Articleship

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Mahesh (Querist)
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24 June 2013 I have completed my 2years articleship on 2nd june,2013 but i havent passed group 2 of ipcc, can i take termination from the current principal for the sake of industrial training and then join later when i will be eligible i.e after passing group2 of ipcc, is their any time limit within which i should join industrial training after taking termination??
please do reply me

Ajay Mishra

Ajay Mishra (Expert)
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25 June 2013 Hi

ELIGIBILITY AND OTHER CONDITIONS FOR UNDERGOING INDUSTRIAL TRAINING

(i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination - II) or Intermediate examination can serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time.
(ii) Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence.
(iii) Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training.
(iv) The Industrial Training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time, whether
such trainees are articled assistants or audit assistants.
(v) An agreement of training is to be entered in the approved form i.e. Form No. 104
(vi) On satisfactory completion of industrial training, the principal has to issue service certificate in the approved form i.e. Form No. 105.
Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. Thus, for instance, the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier.
Industrial training may also expose the trainees to management accounting, cost accounting, management information system, EDP, etc. It also provides an opportunity to them to participate in the work relating to corporate laws, taxation and secretarial practice.

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Mahesh

Mahesh (Querist)
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26 June 2013 thanks sir, but my question is i have completed my 2 years articleship, now can i take termination and when my result come for ipcc group2, and when i pass and be eligible for industrial training i can join?

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