As per the 2017-2018 survey, there are around 6.8 Crore taxpayers in India along with 3 Lakh chartered accountants. The role of a CA is not restricted to accounting or auditing but has more of a dynamic scope of services including international taxation, forensic accounting, business planning, risk management, financial consultant, investment planning, etc. Owing to this vast area of opportunity, the number of individuals pursuing chartered accountant degree has increased.
Such courses require vigorous training, and you are required to appear for exams under the Institute of Chartered Accountants of India, ICAI. A CA articleship is an essential part of the curriculum mandated by the regulatory body and a norm across international standards.
What is a chartered accountant articleship?
Chartered accountant articleship is a practical training conducted for 3 years which allows students to work on real assignments under a professional chartered accountant which helps them gain the required experience and knowledge.
Before starting CA articleship, a student is required to undergo several examinations, training and orientation programmes which helps them understand the requisites of the curriculum and also prepares them for real-life professional challenges. Also, students are required to pass IPCC, ICITSS or intermediate training before starting articleship.
Articleship helps students understand the role of a chartered accountant and the services a professional CA will be expected to provide. They will also help students understand the way to deal with clients and how to manage their financial portfolio.
Furthermore, articleship also helps enhance the qualities of an accountant. You can also gain clients while working under a professional employee if you offer the required expertise via your services.
Besides, specific expectations of CA student from articleship are also fulfilled in the form of on-field experience, exposure to real-time project and client management, etc.
How to register for a articleship?
You are required to fill a form to register for articleship training. You can download the form from the ICAI official portal. The forms that you have to fill are Form 102 and Form 103.
Procedure to fill CA articleship Form 102 –
- The deed for an article should be implemented for 3 years. Any deed lesser than 3 years will be rejected by ICAI.
- The form should be executed on a ‘Special Adhesive Stamp’ or a ‘Non-Judicial Stamp Paper.’
- Your form should be attested by the article assistant and the principal, and it should be executed on a printed form.
- The original copy of your form should be kept with your principal, and the duplicate copy should be held with your article assistant as a document for proof.
Procedure to fill Form 103 –
You are required to procure 3 copies of the form. One has to be submitted to ICAI, the second one to your principal and the third one to the article assistant. While presenting the form to ICAI you are required to provide certain documents, such as –
- Attested copy of 12th mark sheet along with your date of birth mentioned.
- Copy of completion of the certificate of ITT and other orientation programmes.
- CA Intermediate or IPCC mark sheet.
Having completed the will help you practice under a professional CA. Such experience is vital for you to progress through your professional career and start a firm of your own. You can follow the step by step guide to starting a new CA firm such as having a proper business strategy, analysing your financing options, knowing your target domain, etc. for a successful venture.
In case you lack the required finance, you can also avail professional loans from various lenders. Bajaj Finserv is one such NBFC that offers Loans for Chartered Accountants at attractive interest rates and against minimal documentation.
They also provide pre-approved offers on these loans as well as on home loans, personal loans, business loans, etc, among numerous other applicable financial products. These pre-approved offers lower the hassle of the application process and save your time. You can conveniently take a look at your pre-approved offer by sharing minimal details like your name and phone number.
Besides, you can download the CA articleship form from the ICAI website for free; however, you are required to pay a minimal fee of Rs. 50 while submitting the form to the ICAI. You can pay the amount via a demand draft that you are required to provide when submitting the form to ICAI.
