The Cost and Management Accountants Ordinance of 1977 establishes the regulatory authority of ICMAB regarding all cost and management accounting professionals. Under the Ordinance, ICMAB is responsible for: (i) stipulating the qualifications for membership; (ii) establishing professional examinations; (iii) maintaining and publishing a register of members who hold practicing certificates; (iv) developing professional standards and rules of conduct; (v) operating an I&D system for its members; and (vi) appointing and removing members of the Institute in accordance with ICMAB’s regulations. Members of ICMAB are designated as Fellow Cost and Management Accountant or Associate Cost and Management Accountant. ICMAB is a mandatory membership body for cost and management accountants in Bangladesh. In addition to being an IFAC Member, ICMAB is a member of the South Asian Federation of Accountants and the Confederation of Asian and Pacific Accountants.