Bibhuti Bhusan Nayak Elected New President of ICMAI

CMA Bibhuti Bhusan Nayak, a Fellow Member of the Institute of Cost Accountants of India (ICMAI) and a member of the Bhubaneswar Chapter, has been unanimously elected as the 67th President of ICMAI for the 2024-2025 term. Nayak brings over 30 years of professional experience in finance and cost accountancy to the position. He is Odisha’s third Cost Accountant to hold this esteemed role.

Professional Background

Nayak retired as Deputy General Manager (Finance) from Odisha Power Transmission Corporation Limited (OPTCL) and is currently a practicing Cost Accountant. His extensive experience includes serving as Chairman of the Bhubaneswar Chapter (2015-16) and as Chairman of the Eastern India Regional Council (EIRC) of ICMAI (2022-2023). He was also elected as a Council member for the 2023-27 term and served as Vice President for the 2023-24 term.

Significance for Odisha and ICMAI

The election of Nayak is a source of pride for Odisha and the Bhubaneswar Chapter. The ICMAI community across the country has extended heartfelt congratulations to him.

ICMAI Overview

The Institute of Cost Accountants of India, established as a statutory body on 28 May 1959 under the Cost and Works Accountants Act, 1959, regulates cost and management accounting in India. It operates under the Union Ministry of Corporate Affairs and is the second-largest Cost and Management Accounting body globally, and the largest in Asia. Headquartered in Kolkata, West Bengal, ICMAI has four Regional Councils in Kolkata, Delhi, Mumbai, and Chennai, 113 Chapters in India, and 10 overseas Centers. The Institute is a founding member of the International Federation of Accountants (IFAC), the Confederation of Asian & Pacific Accountants (CAPA), and the South Asian Federation of Accountants (SAFA).

New Vice President

TCA Srinivasa Prasad has been elected as the Vice President of ICMAI for the 2024-25 period. The election was held on 22 July 2024 in New Delhi.