02 October 2010
Hi, I am a Chartered Accountant & employed with a MNC & want to have a certificate of practice from the Institute of Chartered Accountants of India. Can I have that? What is the procedure for that?
19 July 2024
As a Chartered Accountant (CA) working with an MNC, you have the option to obtain a Certificate of Practice (CoP) from the Institute of Chartered Accountants of India (ICAI). Here’s a brief outline of the procedure:
### Eligibility Criteria: 1. **Membership:** You must be a member of the ICAI in good standing. 2. **Experience Requirement:** Typically, ICAI requires CAs to have at least two years of post-qualification experience to be eligible for a CoP. This experience can be in employment or practice.
### Procedure to Obtain Certificate of Practice (CoP): 1. **Application Form:** Obtain the application form for CoP from the ICAI. This can usually be downloaded from the ICAI website or obtained from your regional branch.
2. **Documentation:** - **Proof of Membership:** Ensure your membership with ICAI is active and up to date. - **Experience Certificate:** Provide a certificate or letter from your employer(s) stating your employment details, including dates of employment and job responsibilities. - **Professional Indemnity Insurance:** Some regions or branches may require proof of professional indemnity insurance. Check with your local ICAI branch for specific requirements.
3. **Payment of Fees:** Pay the prescribed fees for the Certificate of Practice. Fees can vary based on the region or branch, so check with your local ICAI office for the exact amount.
4. **Submission:** Submit the completed application form along with the required documents and fees to your regional ICAI office.
5. **Verification and Approval:** The ICAI will verify your application, documents, and eligibility criteria. Upon verification and approval, you will be issued the Certificate of Practice.
### Responsibilities with CoP: - With a CoP, you are entitled to practice as a Chartered Accountant, either individually or in partnership with other CAs. - You must adhere to the guidelines, regulations, and ethical standards set by ICAI while practicing. - Renew your CoP periodically as per ICAI regulations.
### Conclusion: Obtaining a Certificate of Practice from ICAI allows you to practice as a Chartered Accountant independently or in partnership. Ensure you fulfill all eligibility criteria and follow the application process diligently. For specific details and forms, visit the official ICAI website or contact your regional ICAI branch.
CAclubindia
