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Queries relating to certificate of practice

30 January 2016

I have one doubt regarding formation of Cost Accountant (ICAI CMA) firm in association with one Chartered Accountant. Earlier I thought that Its not possible to form firms with other professions (except via, LLP). But recently I have gone through the notification issued by ICAI Notification No. 1-CA(7)/116/ 2008 dated 25-9-2008, permitting CAs to enter into partnerships with non-CAs (CMA,CS etc). Can you please provide me a clear cut answer for my humble request.

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2 Replies

Sathish M (Management Accountant) (40581 Points)
Replied 30 January 2016

It is one of the recommendation for setting and working as a multi disciplinary firms, which is not approved by the 3 institutes. It is a proposal which is in abeyance for some time now, all the 3 institutes need to sit across and find out a viable mechanism without affecting the functioning of each of their independence.