ICAI notifies Revised Form 18 to facilitate formation of Multi-disciplinary Partnership Firm of CAs in Practice



Quick Summary
The Institute of Chartered Accountants of India (ICAI) has announced a Revised Form 18. This update, stemming from the Chartered Accountants (Amendment) Regulations, 2021, is designed to make it easier for Chartered Accountants in practice to establish Multi-disciplinary Partnership Firms. The revised form replaces the previous Form 18 within the Chartered Accountants Regulations, 1988.

The Institute of Chartered Accountants of India, with regard to the Chartered Accountants (Amendment) Regulations, 2021 dated 8th July 2021, has notified a  Revised Form 18 to facilitate the formation of Multi-disciplinary Partnership Firm of CAs in Practice. Read the official announcement below:

The Institute of Chartered Accountants of India
13th August, 2021

Announcement

Sub: Chartered Accountants (Amendment) Regulations, 2021 dated July 8, 2021

This has reference to the Notification No. 1-CA(7)/197/2021 dated July 08, 2021 published in the Gazette of India regarding the Chartered Accountants (Amendment) Regulations, 2021. Pursuant to these amendment Regulations, in the Chartered Accountants Regulations, 1988, in Schedule “A”, the existing Form 18 has been replaced by Revised Form 18 to facilitate formation of Multi-disciplinary Partnership Firm of Chartered Accountants in Practice.

In this regard, reference may be made to below cited documents:

ICAI Revised Form 18 for Multi-disciplinary CA Firms
  1. The Chartered Accountants (Amendment) Regulations, 2021 dated July 08, 2021
  2. Guidelines for Formation of Multi-disciplinary Partnership as per the Chartered Accountants Act, 1949
  3. Frequently Asked Questions (FAQs) on Multi-disciplinary Partnership Firm of Chartered Accountants in Practice (MDP CAs in Practice)

FAQ :

The Revised Form 18 has been introduced to facilitate the formation of Multi-disciplinary Partnership Firms for Chartered Accountants in practice.

The Revised Form 18 was notified pursuant to the Chartered Accountants (Amendment) Regulations, 2021, dated July 8, 2021.

The Revised Form 18 has replaced the existing Form 18 in Schedule 'A' of the Chartered Accountants Regulations, 1988.

This revision is intended for Chartered Accountants in practice who wish to form Multi-disciplinary Partnership Firms.

The Chartered Accountants (Amendment) Regulations, 2021, were dated July 8, 2021.




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