Appendix No-5 – The Chartered Accountants Act, 1949

Resolved that the examinations and training of the following institutions, organizations etc. in the relevant countries be recognized under Section 4(1)(v) of the Chartered Accountants Act, 1949, as being equivalent to the examination and training prescribed for the members of the Institute:-

1. The Institute of Chartered Accountants of Ceylon.

2. The Public Accountants’ and Auditors’ Board of South Africa.

3. The Institute of Chartered Accountants of Pakistan

4. The Registered Accountants of Burma, and

5. The Institute of Chartered Accountants in Australia

Further resolved that a person who has passed the Final R.A. Examination held under the Burma Auditors’ Certificate Rules and who has either undergone the requisite training as an articled/audit clerk or has been practising as Public Accountant and Auditor, but who cannot get himself enrolled as a Registered Accountant of Burma, for the reason only that he is a permanent resident of India, would also be eligible for membership of the Institute.

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

(i) That such person 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

(ii) That such person shall not be eligible for membership of the Council or the Regional Councils nor have a right to vote in elections under the Chartered Accountants Act, 1949 and the Regulations framed thereunder; and

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

Resolution passed by the Council at its 188^th meeting held on 8^th-10^th December, 1997

“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 respective countries under the bye-laws/regulations of one or more of the following institutes, namely –

1. The Institute of Chartered Accountants of Ceylon.

2. The Public Accountants’ and Auditors’ Board of South Africa.

3. The Institute of Chartered Accountants of Pakistan.

4. The Registered Accountants of Burma, and

5. The Institute of Chartered Accountants in Australia.

be recognised only in the case of persons who had left India before 8th December, 1997 for the sole purpose of pursuing the Chartered Accountancy Course in any of the aforementioned countries provided :

(a) such persons return to India, register with the Institute on or before 31st March, 1999 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 respective country 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 respective country; 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 respective country; 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 respective country;

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 Institutions, organisations etc.

[The Resolution passed by the Council and given in Appendix No. (6) is no longer in operation in view of resolution subsequently passed by the Council at its 182^nd meeting held on 3^rd & 4^th September, 1996 given thereunder]