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CA student get articleship training in the World Bank as it has not been mentioned in the list prescribed by ICAI?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Anju asked about 3 years ago

How did a CA student get articleship training in the World Bank as it has not been mentioned in the list prescribed by ICAI?

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered about 3 years ago

We are of aware of the fact that in India, that an articled clerk who has passed the Professional Education (Examination - II) or the Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) in any of the financial, commercial, industrial undertakings with 1) Minimum fixed assets of Rs. 1 crore; or 2) Minimum total turnover of Rs. 10 crores; or 3) Minimum paid-up share capital Rs. 50 lakhs

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Open uri20170510 32134 1ue0f38?1494421710 rohit agarwal answered about 3 years ago

Hi Anju, We are of aware of the fact that in India, that an articled clerk who has passed the Professional Education (Examination - II) or the Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) in any of the financial, commercial, industrial undertakings with 1) Minimum fixed assets of Rs. 1 crore; or 2) Minimum total turnover of Rs. 10 crores; or 3) Minimum paid-up share capital Rs. 50 lakhs; or such other Institute or organisation as may be approved by the Council from time to time". However, it is not widely known that a Chartered Accountant working abroad impart Industrial Training to an articled assistant abroad? The Industrial Training may be imparted by the Chartered Accountants working abroad in a financial commercial or industrial undertaking with minimum fixed assets & minimum total turnover or minimum paid up capital as specified by the Council (whatever the value specified in terms of Indian currency may be deemed as applicable in foreign countries in their respective currencies) or such other organization or institution approved by the Council. Moreover, the members would be eligible to impart Industrial training in accordance with Regulation 51 and 72. In addition to above, an organization eligible to impart training outside India which is not yet registered with the Institute may submit an application alongwith a self declaration (in absence of Annual report) regarding minimum fixed assets & minimum total turnover or minimum paid up capital of the organization about the particulars of the undertaking. Thus, in case the Companies are are not incorporated in India, can very well provide industrial training if it full fills the criterias as led by the ICAI and approval has been obtained from the Council. Regards

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Data?1494421738 samkit kothari answered about 3 years ago

As per ICAI "An articled clerk who has passed the Professional Education (Examination - II) or the Intermediate examination under these regulations may, at his discretion, serve as an industrial trainee for the period specified in sub-regulation (2) in any of the financial, commercial, industrial undertakings with 1) Minimum fixed assets of Rs. 1 crore; or 2) Minimum total turnover of Rs. 10 crores; or 3) Minimum paid-up share capital Rs. 50 lakhs; or such other Institute or organisation as may be approved by the Council from time to time". It has been clearly mentioned in the last line of the above para that financial, commercial, industrial undertakings should comply with any of one condition out of 3 condition or any other institution as prescribed by ICAI and as World bank is not incorporated in India so the 1st three condition are not applicable to it and as ICAI has not prescribed World Bank separately for industrial Training. From the above conclusion a CA student cannot get Industrial Training at World Bank.

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