ICAI regularly notifies guidelines and updates based on the chartered accountant profession with the intent to properly communicate the necessary rules and regulation for all the professionals in the industry.
Here we will explain in brief about all the relevant guidelines of the various branches under the ICAI and has been managed by the association for the professionals:
Guidelines by ICAI on Various Topics of Department
Certificate of Good Standing
Certificate of Good Standing is required by the members of The Institute of Chartered Accountant of India (ICAI) for the immigration & visa purposes and for pursuing education and employment outside India (abroad).
ICAI is receiving many requests for the issuance of this certificate and the specialized committee of the Council has fixed guidelines in this regard. The ground rules demand the member to submit a signed written request for issuance of certificate mentioning the purpose for which the certificate is needed along with the communication of the concerned body/institution which needs it. The purpose mentioned on their website or application form or prospectus produced is also considerable.
The request of the same can be made online also via email, provided that it should be from the personal email id of the member along with the prescribed Forms. The Certificate of Good Standing will be issued to those members whose request is directly made by concerned body/institution to ICAI, whose name is active in the ICAI’s records and who has paid annual membership fee or certificate practice fees (if holds practice certificate) for the present year within the stated time.
Kindly find the download link given here:
- Application Form for issuance of Goodstanding Certificate – Download Pdf
- Self Declaration for issuance of Goodstanding Certificate – Download Pfd
Professional CA/CS Firm website Guidelines
Also, the ICAI has detailed all the relevant guidelines to be followed by the professionals and concerned parties, along with the portal running in the market which would adhere to the ICAI suggestions.
The professionals will have the liberty to use the website but with certain restriction so that the professional does not create any market fluctuations and distrust in the profession of CA and CS community.
The website by the professionals must follow the pull model fo the website and therefore all the details and information must be available the clients as per their wish and must be enforced.
Download here the ICAI guidelines of CA/CS professional website : Download Pdf
ICAI Members may advertise their own or their firm’s particulars along with the services catered by them via a write up which should be presented in such a way that it maintains the good image & dignity of the profession and its competence to serve the interest of the public.
Name of the CA, his/her membership no., age, e-mail, date when he/she became CA. etc are some contents of the Write up for members, whereas that of firm’s include Name of the firm, its registration no., year of establishment etc.
The advertisement guidelines ask the Member(s) or the Firm(s) to make sure the contents of the write up comply with the guidelines and are true & to the best of their knowledge & belief. Additionally, the guidelines inform that ICAI shall not be responsible for any content of the write up claimed by the Member(s) / Firm(s). Besides, the write up should not be misleading, indecent, sensational or of akin nature and any testimonials or endorsements concerning Member(s) should not be included in it. The write up should not exhibit any awards or achievements, past & present clients or any supremacy over any other Member(s)/Firm(s). The write-up should adhere to the provisions of the ‘Act’, Rules formed under and ‘The Chartered Accountants Regulations,1988’.
Download here the PDF of Guidelines on Advertisement : Download Pdf
Guidelines For The Members of ICAI
The Council of the Institute of Chartered Accountants of India has framed some guidelines for the members of ICAI under the provisions of The Chartered Accountants Act, 1949, as amended by The Chartered Accountants (Amendment) Act 2006. Such guidelines are known as ‘Council General Guidelines, 2008’.
These guidelines are stated in a series of chapters that begins from Chapter I (Preliminary) and continues until the last Chapter XIII about Repeal and Saving. These guidelines set different compliance requirements and prohibitions for the ICAI members. For example, Chapter VIII (Specified number of audit assignments) restricts a CA from holding more than the “specified number of audit assignments” of Companies u/s 224 and/or Section 228 of the Companies Act, 1956, at any time of appointment.
Download here the PDF of Guidelines For The Members of ICAI : Download Pdf
Council Guidelines For Conversion of CA Firms info LLPs
ICAI Council has ascertained some guidelines for the conversion of CA firms into LLPs and constitution of different LLPs by the Chartered Accountants who are practising the profession, on 14th July 2011. The guidelines are framed considering the provisions of the Limited Liability Partnership (LLP) Act, 2008 and Norms & Regulations formed under that.
As per the guidelines, CA firms who are willing to get converted into LLPs shall follow the provisions of Chapter-X of the Limited Liability Partnership Act, 2008 & go through the Second Schedule of the same Act which includes provisions for the conversion from existing firms into LLP1.
Download here the PDF of Guidelines For Conversion of CA Firms info LLPs : Download Pdf
Guidelines for Practice in Corporate Form of Practice (261st meeting)
ICAI council with the intention to enable the members to combat the rising challenges in the service sector and to prepare them for the opportunities in the non-audit service range, decided to allow the practising members to cater the Management Consultancy and Other Services (which was initially not allowed) in Corporate form at its 261st meeting which took place from 1 st to 3 rd August 2006.
The Council made up its mind to permit the practising members to hold the office of Manager, Managing Director or Whole-time Director of a corporate body within the definition of the Companies Act, 1956 , subject to the condition that the corporate body is exclusively engaged in serving Management Consultancy and other Services allowed by the Council adhering to Section 2(2)(iv) of the Chartered Accountants Act, 1949 and the conditions(s) stated by the Council regularly in this context. ICAI also specified guidelines in terms of Applicability of the Companies Act, 1956 and other laws, Transitory Provisions, Object of Management Consultancy Company, etc for the same.
Download here the PDF of Guidelines for Practice in Corporate Form of Practice : Download Pdf
The ICAI Council issued guidelines regarding the usage of designation etc. and way of printing letterheads and visiting cards, of the President & Vice-President of ICAI, Chairman of the Institute’s different Non-Standing Committees; Members of the Council; Chairmen,other office-bearers and Members of the Regional Councils and the Managing Committees of Branches, which are appearing at Appendix `D’ to the Code of Ethics, 2005 issue.
Recently on 9th August 2008 at its 280th Meeting, the council decided to revise the guidelines in the context of visiting cards which states that it should be printed for all the above-mentioned individuals and that the members themselves cannot print the visiting cards. The entire term of the Council/Regional Council/Branch will be presented in the card, for example, 2007 to 2010. Initially, only 500 cards will be allowed to be printed for the Council member and the cards should be printed in the prescribed format. The guidelines also say that the visiting cards shall be given back to the Institutes’s offices as soon as the term of respective designation gets over. Similarly, there are some guidelines that govern the manner of printing the Letter-heads.