Audit query

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2013 Dear Sir,

Can a Full Time Employed CA can become a Partner in CA Partnership Firm.If yes,then Explain How,and if not then WHY not?

CA Vikas Acharya

CA Vikas Acharya (Expert)
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18 April 2013 to become a partner you need be in practice and have cop.
- clause 4 of part 1 of schedule 1
to do a full time job while being in practice
you need a specific permission from the council of icai.
- clause 9 of part 1 of schedule 1

without permission its unehtical, as no option of sleeping partner in ca.

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2013 THANKS FOR reply

But if He is a Full Time Employed,then Why Institute allow him to do Practice or GIVE him COP.

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CA Vikas Acharya

CA Vikas Acharya (Expert)
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18 April 2013 Yes you are right, it is allowed with specific permission, but practically institute don't allow the same.
and in case of part time work or part time practice, they may allow but after checking the timings etc.

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2013 okK!THANKS FOR YOUR RPLY