Description ,Application Form & Time Limit

1. Annual Membership and Related fees:

A) Becomes due and payable on 1 April of the year

B) Form ‘A’ or ‘A-1’ of the Fee Circular or using Payment Gateway of ECS. Time latest th by 30 September of the year.

C)If paid on or after 1 October names will be removed and restoration formalities to be observed.

2. Updating Entry on Record:

A) Sent along with Fee Circular for verification and confirmation of particulars given therein.

B) Should be returned duly verified and signed latest by 30 April supported by prescribed formats wherever applicable. If received after  30 April it will not be reflected in the List of Members.

C) Particulars in Entry on Record sent will be presumed a correct if no confirmation is received.

3. Earning CPE Hours:

A) All members holding COP may plan well in time to complete 90 CPE credit hours for the rolling period of three years starting from the year 2008 and minimum 20 CPE credit hours of structured learning in each year.

All members who are not holding COP or are residing abroad may plan to complete at least 45 CPE credit hours of structured / unstructured learning for the rolling period of 3 years starting from the year 2008 and minimum 10 CPE credit hours of structured/unstructured learning in each year.

B) Should get in touch with concerned regional council, branches and chapters for registration and attending CPE programmes.

C) On completion of each program member may verify the number of hours credited in his account by visiting the Also verify and confirm the same given in Entry on Record.

4. Grant of Certificate of Practice :

A) No member can practise unless he holds Certificate of Practice

B) Apply in Form ‘6’ along with Fee (Revised w.e.f. 1.4.2008) of Rs. 1,200/- for members of age 65 years and above and Rs. 1,600/- for members below 65 years.

C)Certificate of Practice will be granted from the date of receipt of Form ‘6’ complete in all respects.

5. Admission as Fellow:

A) An associate member who has completed 5 years of continuous practice and/or employment would be eligible for admission as a Fellow Member.

B)He may submit Form ‘3’ with prescribed fee. A member in employment is required to submit service certificate and Balance Sheet for the relevant period. He can also submit Form ‘6’ with COP fee if he intends to hold COP.

C)A member can submit Form ‘3’ and ‘6’ also relevant documents required for admission as Fellow even 30 days prior to the date of his eligibility for admission as a Fellow member.

6. Restoration of Name:

A) Member whose name has been removed from the Register of Members is eligible for Restoration of his name.

B) If removal is on account of non payment of fee by 30 th September, apply in Form ‘9’with membership fee for the current year and Restoration fee (revised w.e.f. 1.4.2008) of Rs. 1,000/- before 31 March for restoration of name retrospectively.

C)If the membership fee and Form ‘9’ is received on or after 1st April the name will be restored only prospectively with effect from the date of receipt of Form ‘9’ with requisite fees.

7. Restoration of Certificate of Practice:

A) Member whose certificate of practice has been cancelled is eligible for restoration of certificate of practice.

B)If cancellation of COP is on account of non payment of fee by 30 th September, apply in Form ‘101’ with COP fee for the current year before 31 st March for restoration of COP retrospectively.

C)If the COP fee is not received on or before 31 st March the member concerned has to apply for grant of fresh COP by submitting Form ‘6’ with the prescribed Membership and COP fee.

8. Change in Address:

A) Every member shall have a postal address of the professional address at the time of enrolment and shall intimate any change in the said address.

B)A written intimation duly signed giving the old as well as new address shall be submitted within 30 days from the date of change in the address.

C) Change in address shall be intimated then and there. Non intimation or delayed intimation will put the member to certain inconvenience like non receipt of Journal, News Letter and other communications from the Institute.

9. Permission for other engagement:

A) A member in practice is required to seek prior permission for engagement in any business or occupation other than profession of accountancy.

B) Within 30 days from the date of joining employment or occupation an intimation containing details thereof shall be submitted seeking permission. In the case of family business, Managing Director or whole time   Director; the member is required to file information in the prescribed form while seeking permission.

C)General permission is granted to the members to become Director Simplicitor in the companies i.e. to attend Board Meeting for which they will be entitled to only sitting fee and no remuneration. Specific permission is granted on case to case basis to be lecturer in a college subject to fulfilling certain conditions, teaching hours not exceeding 25 hours per week.

10. Joining / leaving employment in Industry:

A) A Member employed in Industry is also required to give details of his employment irrespective of whether he holds certificate of practice or not.

B) A member employed in industry may intimate the post held, the date of joining and the address of the employer within one month of such employment.

C) Institute is striving to maintain Industry-wise Data Bank with segmentation of the companies. This will help the Institute to organize specific training and development programs. Members may kindly return Annexure ‘D’ to Exhibit 2 of Fee Circular along with Entry on Record latest by 30 th April.

11. Joining / leaving as Paid Assistant:

A) Member whether holding certificate of practice or not can join as a Paid Assistant in a C.A. Firm or with a Chartered Accountant in practice

B) A written intimation and confirmation by the firm indicating the date of joining / leaving is required to be submitted within 30 days.

Member in practice working as a paid assistant cannot perform attest function and will be treated as a member in part-time practice.

12. Firm Name Approval:

A) Member holding certificate practice can practice in a trade/firm name with prior approval.

B) Apply in Form 117 to the Head office of the Institute for obtaining approval of trade /firm name as per the guidelines printed overleaf in the said form.

C) Name will be approved only from the date on which Form No. 117 has been received.

13. Registration of Firm:

A) A firm can be registered after getting approval of firm name.

B) Apply in Form 18 for registration of firm within 30 days of the approval of firm name.

C) Any subsequent change in the particulars of the firm shall be intimated by submitting Form 18 duly signed within 30 days from the date of such change.

14. Opening/closing of Branch Office, Change in Address of H O /B O :

A) Every change in the particulars of the firm has to be intimated to the concerned decentralised office.

B) A written intimation shall be made by the in charge of the firm or authorized partner within 30 days of such opening or closing of Branch or change in address.

C) Delay in submission of change in particulars of the firm will amount to breach of Regulation.

Note: For details please refer to the Chartered Accountants Act 1949 and the Chartered Accountants Regulations 1988.

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Category : CA, CS, CMA (3454)
Type : Articles (13961)
Tags : ICAI (2148)

0 responses to “ICAI guideline to members for regulator compliance with ICAI rules”

  1. Dhaval Desai says:

    Dear Sir,
    I Hav received your Comment on 16th June
    In this connection pls note that from now onwards all the articles posted on my blog from your website will have a source bearing your website and ready link shall be given towards your website.

    Further you also could also post articles from my blog in ur website on the same terms as mentioned above.

    and further i need to clear u that we dont have even a rupee benifit out of it what ever i am doing is to increase awareness regarding our field of practice among our CA Fraternity.

    hope the above terms are acceptable to you, if not please let me know, I shall drop all your post from my Blog.

    thanks & regards

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