Part time cop

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2013 I have taken full time COP. Now I have an offer for a job.Can it be possible to convert the full time COP to part time COP, if yes then what is the procedure for that? Whether part time COP holder open a proprietorship firm?

Ashwani Narnoli

Ashwani Narnoli (Expert)
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27 September 2013 You haave to intimate icai in respective form about your employment, then your full time cop will be automatically treated as part time cop. Besides this you can easily open your proprietorship firm, but before that read the ca regulations carefully.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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27 September 2013 Yes, the status of the COP can be changed from Full time to Part time or vice-versa.
You just have to send a letter of intimation to the institute...
You can check at ICAI online portal about the same..

However, Part time COP haven't much benefits,
You can only provide consultancy to clients but you can not perform Audits or attest function.

Alternatively, You can not sign as a Chartered Accountant on the reports..

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Ashwani Narnoli

Ashwani Narnoli (Expert)
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27 September 2013
Yes u have to be carefull while signing any reports in case of part time cop.