Appendix No-6 – The Chartered Accountants Act, 1949

Resolved that the examinations and […]¹ training in the United Kingdom of the following four Institutes (formerly six) mentioned in Rule 7 of the Auditor’s Certificates Rules, 1932, be recognized by the Council under Section 4(1)(v) of the Act as being equivalent to the examination and training prescribed for the members of this Institute:-

(a) The Institute of Chartered Accountants in England and Wales;

(b) The Institute of Chartered Accountants of Scotland;

(c) The Institute of Chartered Accountants in Ireland;

(d) The Society of Incorporated Accountants and Auditors, London.

Provided that under the proviso 4(1)(v), the following further conditions be prescribed in the case of persons not permanently residing in India:

(i) That such persons be required to reside in India to practise the profession of Accountancy or to serve as an assistant in a Chartered Accountant’s office in India; and

²[ 1

(ii) That such person be not eligible for membership of the Council or the Regional Councils or to the right of voting in elections under the Chartered Accountants Act, 1949; and

(iii) That the membership of the Institute will cease if and when the persons concerned ceases to reside or practise in India; and

(iv) That the Board of Trade in the United Kingdom accords the right to the members of this Institute to practise the profession of Accountancy in the United Kingdom in respect of the audit of public companies as defined in the (U.K.) Companies Act, 1948.”

Resolution passed by the Council at its 182^nd meeting held on 3^rd & 4^th September, 1996

“Resolved that –

By virtue of powers vested under Regulation 205 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India hereby orders that the period of training undergone in the United Kingdom and/or Ireland under the bye-laws/regulations of one of more of the following Institutes, namely –

(a) The Institute of Chartered Accountants of England and Wales;

(b) The Institute of Chartered Accountants of Scotland;

(c) The Institute of Chartered Accountants of Ireland; and

(d) The Society of Incorporated Accountants and Auditors, London be recognized only in the case of persons who had left India before 8^th December, 1995 for the sole purpose of pursuing the Chartered Accountancy Course in the United Kingdom and/or Ireland provided:

(a) such persons return to India, register with the Institute on or before 31^st March, 1997 after fulfilling the requirements of the Chartered Accountants Regulations, 1988 for admission to articleship and producing satisfactory proof that they had completed training – wholly or partly – in the United Kingdom and/or Ireland and undergo practical training

(i) for a minimum additional period of 12 months in entirety in the case of those who have already completed the prescribed period of training not being less than three years in the United Kingdom and/or Ireland; or

(ii) for a minimum period of 12 months in entirety in the case of those who are not covered under (a) above but have completed 24 months of training or more in the United Kingdom and/or Ireland; or

(iii) for the balance period of training in entirety as required under the Chartered Accountants Regulations, 1988 in the case of those who have completed less than 24 months of training in the United Kingdom and/or Ireland;

and

(b) appear in and qualify both the Intermediate and Final Examinations of the Institute in their entirety under the Chartered Accountants Regulations, 1988 irrespective of whether they had passed the corresponding examinations – wholly or partly – under the bye-laws/regulations of the aforementioned Institute(s).

Further Resolved that the effect and application of the aforementioned Order/Resolution shall cease to operate effective from 1^st April, 1997.”

Amendment

¹ The Council has since decided to omit the word “practical”.

² The following clause has been deleted:-

“(ii) That the recognition be for a period of five years upto 31^st March, 1958; and.”