Chartered accountant in practice as a director
This query is : Resolved
08 December 2014
Can a Practicing Chartered Accountant be a Director in a company? If yes, Can he be a whole time director and take part in day-to-day activities of the company? Can he be remunerated for the same?
08 December 2014
1) Yes.
2) Can't be a WTD. Instead can be a 'director simplicitor'.
3) Can't be remunerated.
2) Can't be a WTD. Instead can be a 'director simplicitor'.
3) Can't be remunerated.
08 December 2014
Yes. a member in practice is permitted generally to be a Director Simplicitor in a company provided he is not a Managing Director or Wholetime Director and is required only in the Board Meetings of the company and not paid any remuneration except for attending such meetings.
Yes. a member in practice is permitted generally to be a Director Simplicitor in a company provided he is not a Managing Director or Wholetime Director and is required only in the Board Meetings of the company and not paid any remuneration except for attending such meetings.
09 December 2014
he can appoint the director ,but he cannot take MD seat and not to take remuneration.
10 December 2014
moreover, he/She has to give this information to ICAI in the matter of such appointment
10 December 2014
only earning what is allowed is sitting fees for attending meetings
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