COP to be given to CA on completion of one year work post qualification experience with a FCA

Certificate of Practice (COP) to be given to CA on completion of one year work post qualification experience with a FCA

COP to be given to CA on completion of one year experience with a FCA.  ICAI notifies draft of Chartered Accountants (2nd Amendment) Regulations, 2022 to amend the Chartered Accountants Regulations, 1988.

The draft provides that a person who has completed his practical training under regulation 54AA shall not be entitled to have his name entered in the register of Member until and unless he has fulfilled the “additional eligibility criteria” as specified by the Council from time to time.

It has been provided that a member shall be eligible for certificate of practice on completion of one year of post qualification work experience with a fellow Chartered Accountant in Practice. Provided further that the requirement of one year post qualification work experience shall not be applicable for a member who has worked for a minimum period of one year with a fellow Chartered Accountant in Practice in the immediately preceding five years before the date of making application for practice.

The Regulations also provide for discontinuance of existing Foundation/Intermediate/ Final Examination course and replace it by a new course regime for foundation/intermediate and Final.

Download CA (2nd Amendment) Regulations 2022 Click Here >> 

• AO is under an obligation to assign reasons for rejecting explanation of the assessee
• CBIC issues SoP for clearance of imported goods through Foreign Post Offices
• Sale deed executed with full knowledge of only part consideration paid, not void – SC
• No fault in serving notice to last known address when PAN data was not updated – ITAT
• Investment by firm through capital introduced by partners cannot be treated as unexplained