ICWAI in 2004: Grappling with New Challenges

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Case Details:

Case Code : BSTA024
Case Length : 20 Pages
Period : 2004 - 2005
Organization : ( ICWAI ) Institute of Cost and Works Accountants of India
Pub Date : 2005
Teaching Note :Not Available
Countries : India
Industry : Management Association

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Introduction

In 2004, the Institute of Cost and Works Accountants of India (ICWAI), faced major concerns. While the Institute's financial position was rapidly deteriorating, there had been a sharp decline in student registrations. The institute was also mired in controversies involving examination malpractices and financial mismanagement. According to informed observers, various factors seemed to have contributed to the crisis - an outdated curriculum, severe competitive pressure from new programs and serious differences within the Central Council, ICWAI's apex body. To complicate matters, on 22nd December 2003, the finance minister Jaswant Singh introduced a bill in the Parliament to amend the law governing the ICWAI.

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The bill gave the government, powers to dissolve the Central Council if its directions were not followed. The threat of government intervention seemed to accentuate ICWAI's problems.

H R Subramania who had taken over as ICWAI's president in July 2004 admitted:

"We are living in times of significant changes and Institutions like the ICWAI are evolved to establish and enhance the positive perspectives in life. Indeed the responses from ICWAI had been rather slow and it is imperative that further continuation of such slow responses to contemporary changes would bring down the Institute and the Cost and Management Accountancy Profession in the country. I hope to express the Central Council's strategies to develop the Institute and the Profession through this column and expect all of you to give your valuable views on the plans and programmes. As Members, we should be the most prepared and the most proactive professionals in this changing environment."

As 2004 got under way, ICWAI's Central Council members wondered how they could revitalise their 60-year old organization...

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