Can a Can CA in Full time Employment take COP ?
As per ICAI , answer is Yes !
Source : September 2010 Journal Page 18 > Know your Ethics. The portion is reproduced below
"Q. Can a member who is in part time/full time employment apply for Certificate of Practice and perform audit?
A. No, he cannot perform audit although he can apply for Certificate of Practice."
But, I dont understand the rationale behind taking COP while in employemnt.
Please share your views
Dude ..
Taking COP even if member is in employment is very beneficial. There are lots of professional work which you can't do if you are not holding COP e.g. Statutory Audit, Management Consultancy etc.
I have not read yet aforesaid issue. But if its true then its superb.
Awaits other valuable views.
CA in full time employment can hold a Part Time COP. But then he cannot perform the attest function, also he cannot train an articled clerk.
However CA holding Part time COP can apply for Firm name, he may get into partnership with other CAs.
As said he may perform and carry functions other than attest function, say consultancy, Outsourcing, Accouting etc through his firm name.
One of the benefits that i could find is that a Part Time COP holder can become a Partner in the firm, and also he can become the incharge of a particular branch. So if you are not getting any full time COP holder for opening a new branch in a different city, you may appoint a part time COP holder in your firm and start the branch.
cheers!!
MG
hi.....i am working as a full time employee in an audit firm.......can i take my cop?? and do tax audits seperately????
| Originally posted by : CA Manish Garg | ||
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CA in full time employment can hold a Part Time COP. But then he cannot perform the attest function, also he cannot train an articled clerk. However CA holding Part time COP can apply for Firm name, he may get into partnership with other CAs. As said he may perform and carry functions other than attest function, say consultancy, Outsourcing, Accouting etc through his firm name. One of the benefits that i could find is that a Part Time COP holder can become a Partner in the firm, and also he can become the incharge of a particular branch. So if you are not getting any full time COP holder for opening a new branch in a different city, you may appoint a part time COP holder in your firm and start the branch. cheers!! MG |
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Can anyone guide whether part-time COP holder be appointed as branch in-charge of a CA firm. If yes, then any specific guidelines in this context ?
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CA in full time employment can hold a Part Time COP but his functions would be limited. This is a new insight is great.
A partner with part time COP cannot be an incharge of a branch.
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