what is the role of sleeping partner in ca firm? I qualified in jan 2012 and have cop and estb. my own firm. whether i should accept the offer? what are financial aspects
4 Replies
divva
(Industrial Trainee @ Ashok Leyland)
(348 Points)
Replied 26 June 2012
Sleeping partner- Are mainly to show number of partners in firm Eg: bank audits & many client may prefer a firm based on number.
NISHANT SINGH
(senior accountant)
(57 Points)
Replied 26 June 2012
It is benefitial because you are newly qualified and audit work is given by org. On experiance.If you will became parter of old firm consisting 4-5 partner then you can apply for audit work.in this case pay 10% or 20 % to your firm and keep the balance.
NISHANT SINGH
(senior accountant)
(57 Points)
Replied 26 June 2012
If they take audit work on behalf of you,they will pay you.Both are benefited.
sapna bansal
(CA)
(31 Points)
Replied 29 June 2012
firm which i join as a sleeping partner will give me audit work or i have to provide work to them?. you are like to say that selling our cop?
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