 As well as education, it is also engaged in regulating and promoting the profession of cost and management accountant in Bangladesh.In 1972, the Institute was re-established in the name of Bangladesh Institute of Industrial Accountants again.The Government of Bangladesh renamed it as The Institute of Cost and Management Accountants of Bangladesh through promulgation of The Cost and Management Accountants Ordinance 1977 (Ordinance No LIII of 1977).