Amarjit Chopra's statement on transfer ban relaxation

CA institute allows articled clerks to transfer between principals K.R. Srivats New Delhi, July 2 ------------------------------------------------ In a major flexibility for CA aspirants, the CA Institute, regulator of the chartered accountancy profession, has given articled clerks a choice to opt out of the existing arrangement with a principal during the first year of articleship. ------------------------------------------------- “Articled clerks can now transfer to another practicing chartered accountant in the first year. Earlier, there was a blanket ban and no transfer was permissible for all three years. -------------------------------------------- "Now, we are giving students an option to transfer in the first year. But for the second and third year, the restrictive clauses will continue to apply,” Mr Amarjit Chopra, ICAI President, told BusinessLine, here. ---------------------------------------------- An articled clerk is a trainee attached to a practicing chartered accountant. There is a deed of articles for the duration of three years. --------------------------------------------- Hitherto, CA students were unable to transfer to other firms even if the existing one did not suit his or her requirement. “Many occasions, students felt they had entered a wrong firm or there was no compatibility with the principal. But now the flexibility to transfer is being provided. ------------------------------------------ "This will benefit both the student and the principal,” Mr Chopra said. ------------------------------------------ https://www.thehindubusinessline.com/2010/07/03/stories/2010070351910400.htm