Professional ethics

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Ankit Gupta (Querist)

28 January 2014 Is only a CA Who is in practice for more than 5 years can use FCA or a ca who is in job can also use FCA after 5 years.

Nikhil Kaushik

Nikhil Kaushik (Expert)

28 January 2014 the title of FCA is not automatic. You need to apply for the same upon satisfaction of certain conditions which are:

(a) Continuous practice within India for a period of not less than 5 years

or

(b) He has been an associate member for a continuous period of not less than 5 years and has been in government service or is ordinarily holding or has held for a continuous period of not less than 5 years any one or more posts carrying duties relating to accounts, cost accounts, audit, finance, taxation, company law and/or secretarial work in:

(i) an educational institution approved by the Council;

or (ii) a private or government, industrial, commercial or trading undertaking having a minimum paid - up capital of Rs. 25 lakhs or a minimum turnover of Rs.50 lakhs or a minimum
paid - up capital of Rs. 10 lakhs and a minimum turnover of Rs.30 lakhs or a minimum total assets of Rs.50 lakhs;

(iii) employed under a statutory authority;

or

(iv) employed under a local authority having within its jurisdiction a population of not less than 5 lakhs during each of the five years of his service.

(c) Continuous service for a period of not less than 5 years as a full - time paid assistant under a practising Chartered Accountant or in a firm of such Chartered Accountants.

You should get covered under B(ii).

Once you are covered in any of the above, you need to apply for registration as FCA in Form 3 with necessary declaration.

Please refer https://220.227.161.86/14459m_fellow.pdf

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