03 August 2010
Is it allowed for a chartered accountant to enter into partnership with Company Secretary,or C.W.A or Advocate.. ?? I heard that now it is allowed to enter into a multidisciplinary service providing partnership between C.A, C.S, C.W.A, or Advocate. Is there any amendment about this..?? Please guide me or give me some source or reference to know about the issue..
03 August 2010
According as per my knowledge ICAI not allows LLP with other professionals. CA can enter in to CA Firm(partnership) only with CAs not CWA & CS.
03 August 2010
Also in the monthly journal the president has stated the following: Chartered Accountants (Amendment) Bill, 2010
Members may be aware that in order to enable members of the Institute to practise through a new business vehicle i.e. Limited Liability Partnership, consequential amendments in the Chartered Accountants Act, 1949, arising out of the Limited Liability Partnership Act, 2008 became necessary. Accordingly, the inputs of the Institute were called for and also submitted to the Central Government in relation to the amendments that were considered appropriate, followed by oral discussions, specific to the consequential amendments, arising out of Limited Liability Partnership Act, 2008.
Thereafter, the Central Government introduced in Rajya Sabha on 28th April, 2010 the Chartered Accountants (Amendment) Bill, 2010, along with two other Bills namely, the Cost and Works Accountants (Amendment) Bill, 2010 and the Company Secretaries (Amendment) Bill, 2010 pertaining to the sister Institutes. The Rajya Sabha, on consideration, referred the Bill to the Parliamentary Standing Committee on Finance for its examination.
It is pertinent to mention that the Cost and Works Accountants (Amendment) Bill, 2010 however inter alia contained a proposal regarding change of its name from the Cost and Works Accountants of India (ICWAI) to the Cost and Management Accountants of India (ICMAI), which in no way whatsoever relates to the amendments necessitated by the LLP Act.
The Institute was invited to make its submission before the said Parliamentary Standing Committee on 7th July, 2010 and accordingly, suitable presentation/submissions were made by the undersigned along with the Vice President, CA. G. Ramaswamy and the Chairman of the Corporate Laws and Corporate Governance Committee, CA. S. Santhanakrishnan. While submitting our viewpoints on the proposed amendments, arising out of the LLP Act, we have also expressed our concerns over the proposal for change of name of ICWAI to ICMAI. We are actively following up on the matter.
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