Chartered Accountants are recognized and respected leaders in a wide range of business activities and sectors. The Institute of Chartered Accountants of India (ICAI), a statutory body established by an Act of Parliament, trains chartered accountants. A Chartered Accountant is qualified to provide advice to clients such as companies and individuals. A CA may also choose to practice independently. They can also apply for Chartered Accountant positions in existing firms. A qualified CA can work in either the public or private sectors. CA plays an important role in the firm in making quick decisions and profits.