Articleship Help

Articleship 2278 views 12 replies

Kunwar K Khurana

Chartered Accountant

112 Points Joined February 2011

Hello,

I recently cleared my interview in Grant Thornton and got offered a position as an article.

The HR Manager there said that they were running a little low on articleship registration seats and told me to get registered with another article, after which he would give me a loanstaff agreement which i would have to get signed by the firm i get registered under.

I would work for Grant Thornton and get paid by them, and also get the experience certificate from them but would be registered as an article under the original firm.

Now ive asked around and come to know that this is a common practice and many big firms do it.

But i still want to confirm if it is right and whether there is any possibility that it would adversely affect me in the future.

Also, please provide the link to any post by icai authorizing loan of articles by one firm from another if possible.

Regards

Kunwar Khurana

Replies (12)

Kunwar K Khurana

Chartered Accountant

112 Points Joined February 2011

Please do reply.

Kunwar K Khurana

Chartered Accountant

112 Points Joined February 2011

Please Reply yaar

Kunwar K Khurana

Chartered Accountant

112 Points Joined February 2011

Someone plz help me out with this.

Rohtash

CA - Final / CS / B.Com

1140 Points Joined November 2009

Hey dear I m working in a big 4 as same.. Thats like the partners of GT, as a firm have a limit of audits so thats y u get that..

Sasidhar Aruljothi

C.A FINAL

187 Points Joined October 2009

Hey pal i have heard of it at many places. it is a common pratise. U would be working for your firm under a diff name. it is common. Don think it would have any adverse effects. Have not heard of any till date (touchwood).

Also, please provide the link to any post by icai authorizing loan of articles by one firm from another if possible.

Reg the authorization, i have no idea.

dinesh agrawal

apprentice

27 Points Joined October 2009

Hi, i am about to complete my articleship of 3 and half year this month. But i have some excess leaves. And i don't want to continue under my current principle. I want to know the peocedure for the same.

deepak

CA final Article assistant

28 Points Joined April 2010

how u manage to submit your cv they said no for the hardcopy of cv

and told to apply through the website

anyways GT is a good co. u should join it i mam aslo

looking for the Gt

CA Yatin Bansal

ACA B.com CS(Inter)

196 Points Joined November 2010

Hi kunwar how u managed to get in grant thornton.... Plz help i am also trying to get there... How did u manage to get a n interview call from there. Please help me in this regard

Siddharth

Get Digital Signature Certificates (DSC)

672 Points Joined January 2009

I am not quite understanding the loanstaff agreement thing.. Maybe you mean to say secondment of articles or simply they're asking you to bring more articles either by transfer or new registration? Can't help on that, either find some pals or say you can't do it..

Now regarding registration under another firm, I don't think GT has the license to operate as an audit firm, so they get it done by their Indian affiliates like: Walker Chandiok, etc. You maybe registered under some partner there, or it may also be possible that they have arrangements with other firms/ CAs to register trainees and GT might be the ones actually employing them.

It seems a fine deal to me, and you should go for this opportunity as GT tag will indeed add to your profile. Now that's my opinion, you may consult the teachers where you used to take classes.

Sasidhar Aruljothi

C.A FINAL

187 Points Joined October 2009

Dinesh,

File form 108, you can do the extension anywhere u wish. it is not like u have to stay with your current auditor. Extension is a fresh agreement which can be entered into with either the same or some other auditor.

File form 107 with the instiute for commencing the xtension.

Mayank Mahuley

Financial Consultant

47 Points Joined June 2010

(Regulation 54)

1.	A Principal may, with the consent of the articled clerk, second from time to time the articled clerk to other member or members with a view to provide the articled clerk the opportunity of gaining practical experience in areas where the Principal may not be in a position to provide the same.
2.	The articled clerk shall be seconded only to a member who is entitled to train one or more articled clerks in his own right or to a member in industry who is entitled to train one or more industrial trainees.
3.	The member to whom the articled clerk is seconded will not be entitled to train more than two such clerks on secondment at a time.
4.	The aggregate period of secondment shall not exceed one year provided that the period served on secondement with any one member or his partner shall not exceed six months.
5.	Where an articled clerk is seconded to a member in industry, the total period spent in industry by the articled clerk including the period of industrial training under Chartered Accountants Regulations, shall not exceed one year.
6.	During the period of secondment, the Principal shall pay the stipend as provided under Chartered Accountants Regulations.
7.	The Principal shall keep a record of the traininig undergone during secondment and include its particulars in the report to the Council under Regulation 64.
8.	No deed