03 March 2013
Sir, I am currently working as an article assistant in a ca firm from 01 september 12. I have cleared group 1 of Ipcc. I got myself registered for CS in August 2012. I did not fill the same in form 112. Now what should i do??
I will suggest you to take approval from Institute by filing Form-112, because your CS training and CA article ship may be clash in future. So to escape from this conflict you got the approval.
03 March 2013
PURSUANCE OF OTHER COURSE OF STUDIES With the permission of the Institute a student can pursue one course of study at a time. A student has to submit application in Form No.112 to the appropriate Regional Office of the Institute seeking permission to pursue other course of study within one month of joining the college/ course. The office shall grant permission within one month from the date of receipt of Form No.112. The students currently undergoing graduation or other course under general permission, which was given for the articled assistant to pursue graduation course, is withdrawn; therefore should obtain the permission within six months of issuance of new guidelines. The students shall, however, be permitted to complete the academic session/year currently undergoing and switch over to correspondence courses or institutions where no classes are conducted between 11.00 a.m. and 5.00 p.m. on any working day. The certificate portion in Form No.112 indicating college timings etc. shall be countersigned by the Principal of the college with the seal and stamp of the college and also indicating the telephone number and full address of the college. In the event of breach of these guidelines and not taking permission as required, the articles already undergone shall be derecognised for such period as the Institute may decide. In case an articled assistant is found not undergoing articles in the manner prescribed, he shall be debarred from appearing in the exam up to 3 consecutive exams besides cancellation of such period of articles. The concerned member who allowed him to be such an articled assistant be subject to punitive action besides withdrawing either partly or fully his eligibility to train articled assistant. In Peer Review, the Reviewer be required to verify whether training is imparted to the articled assistants in the manner prescribed.
03 March 2013
I mean i am late in filling 112 so wat would be the consequences . I ve heard it is something like derecognition of the articleship period. I am just registered for CS, i have not given any exams or not undergone any training.
03 March 2013
Didn't get you.. What i exactly want to know is what happens when there is delay in filling of form 112. If i file form 112 now i.e after 6 months of joining the course and after 6 months of joining articleship what will be the consequences?? Will my articleship period be not considered?? What actually can happen if i file form 112 now?
13 March 2013
Regulation 65 of the Chartered Accountants Regulations, 1988, reads as under. “Without the previous permission of the Council, obtained on application made in the approved form, no articled assistant shall, during the period of his service as an articled assistant, take any other course of study or training, whether academic or professional, or engage in any business or occupation.”
It has been noticed that the students/articled assistants have not been adhering to the requirements of the aforesaid Regulations while pursuing another course alongwith articleship and have been declaring such a fact while applying for enrolment as a Member of the Institute and seeking condonation for Breach of Regulation 65/78 for having not taken the permission at the appropriate time. The Executive Committee while considering such cases insisted that students/articled assistants to pursue only one course alongwith articleship, even that be a graduation course and seek permission of the Council by filing of Form 112 duly certified by the Principal i.e. Chartered Accountant and the Principal of the College concerned within 30 days of taking admission. The Executive Committee has further noted that the additional course(s) has / have been pursued by the students / articled assistants in violation of the provisions of Regulation 65 / 78 and directed that all requests be dealt with, in terms of the guidelines, provided herein below: Period of Delay Condition(s) to be complied with by the student for condonation of delay in filing of Form 112. Upto 1 year Condone the breach of Regulation 65 and enroll after three months from the date of the meeting at which a decision is taken for condonation. More than 1 year but Condone the breach of Regulation 65 and enroll after six upto 3 years months from the date meeting at which a decision is taken for condonation.
CAclubindia
