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Industrial training

Nandhu S (Article Assistant) (29 Points)

04 July 2013

I have registered for my articleship on 21-11-2011 and i termintaed from 09-11-2012 and I rejoined on another firm on 19-11-2012 and I got a letter from the Institute that I have to do 17 days of extension and now i want to do Industrial Training in the Final year. Is it possible?....If so what will be my due date. Can i serve my extension period as an Industrial trainee..Please give me proper reply

Thanks and regards

NANDHU S

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3 Replies

Ajay Mishra (Company Secretary) (74337 Points)
Replied 04 July 2013

I will suggest you to firstly complete 17 days extended artile ship then start Indutrial Training.

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Ajay Mishra (Company Secretary) (74337 Points)
Replied 04 July 2013

ELIGIBILITY AND OTHER CONDITIONS FOR UNDERGOING INDUSTRIAL TRAINING

(i) An articled assistant who has passed the Integrated Professional Competence Examination / Professional Competence Examination/ Professional Education (Examination - II) or Intermediate examination can serve as an Industrial trainee in any of the financial, commercial, industrial undertakings as may specified by the Council or such other institution or organization as may be approved by the Council from time to time.

(ii) Articled assistant before proceeding for Industrial Training has to intimate his principal at least three months before the date on which such training has to commence.

(iii) Minimum period of Industrial Training may range between nine months and twelve months during the last year of prescribed period of practical training.

(iv) The Industrial Training shall be received under a member of the Institute. An Associate who has been a member for a continuous period of at least three years is entitled to train one industrial trainee and fellow is entitled train two industrial trainee at a time, whether

such trainees are articled assistants or audit assistants.

(v) An agreement of training is to be entered in the approved form i.e. Form No. 104

(vi) On satisfactory completion of industrial training, the principal has to issue service certificate in the approved form i.e. Form No. 105.

Industrial training also offers an opportunity to the trainees to take part in specialised accounting exercises. Thus, for instance, the closing of accounts provides an opportunity for them to acquire the skills necessary as a concomitant to the theoretical knowledge which they have acquired earlier.

Industrial training may also expose the trainees to management accounting, cost accounting, management information system, EDP, etc. It also provides an opportunity to them to participate in the work relating to corporate laws, taxation and secretarial practice.