Whether to apply for cop or not

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2018 Dear friend,

I have completed my Finals in May 2018 and I am intending to join as a paid assistant in a CA firm. I want to know Whether I can hold a COP in such case. If No, please suggest me any other alternative (apart from partnership) through which I can hold COP by working in the said firm , Since I intend to set up my own Practising Firm in Future.

CA GUNJIT KAUR-FACULTY AT ICAI

CA GUNJIT KAUR-FACULTY AT ICAI (Expert)
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07 October 2018 Yes you can definitely hold COP along with being paid assistant but if you are appointed as full time assistnat then you will become part time holder of COP and you cannot sign audit reports independently in your own name.
SO if you want to practise full time, then you cannot do it simultaneously with being a full time paid assistant.
I would suggest you to get exposure as a paid assistant first since you have just qualified and we have got much much more to learn before starting our practice.
After exposure of about a year or so , you can definitely go for your own practice.