Hi All, My friend is A Chartered Accountant in practice as a Proprietor since last 3 years and he is having a trade name registered with ICAI. Recently I had joined him as a partner without changing the trade name registered with ICAI. My question is if we want to change the trade name now then whether our existing firm with old FRN will get continued or we will get new firm name with new FRN?? Whether my partners proprietorship experience of 3 years will get continued in new firm?? Whether the Experience will count for bank audit empanelment under Partnership Firm?? Kindly suggest me whether I should change my firm name or not?
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Quick Summary
A chartered accountant firm, initially a proprietorship, has recently taken on a partner. The core question is about changing the firm's registered trade name. The discussion clarifies that changing the name typically does not affect the existing Firm Registration Number (FRN) or the proprietor's previous experience. This experience is also confirmed to count towards bank audit empanelment under a partnership structure. Some suggest a merger approach to ensure continuity before a name change.
You should go with merger root, so that your firm experience will not be affected. After Your merger is successful then you change the name. It will not affect your experience. You can m s g me for further details.