law: Cost and Works Accountants Act, 1959 
  5. Fellows and associates 
  (1) The members of the Institute shall be
  
  divided into two classes designated respectively as associates and fellows.
  (2) Any person other than a person to whom the
  
  provisions of sub-section (3) apply shall, on his name being entered in the
  
  Register, be deemed to have become an associate member of the Institute and so
  
  long as his name remains so entered, shall be entitled to use the letters AICWA
  
  after his name to indicate that he is an associate member of the Institute of
  
  Cost and Works Accountants.
  (3) Any person who was a fellow of the
  
  dissolved company and who is entitled to have his name entered in the Register
  
  under clause (i) of sub-section (1) of section 4, shall be entered in the
  
  Register as a fellow of the Institute.
  (4) A member, being an associate who has been
  
  in continuous practice in India for at least five years, whether before or
  
  after the commencement of this Act, or whether partly before and partly after
  
  the commencement of this Act, and a member who has been an associate for a
  
  continuous period of not less than five years and who possesses such
  
  qualifications as the Council may prescribe with a view to ensuring that he has
  
  experience equivalent to the experience normally acquired as a result of
  
  continuous practice for a period of five years as a cost accountant shall, on
  
  payment of the prescribed entrance fee, which shall not exceed rupees two
  
  hundred in any case, and on application made and granted in the prescribed
  
  manner, be entered in the Register as a fellow of the Institute.
  Explanation I: For the purposes of
  
  this sub-section, a person shall be deemed to have practiced in India for any period
  
  for which he has held a certificate of practice under section 6,
  
  notwithstanding that he did not actually practice during that period.
  Explanation II: In computing the
  
  continuous period during which a person has been an associate of the Institute,
  
  there shall be included any continuous period during which the person has been
  
  an associate of the dissolved company immediately before he became an associate
  
  of the Institute.
  (5) Any person whose name is entered in the
  
  Register as a fellow of the Institute and so long as his name remains so
  
  entered, shall be entitled to use the letter FICWA after his name to indicate 
  
  that he is a fellow of the Institute of Cost and Works Accountants.