Would any one please tell me about “Industrial Training”.
-
What are its requirements?
-
Eligibility
-
Duration
industrial training
Smruti (CA) (183 Points)
09 December 2010
1 Replies
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 09 December 2010
21. Who is eligible for undergoing industrial training?
A student who has passed Intermediate/Professional Education (Examination –
II)/Professional Competence Examination and is serving last 12 months of his articled training.
22. Whether any notice in writing is required to the Principal before joining
Industrial Training?
Yes, an articled assistant has to intimate his principal regarding his intention to take such
industrial training at least three months before the date on which such training is to commence.
23. What is the maximum and minimum period of industrial training?
A student of Final Course can undergo industrial training for a maximum period of one
year and minimum period of 9 months, i.e. the period may range between 9 months and 1
year.
24. Who is eligible to provide industrial training to an articled assistant and
which are the required forms to be filled up?
An articled assistant can take industrial training under a member of the Institute. An
associate who has been a member for a continuous period of at least 3 years shall be
entitled to train one industrial trainee at a time and a Fellow member shall be entitled to
train two industrial trainees at a time. There should be an agreement of industrial training
in Form No.104 which will be submitted to the concerned decentralised office within 30
days of the commencement of training. On satisfactory completion of industrial training
by an articled / audit assistant, the Associate / Fellow member under whom the industrial
training is received shall issue a certificate in Form No.105 in respect of the training
undergone and to be submitted to the concerned decentralised office within 30 days of
the completion of training. It is required to maintain details of work undertaken and
training received in the prescribed format.
25. Whether a student can join any financial, commercial, industrial
undertakings of his choice?
Yes, but such an organization must be duly approved by the Institute of Chartered
Accountants of India.
26. Which industrial undertaking is eligible for providing industrial training and
where such an organization can apply?
Any financial, commercial, industrial undertakings with minimum fixed assets of Rs.1
crore; or minimum total turnover or minimum paid–up share capital or such other
institutions or organization as may be approved by the Council. Such organizations may
apply alongwith copies of Annual Report, balance sheets etc. to the decentralized
Regional Office depending upon the jurisdiction of the Office. After scrutiny of relevant
documents, the regional head may approve the name of such an organization to be
included in the list of industries being maintained by the decentralized regional offices.
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