After completing the CA, Intermediate exam candidates can move for Industrial Training. Note one thing that CA Industrial Training is not mandatory for the students. The reason for doing Industrial Training is to get experience and knowledge. There is the various advantage of Training like candidates will gain practical knowledge, making them ready to work with team members, capable of handling the pressure, etc.
ICAI (Institute of Chartered Accountants of India) is responsible for CA Industrial Training after Intermediate. Students are not clear about this Training, and they start searching on Google. I am here to you aware of the facts about how much Industrial Training is essential.
This article will get to know the eligibility, how to start, time-period, procedure, etc.
Eligibility for CA Industrial Training
- The candidate who has passed the CA Intermediate is eligible to serve as an industrial trainee in any financial, commercial, industrial undertakings. The council specifies may other institutions or organizations to approved by them from time to time.
- The article can serve as an Industrial Trainee in mid of the last year of Practical Training.
- A candidate must intimate his principal at least three months before the commencement of ICAI Industrial Training.
How to Apply for CA Industrial Training
There are many ways to apply for CA Industrial Training, and some points mentioned below:
Get a list of companies registered with ICAI that offers CA industrial training
From the Institute, you will get a hard copy of the list of companies registered with the ICAI. Now, you can also find the list on ICAI s website with all the details.
Do not pick and choose your options now:
The biggest mistake students do when they look for industrial training opportunities is that they pick and choose a company where they don’t know which organization would call them and which would not. To improve the chances, I suggest you send your CV to all the firms in the city where you live or send where you want to do Industrial Training. Please send it to as many companies as you can so that your chances of getting an interview call are bright.
How do you send your CV
How will you send your CV? is another question. You can send it via email or courier. Earlier majority of the correspondence used to send via hard copies, i.e., courier.
When I checked some of the companies details and realized that the ICAI’s list does not necessarily provide companies email addresses to which CV can send. The only option left is to either visit the company’s office personally or send your CV by email. The second option is better than any other to send CV via email. Apply as much as you can so that the chances of getting selected increases.
Expect a low turn around
There is a high likelihood that most companies are not responding to the emails or couriers because writing incorrect addresses would high, or the HR manager would be sitting in some other office. Sometimes letters may not even reach the right place. Consequently, the chances of receiving any call or email are low.
But, don’t panic or get demotivated. I mentioned earlier that the more companies you send your CVs, the brighter are the chances to receive an interview calls. At last, you need only one company to work with, and that one company you would find indeed.
Time-Period of CA Industrial Training
In ICAI guidelines, the period of ICAI Industrial Training may range between a minimum of nine months to a maximum of twelve months.
Under Whom the Article can Pursue Industrial Training
- Industrial Training shall only receive under a member of the Institute of Chartered Accountants of India.
- As per the ICAI Guidelines, it takes at least three years to train one trainee, and for this associate member is entitled who has been a member of ICAI. Whether the trainees are articles assistants or audit assistants, the fellow member is entitled to train two trainees at a time.
Procedure for CA Industrial Training
A candidate who wishes to pursue ICAI Industrial Training shall fill the Form No. 104 to register for the Industrial Training.
When the candidate completes his tenure as an Industrial Trainee, the principal must issue a service certificate that is Form No. 105 in the approved form.
Operation Hours of an Articled Assistant
An articled assistant’s working hours shall be 35 hours per week to be regulated by the principal from time to time.
Hundreds of candidates choose to go for Industrial Training as it allows them to participate in specialized accounting exercises. It may also expose trainees to management accounting, cost accounting, management Information system, EDP, etc.
Through such training, candidates can participate in the work relating to corporate laws, taxation, and secretarial practice.
We have discussed that Industrial training of CA is an optional part of the Chartered Accountancy course for the trainees who wish to build their career in industries. Then I have shared objectives, how to apply, eligibility, procedure, time-period, and all other relevant information related to such Industrial training of CA.
I hope this article has solved all your queries related to CA Industrial Training. Please share the article with your friends to take advantage of the information as well.