<h1>ICWAI Renames to ICAI; Members Adopt ACMA and FCMA Designations for Global Recognition under Amendment Act 2011.</h1> The Institute of Cost and Works Accountants of India (ICWAI) has changed its name to The Institute of Cost Accountants of India (ICAI) following the ICWAI Amendment Act 2011. Members can now use the designations ACMA and FCMA, representing Associate and Fellow membership, respectively. This change aims to provide international recognition and eliminate discrimination faced by members using the previous designations AICWA and FICWA. The announcement was made by the institute's president during a conference in Bangalore. ICWAI, established under the Cost and Works Accountant Act, 1959, promotes and regulates the cost accountancy profession.