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Articleship: Certain Rules
1) Holiday 2) Leave Leaves that are Part of Articleship Leaves for Exams of ICAI 2)(A) Excess Leave 3) Working Hours / Timing of Work Procedure to Set Off Excess Hours Worked 4) Using Articles for other work 5) Clarifications … Continue reading
So that means a person already working in the industry for suppose a Software Engineer cannot do a CA course because he cant work as articled clerk? Please confirm.
The Articleship training is mandatory for doing CA. Under the rules as on date:
1) You have to pass CPT (Objective Type)
2) then after six months appear for IPCC (4 papers).
3) In between you have to undergo a 100 hours Computer training.
4) Then enroll as Articled Assistant for three years with any CA in Practice. The last year of training can be done as Industrial Training under a CA – there are rules even in that of what kind of company can one take such industrial training based on Turnover and Assets
5) Then while doing Articleship pass the Group 2 of the IPCC consisting of three papers.
6) Then if you have ‘survived’ all these, then you become eligible to appear in CA Final exam!
Also, if one has signed on for Articleship, one cannot be in any full time or part time job. There are even regulations, that while doing articleship, one cannot be an active partner of any firm or even become partner in any new venture. An Articled Assistant cannot also become Director of any Company!
Infact even in sister disciplines like CWA (Cost Works Accountant) one has to do three years of articleship training in a prescribed industry / company. But in CWA you can get exemption / set-off for practical training, if you are employed in similar function in some organisation. CS also provides for such set off for its 15 months management training.
However in CA there is no set off available for Articleship and articleship is compulsory even if you have spent your life in accounting or finance or tax field!
If you are software engineer working in industry and having some experience in finance domain, I would suggest you do CISA / Computer System Security or even SAP FICO which are quite in demand.
You can also consult the link for finance related courses.
I heard that a day of outstation audit is equivalent to 1.5 days of regular audit days… is this true? because I go on outstation audits regularly and if I am eligible then this rule could help
There is no such rule. Most of the rules are stated in the Training Guide issued by ICAI. This can be downloaded from Training Guide Page.
There is only one rule as given in the article point 3) Timing of Work http://indiapoint.net/ca/2008/10/31/articleship-certain-rules/#toc-3-timing-of-work.
(For sometime in 2007-08 ICAI had increased hours of articleship training per week, but now Articleship duration per week is restricted as before to 35 hours. )
Also, in my experience having worked under three principals – compensatory leave is really a matter of discretion left on to the Principals – particularly when it relates to compensating the Articled Assistant for outstation audits.
After-all, even if its outstation audit, you are supposed to work only during the office hours of the clients (around 6 hours per day for 6 day week).
Over and above that its really between you and your principal – if your Principal accepts 35/45 rule – good for you else there is not much that you can do!
I can’t understand about industrial training!
Is there are any special rules for joining industrial training? What are they?
Is it possible for transfer of articleship in industrial training?
Before replying to your query, I would clarify that I did not opt for industrial training – as I felt that it would require unnecessary paper-works.
Now coming to your question – In a three year articleship period – industrial training can be done in the final year of training. Also, only a student of CA Final can undertake industrial training.
I had once sent query to ICAI whether one could take transfer during industrial training from one company to another -the query was never replied – perhaps ICAI has no rule in this regard – or such transfer cannot be taken. In recent times – the transfer regime is anyway really tough!
Other questions quoted from ICAI FAQ:
——————————————-
Also you may refer to list of companies already registered / approved for industrial training with ICAI from this link
Another piece of advice – always be on lookout for the latest rules that ICAI may frame in this regards – as ICAI keeps on changing rules of training quite frequently.
Information provided of BIG FOUR is very good guideline for CA students.
Sir,
i want to change my articleship training from my present principal to some other principal. i am unable to find the current rules for changing my articleship.I stay in Chennai and i want to continue my articleship training in chennai only. Can i do it?
and i want to know about the stipent eligible for a student who has completed 2 years of training and has also cleared PCE Exams.
Given the current changes in articleship transfer rules, your case seems quite difficult. However since you are in Chennai, you can also visit SIRC to see if anything can be done.
Other details regarding articleship transfer you can find in my comment in this link
The stipend for Articled Assistants currently is governed by ICAI notification: Articleship Stipend Notification. The other details relating to stipend you will get in the article written above.
I am working as Assistant Audit Officer (Commercial Audit) in Indian Audit & Accounts Department (under Comptroller & Auditor-General of India). We do supplementary audit of State/Central PSUs u/s.619 of Companies Act, 1956. Can we get exemption from mandatory articleship training for doing CA course. What we have to get exemption?
I am working as Assistant Audit Officer (Commercial Audit) in the Indian Audit and Accounts Department under Comptroller & Auditor General of India. We do supplementary audit of State/Central PSUs u/s.619 of the Companies Act, 1956. Whether this profile/practical experience in audit is considered for granting exemption from undergoing articleship training for CA examination. If no, what is your suggestion, for getting exemption from ICAI.?
ICAI does not give any exemption whether it be articleship training or exam papers.
It gives exemption to candidates holding similar qualification from foreign sister bodies with which it has MoU eg. CA from UK / Australia etc would get exemption from practical training and certain paper if s/he fulfills certain conditions.
Other than this it gives no exemption ! Also for doing Articleship you cannot be a full time employee anywhere else! This rule basically translates that if you want to do articleship you will have to resign from service!
In your case I would suggest go for CWA (Cost and Works Accountant) administered by ICWAI. Under its new scheme – it also requires three years practical training – but those working in specified organisations are exempt from practical training – this includes central govt. organisations. For this you can check out ICWAI link.
The CWAs are also authorised under certain Acts to do Audit – like the Central Excise Act, VAT Act of certain States etc. However they cannot do Tax audit or Statutory Audit.
Apart from that you can do AICPA (CA of USA), Certified Internal Auditor and CISA. All these courses are administered from US. You can also check out finance accounts related courses. I guess that for doing CPA no training is required – however it does not have recognition in India – though it is much valued in foreign countries like in Middle East, SE Asia etc.
My suggestion would be that go for CWA. It is equally valuable in India – and would also count as a professional qualification in your service career. Apart from this, I guess that you must also be having Departmental Promotion schemes that is useful for accelerated promotions. Good Luck!
Your another option is CS (Company Secretaryship). But this is more on the legal side of corporate matters.
In this there is fifteen months practical training – but exemptions are available. Exemptions are also available for exam papers.
More details can be seen at the ICSI website
I am also working as an Assistant Audit Officer (Commercial Audit)in Indian Audit & Accounts Department (under Comptroller & Auditor-General of India) for eleven years now. I had passed the Department Examination viz., Section Officers Grade Examination (Subordinate Accounts Service Examination) and Revenue Audit Examination. I have M.Com., M.B.A.in Finance (from IGNOU) and CIA from the IIA, USA. At present, I am preparing for CISA (ISACA, USA) and CFE (USA).
At present, there is stagnation in my department and there is very little possibility to go up….
With these qualifications and experience in various types of audit in PSUs and of course my age (39 years), can I get opening in Private Sectors especially in Big Fours?
What may be useful is your experience in audit, and the CIA (IIA) qualification. Other qualifications like MBA (Ignou) may not be of much use. CISA / CFE is useful only if you have exposure in such works. CFE is definitely in demand with Big 4.
Also experience in Audit of PSU would be useful if that included sector specific ‘brand’ names. Usually what counts with experience is sector specific expertise and also knowledge of accounting standards / IFRS, and in audit of MNCs matters like knowledge of SOX is definitely useful – and all these apart from certain taxation matters like Transfer Pricing etc.
I would add that in matters of audit in private sector in India – it is the CAs who are the bosses – as they are statutorily given the powers to sign various kinds of audit reports. (you can compare a CA who is partner of audit firm as your IAAS officer! – the private sector is even more hierarchical – but they do have fancy designations!) Without the CA qualification in private sector your career progression would (in the audit sphere) most likely fit in the internal audit work.
Bigger Audit firms have much work in the area of internal audit. Also, more than in India (which is a heavily administered nation) such internal audit work is also very much in demand in Gulf countries and elsewhere.
Also its not just the Big4 / Consultancy / Audit firms, but also Big Private companies who have their own internal audit departments (like Reliance etc) – you can also keep such options open.
I would definitely say that you should give it a try. Get some good placement consultant to advice you on this matter. And if you are ready to take risk and willing to fit in the private sector corporate culture – then you set your own limits of success.
Please clarify as to what is the meaning of “actually served”. Does this also include the Saturday / Sunday off as well for the purpose of this Act / Notification. Does the 1095 calculated days mean actually served days (inclusive of weekend offs)? Clarity on the above would be very helpful.
Thanks
Anindita Kharoo
The concept is actually that of ‘earned leave’. For every 6 days of work, the article earns one day leave. Consequently, he is deemed to have worked 7 days. So in a week, he would be considered to have worked even on a Sunday – even thought that is a holiday.
Simply stated, where the word used is “Holiday” / “Weekly Off” (the latter term is not used by ICAI) – it is deemed that the article has worked on those day. The word “actually served” therefore includes holidays. For that matter, if in a week, there are three holidays – it is deemed that the trainee has worked on those days – and they would be counted as part of “period actually served”.
However with the same logic, if the article takes a continuous leave of 40 days – then all Sundays and other holidays falling during those 40 days of leave would be considered part of “leave”. So the period one is on leave he does not earn any leave.
Hi Anup,
i would like to quote an example from tha training guide of ICAI:
Case I Days
A. Total number of days served (365×3) 1095
B. Less: Total leave taken (other than weekly holidays) 188
C. Actual Period served 907
D. Entitlement of leave (1/6th of the actual period served) (907/6) 151
EXCESS LEAVE: (B – D) 37
In this example here part B. which is 188 days doesnt include weekly holidays. So technically speaking, what we earlier said is incorrect as we included weekly holidays in those leaves taken.
What is your say on this!!
A detailed clarification would really help me in this case.
Thanks again
AK
As I wrote in my previous reply, “actually served” includes holidays. However if the leave is a longer period, then the leave period would include holidays.
If you are on leave for say 40 days continuous and in between there are 6 Sundays, and 3 Gazetted Holidays – can you say that you took leave for 31 days and were on work on those 9 days of holidays?
If you still have confusion – I would suggest write an email to Deputy Secy of your Regional Council.
SIR,
I want to do industrial Training.However I am running short of 9 days for the minimum period of 9 months.What shall I do now?? Plzz reply urgently its serious.
There is nothing much you can do – except request your principal to release you with 9 or 10 days backdated – so that you still remain eligible for the industrial training.
(As per rules you need to intimate in writing to the Principal one month in advance of your intention of going for Industrial Training – however, since the time frame has passed – the discretion is now in Principals hand – otherwise – no one can deny request for termination for going on industrial training)
I understand, that the termination letter has to reach within one month of issue of the letter. So you can still ‘manage’! (However do check out this if the institute has updated / reduced the time frame)