Government approval. Universities may teach the Institute's subjects but must not award a degree or designation that resembles the Institute's.
How this article reads the Act
This article follows the Act as printed by the Institute (as amended in 2011), read with the 2022 Amendment Act to the extent brought into force by S.O. 2184(E) dated 10 May 2022. Sections 49 and 50 of that Act, which amend sections 15 and 15A, are in force. Later amendments and notifications should be checked.
A flag on firms. Two of the 2022 additions, section 15(2)(ea) (registration of a firm) and section 15A(ca) (a Register of firms), are in force as functions. But Chapter IVA (sections 20A to 20D), which sets up registration of firms, is enacted but not yet in force. Until it is brought into force, there is no firm registration to grant or refuse; see our article on sections 20A to 20D.
Section 15: functions of the Council
Section 15(1). The Institute functions under the overall control, guidance and supervision of the Council, and the duty of carrying out the provisions of the Act is vested in the Council.
Section 15(2). Without prejudice to the generality of that power, the Council's duties include the following, as amended:
| Clause | Duty |
|---|---|
| (a) | To approve academic courses and their contents |
| (b) | Prescribing fees for the examination of candidates for enrolment |
| (c) | Prescribing qualifications for entry in the Register of members (words substituted in 2022) |
| (d) | Recognising foreign qualifications and training for enrolment |
| (e) | Prescribing guidelines for granting or refusing certificates of practice |
| (ea) | The granting or refusal of registration of a firm (inserted 2022; see the flag above) |
| (f) | Levying fees from members, examinees and other persons |
| (g) | Regulating and maintaining the status and standard of professional qualifications of members |
| (h) | Research in accountancy, including by financial assistance to persons other than Council members |
| (i) | Enabling the functioning of the Director (Discipline), the Board of Discipline, the Disciplinary Committee and the Appellate Authority |
| (j) | Enabling the functioning of the Quality Review Board |
| (ja) | Issuing guidelines to carry out the objects of the Act (2022) |
| (jb) | Conducting investor education and awareness programmes (2022) |
| (jc) | Entering into any memorandum or arrangement, with the prior approval of the Central Government, with any agency of any foreign country, to perform its functions under the Act (2022) |
| (k) | Considering the recommendations of the Quality Review Board made under section 29B(a), and the details of action taken thereon in its annual report (2022 wording) |
| (l) | Ensuring the Institute functions in accordance with the Act and performs other statutory duties entrusted to it from time to time |
What changed in clause (k). Before 2022 the Council had to report action on the Board's recommendations to the Central Government within three months, and include them in the annual report. Section 49(iv) of the 2022 Act replaced that with the words "and the details of action taken thereon in its annual report". The three-month report to the Central Government no longer appears in clause (k).
The word "include" in the opening words means the list is not exhaustive. The Council's functions on discipline are linked to Chapter V; see our article on the Disciplinary Directorate.
Section 15A: functions of the Institute
Section 15A says the functions of the Institute include:
- (a) the examination of candidates for enrolment;
- (b) the regulation of training of students;
- (c) the maintenance and publication of a Register of persons qualified to practise as cost accountants;
- (ca) the maintenance and publication of a Register of firms (inserted 2022; see the flag above);
- (d) collection of fees from members, examinees and other persons;
- (e) subject to the orders of the appropriate authorities under the Act, the removal of names from the Register of members and firms and the restoration of names to the Register of members and firms (substituted 2022);
- (f) maintaining a library and publishing books and periodicals relating to accountancy and allied subjects;
- (g) the conduct of elections to the Council; and
- (h) granting or refusing certificates of practice as per guidelines issued by the Council.
Section 15 gives the Council duties; section 15A gives the Institute operational functions. In practice the Council sets the guidelines and the Institute carries out the work, such as examinations, registers, fees and elections.
Section 15B: education by universities and other bodies
Section 15B(1). Subject to the Act, any University established by law or any body affiliated to the Institute may impart education on the subjects covered by the Institute's academic courses.
Section 15B(2). When awarding a degree, diploma or certificate, or bestowing any designation, such Universities or bodies must ensure that the award or designation does not resemble, and is not identical to, one awarded by the Institute.
Section 15B(3). Nothing in the section lets a University or body adopt a name or nomenclature in any way similar to that of the Institute.
The connection with penalties is in sections 24 and 25, which punish falsely claiming membership and using the Institute's name or awarding degrees in cost accountancy; see our article on sections 23 to 25.
A practical example
A private institute, Meridian Business School, runs a course on costing that uses the Institute's syllabus with its permission as an affiliated body. At the end it plans to award a certificate called "Certified Cost Accountant". Under section 15B(2) the designation must not resemble or be identical to one awarded by the Institute, and under 15B(3) the school's own name must not be similar to the Institute's. A designation so close to "cost accountant" invites a challenge, so the school should seek advice before printing certificates.
A body that offers courses in this field, or a member who advises it, can use legal consultation to check names and designations against section 15B.
The same rule for chartered accountants
See Section 15 of the Chartered Accountants Act, 1949 and Sections 15A and 15B. Section 15(2)(ea) and 15A(ca) on firms, and the investor education clause, belong to the 2022 text of this Act.
Need help with courses, guidelines or Council duties?
If your organisation teaches cost accountancy subjects, designs a programme with the Institute's name, or needs to read the Council's duties against a dispute, a legal consultation can set out what section 15 to 15B allow and where the regulations decide.
Key takeaways
- The Institute works under the overall control, guidance and supervision of the Council.
- Section 15(2) lists duties from approving courses to investor education and foreign arrangements; the list is not exhaustive.
- Clauses (ea) and 15A(ca) on firms are in force, but Chapter IVA is not.
- Section 15A lists the Institute's operational functions, including examinations, registers, fees and elections.
- Universities may teach the Institute's subjects but must not copy its awards, designations or name.
Read next
- Sections 11 to 14: President, Vice-President and Council term
- Sections 16 to 18: officers, committees and finances
- Sections 29A to 29D: the Quality Review Board
Disclaimer: Based on the Cost and Works Accountants Act, 1959 (now the Cost Accountants Act, 1959) as printed by the Institute of Cost Accountants of India (as amended in 2011), read with the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Act, 2022 to the extent brought into force by S.O. 2184(E) dated 10 May 2022, as consulted on 3 October 2026. Regulations, rules, later amendments and commencement notifications should be checked. This article is general information, not legal advice; check the official text before acting.