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What is industrial training in the 3rd year of CA articleship?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

What is industrial training in the 3rd year of CA articleship?

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3 Answers
Open uri20170510 32134 1ue0f38?1494421710 answered

Hi Friend, Industrial training is an opportunity to those articles assistants who prefer to join industry after qualifying as a CA. Regulation of the institute provides an option to CA Intermediate | CA IPCC passed students to undergo industrial training in organizations as approved by the ICAI which may range between nine to twelve months during the last year of articleship. The basic difference between artilceship and industrial training is change in the role. In articleship training you work riguorously under an employer and work as article assistant. He/She is also called as auditor and audit different corporate bodies like companies etc. One audits the work of the auditee, Whereas, in case of industrial training, one joins as industrial trainee in any of the companies approved by the institute, prepares all the details and get the work audited by the auditors. The difference between articleship and industrial training is change of the position of the chair. So far as your question is concerned that What are the benefits of industrial training?? the answer is that the benefits are lot. The first and foremost benefit is that There is high probable chance that the Company in which you have done your industrial training might absorb you. The Company need not spend its resources (either in the form of money or time) for training as the industrial trainee must have gathered required experience and knowledge of the workings of the Company. Regards

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Hi anju, Industrial training is simply means working in organization which are in the list of ICAI as a part of practical training or articleship. You will get list of industries on ICAI website. Duration of industrial training is 9 to 12 months. You will get to know about vacancy on students journal published by ICAI every months.I feel it is best source to apply from students journal.

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Picsjoin 2017224123730582 answered

Hie Anju, Industrial training is a training scheme by which a student can undergo practical training within an industrial undertaking having specified amount of fixed assets or turnover or paid-up share capital. Industrial training can be commenced during the last one year of articleship. Industrial training can be performed in financial, commercial, industrial undertakings with minimum fixed assets of 1 crore; or minimum total turnover of 10 crore; or minimum paid–up share capital of 50 lakhs; or such other institutions or organization as may be approved by the Council from time to time. The period of industrial training may range between 9 months and 12 months. The industrial training shall be received under the 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 shall be entitled to train two industrial trainees at a time. There should be an agreement of industrial training in Form No.104. 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. It is required to maintain details of work undertaken and training received in the prescribed format. Industrial training is better,because it give practicle training.

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