Regarding industrial training

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2013 Respected Sir
I want to go for industrial training in my final year of articleship and for that institute's consent is necessary,then how much time before should i take such consent and what will be the contents of consent to be obtained from institute? Shall i have to mention the company's name in the letter and what else??

Ajay Mishra

Ajay Mishra (Expert)
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28 August 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.

Querist : Anonymous

Querist : Anonymous (Querist)

30 August 2013 Sir but what about the consent??As per the rules before going for industrial training we have to take consent.Does taking consent means taking permission from the institute by the means of hand written letter before sending form 104?
And to whom I have to intimate 3 months before? My Present principal or the principal under whom i will be taking industrial training? Please clear my doubts.

Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2013 Sir please reply.

Ajay Mishra

Ajay Mishra (Expert)
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31 August 2013 Yes, you will take prior permission by submitting Form-109 with Institute as per regulation 51 of the CA Regulation, 1988.

With Form-109 you will submit covering for taking permission for going industrial training.

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