practice
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2010
can practicing CA serve anywhere else as an employee?
11 August 2010
A parttime practicener can serve employment also
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 August 2010
wats da diff between parttime and fulltime practice
13 August 2010
Members in Part-time practice
The Council at its 241st meeting decided that effective from 1.04.2005, any member in part-time practice
(namely, holding certificate of practice and is also engaging himself in any other business and/or
occupation) is not entitled to perform attest function, and that the resolution passed under Regulation
190A, which is currently in force and appears as Appendix 10 to the Chartered Accountants Regulations
1988 (Appendix No. 9 in 2002 Edition), be reviewed by the Executive Committee, in the light of the above
decision
The Council at its 242nd meeting noted the recommendations made to it by the Executive Committee
in this regard and accordingly passed the following resolution as a part of and in continuation of the
existing resolution under Regulation 190A which appears as Appendix no. 9 to the C.A. Regulations,
1988 (2002 edition)
IT IS FURTHER RESOLVED that the general and specific permission granted by the Council is
subject to the condition that -
i) any member engaged in any other business or occupation, in terms of general or specific
permission granted as per Appendix No. (9) shall not be entitled to perform any attest function
except in the following cases.
(a) Authorship of books and articles
(b) Holding of Life Assurance Agency License for the limited purpose of getting renewal
commission.
(c) Attending classes and appearing for any examination.
(d) Holding of public elective offices such as M.P., MLA & MLC.
(e) Honorary office-bearership of charitable, educational or other non-commercial
organizations.
(f) Acting as Notary Public, Justice of the Peace, Special Executive Magistrate and the like.
(g) Part-time tutorship under the Coaching Organisation of the Institute.
(h) Valuation of papers, acting as paper-setter, head-examiner or a moderator for an
examination.
(i) Editorship of professional journals - (not in employment)
(j) Acting as surveyor and Loss Assessor under the Insurance Act, 1938 (not in employment).
(k) Acting as Recovery consultant in the Banking Sector (not in employment)
(I) Any coaching assignment organized by the Institute, its Regional Councils and Branches of
Regional Councils.
(m) Engagement as Lecturer in an University, affiliated college, educational institution, coaching
organization, private tutorship, provided the direct teaching hours devoted to such activities
taken together do not exceed 25 hours a week.
(n) Engagement in any other business or occupation permitted by the Executive Committee
form time to time.
(ii) A member who is not entitled to perform attest function shall not be entitled to train articled/audit
assistants
(iii) The decision (of the Council) taken at its 223rd meeting held in February,2002 prescribing the
criteria for individual cases of articleship shall continue to be in operation, mutatis mutandis.
The Council in this connection also clarified that the Attest function for the purpose of this Resolution
would cover services pertaining to audit, review, certification, agreed upon procedures, and
compilation, as defined in the Framework of Statements on Standard Auditing Practices and
Guidance Notes on Related Services published in the July, 2001 issue of the Institute's Journal.
The Council at its 241st meeting decided that effective from 1.04.2005, any member in part-time practice
(namely, holding certificate of practice and is also engaging himself in any other business and/or
occupation) is not entitled to perform attest function, and that the resolution passed under Regulation
190A, which is currently in force and appears as Appendix 10 to the Chartered Accountants Regulations
1988 (Appendix No. 9 in 2002 Edition), be reviewed by the Executive Committee, in the light of the above
decision
The Council at its 242nd meeting noted the recommendations made to it by the Executive Committee
in this regard and accordingly passed the following resolution as a part of and in continuation of the
existing resolution under Regulation 190A which appears as Appendix no. 9 to the C.A. Regulations,
1988 (2002 edition)
IT IS FURTHER RESOLVED that the general and specific permission granted by the Council is
subject to the condition that -
i) any member engaged in any other business or occupation, in terms of general or specific
permission granted as per Appendix No. (9) shall not be entitled to perform any attest function
except in the following cases.
(a) Authorship of books and articles
(b) Holding of Life Assurance Agency License for the limited purpose of getting renewal
commission.
(c) Attending classes and appearing for any examination.
(d) Holding of public elective offices such as M.P., MLA & MLC.
(e) Honorary office-bearership of charitable, educational or other non-commercial
organizations.
(f) Acting as Notary Public, Justice of the Peace, Special Executive Magistrate and the like.
(g) Part-time tutorship under the Coaching Organisation of the Institute.
(h) Valuation of papers, acting as paper-setter, head-examiner or a moderator for an
examination.
(i) Editorship of professional journals - (not in employment)
(j) Acting as surveyor and Loss Assessor under the Insurance Act, 1938 (not in employment).
(k) Acting as Recovery consultant in the Banking Sector (not in employment)
(I) Any coaching assignment organized by the Institute, its Regional Councils and Branches of
Regional Councils.
(m) Engagement as Lecturer in an University, affiliated college, educational institution, coaching
organization, private tutorship, provided the direct teaching hours devoted to such activities
taken together do not exceed 25 hours a week.
(n) Engagement in any other business or occupation permitted by the Executive Committee
form time to time.
(ii) A member who is not entitled to perform attest function shall not be entitled to train articled/audit
assistants
(iii) The decision (of the Council) taken at its 223rd meeting held in February,2002 prescribing the
criteria for individual cases of articleship shall continue to be in operation, mutatis mutandis.
The Council in this connection also clarified that the Attest function for the purpose of this Resolution
would cover services pertaining to audit, review, certification, agreed upon procedures, and
compilation, as defined in the Framework of Statements on Standard Auditing Practices and
Guidance Notes on Related Services published in the July, 2001 issue of the Institute's Journal.
13 August 2010
A CA who is engaged in full time employment can hold COP for part time practice but can not take any attestation function i.e. Audit, Certification etc. So it is obvious that he can engage himself in Consultancy in respect of Accoutancy and Taxation works.
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