05 November 2013
I am ca final student and this is my 2nd year of articleship. Somewhere i heard about industrial training... Can someone clear what is all about industrial training and what are rules and regulations about it. Can i go for it.??
05 November 2013
Suhani,industrial training is an optional training that you can do in the last yr of your articleship.You need the consent of your principal to do indutrial training.If you choose a good company for indutrial training then it will be an added advantage.As you get to know the practical functioning of corporate world.But if you want to continue with a CA firm after you complete your CA then it will not add much value.
05 November 2013
List of companies offering Industrial Training
http://icai.org/post.html?post_id=823
For current vacancies: refer caclubindia articleship vacancy corner.
for regulations: Regulation 51
51. Industrial Training
(1) An articled assistant who has passed the Intermediate (Professional Competence Examination or Professional Education (Examination-II) or Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub- regulation (2) in any of the financial, commercial, industrial undertakings with minimum fixed assets or minimum total turnover or minimum paid-up share capital as may be specified by the Council or such other institution or organization as may be approved by the Council from time to time: PROVIDED that the articled assistant has intimated to his principal his intention to take such industrial training at least three months before the date on which such training is to commence.
(2) The period of industrial training may range between nine months and twelve months during the last year of the prescribed period of practical training.
(3) The industrial training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years shall be entitled to train one industrial trainee at a time and a fellow shall be entitled to train two industrial trainees at a time, whether such trainees be articled assistants or audit assistants.
(4) An agreement of training shall be entered into in the form approved by the Council.
(5) On satisfactory completion of the industrial training, the member training the industrial trainee, shall forthwith issue to the trainee a certificate in the form approved by the Council in respect of the training undergone under him and forward a copy thereof to the Secretary.
(6) The period of industrial training referred to under this regulation, shall be treated as service under articles for all purposes of these Regulations, provided the certificate referred to in sub-regulation (5) is produced.
For Forms: http://220.227.161.86/7508form104_std.pdf
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