Friday, 16 June 2017
It has been brought to the notice of the Institute that certain students are using the “CA” designation before their names on Social Networks like Facebook, as well as their personal E-mail addresses.
Students may please not that, this is a violation of Section 7 and Section 24 of Chartered Accountants Act, 1949.
Therefore, it is hereby clarified that, students who are still pursuing the Chartered Accountancy course are not allowed to use the word ‘CA’ in their name in Social Networking sites such as Facebook, Google+ etc. Using these credentials in emails is also prohibited.
Does it apply to Professionals:
No, the above restriction is applicable only to CA Students. Qualified CA Professionals are free to use is.
What is the status of a Chartered Accountant who is a salaried employee of a Chartered Accountant in practice or a firm of such Chartered Accountants?
An associate or a fellow of the Institute who is a salaried employee of a Chartered Accountant in practice or a firm of such Chartered Accountants shall, notwithstanding such employment, be deemed to be in practice for the limited purpose of the training of articled assistants. He may hold Certificate of Practice but he is not entitled to do attest functions w.e.f. 1.4.2005.
Whether a member in practice is permitted to undertake the management of NRI funds?
No, the member is not permitted to undertake such assignment because the same is not covered under “Management Consultancy and Other Services” permitted to be rendered by the practicing members of the Institute.
Can a Chartered Accountant in practice allow any person to practice in his name as a Chartered Accountant?
No, Clause (1) of Part-I of the First Schedule to the Chartered Accountants Act, 1949 prohibits a Chartered Accountant in practice to allow any person to practice in his name as a Chartered Accountant unless such person is also a Chartered Accountant in practice and is in partnership with or employed by him.
Whether a Professional Accountant in Public Practice may pay or receive a referral fees or commission?
professional accountant in public practice may receive a referral fee or commission relating to a client and may pay a referral fee to obtain a client. A professional accountant in public practice should not pay or receive a referral fee or commission, unless the professional accountant in public practice has established safeguards to eliminate the threats or reduce them to an acceptable level.
