Are CA Students allowed to undergo Articleship Training in a Company?
The Chartered Accountancy course has been designed in such a manner that a Student obtains not only theoretical knowledge but also working knowledge in all aspects related to Chartered Accountancy. To obtain a Chartered Accountant Degree, a student has to mandatorily undergo 3 years of Articleship Training under a Member registered with the Institute.
To increase the exposure a student gets during the Training Period, CA students are allowed to get trained in Company’s operating in the Industry. A CA Student can register under a CA working in a Company and continue his Articleship under that CA. This training pursued in a company will form a part of Articleship Training undertaken by the Student.
However, Articleship Training can be undertaken only during the last 1 year of Articleship and the period of Articleship Training shall be a minimum of 9 Months and a maximum of 12 Months.
(Please Note: – Although Transfer during the Articleship Period are allowed only during the 1st year and not in the 2nd and 3rd year, a student is allowed to take transfer in the 3rd year for the purpose of Industrial Training only)
Industrial training can be performed in Financial, Commercial, Industrial undertakings with
- Minimum Fixed Assets of 1 crore; or
- Minimum total turnover of10 crore; or
- Minimum paid–up share capital of50 lakhs; or
- Such other institutions or organization as may be approved by the Council from time to time
A Chartered Accountant who has been a member of the Institute for a continuous period of at least 3 years shall be entitled to train 1 Industrial Trainee at a time and a Chartered Accountant who has been a member of the Institute for a period of more than 5 years shall be entitled to train a maximum of 2 Industrial Trainees at a time.
There should be a agreement between the Industrial Trainee and the Company employing such trainee and such agreement shall be submitted to the Institute in Form No. 104. On successful completion of Industrial Trainee, the Company shall issue a Certificate signed by the Chartered Accountant under whom the Training has been undertaken in Form No. 105 and such Certificate shall also be submitted to the Institute.
The list of Companies registered with ICAI is listed below. If a company is not registered but meets the above eligibility criteria you can get the company registered with ICAI and pursue your training in that company.