New Delhi, May 09: In tune with economic globalisation, ICAI has sought permission to allow students to take the internship and training in the country of their choice, a move that would largely benefit the increasing number of NRI students. The move can fructify with necessary amendments in the chartered accountants act for which the apex body, the Institute of Chartered Accountants of India (ICAI) has already approached the government. "We are planning to initiate the international practical sessions for such students," ICAI president Sunil Goyal told pti. Though ICAI, set up under an act of Parliament, had examination centres in Dubai and Nepal, the students in these countries had to come down to India for practical training. The move to relax the norms for practical training comes in the wake of overwhelming response the institute was getting especially from the middle east as far as student enrollment was concerned. The practical training for the students of the chartered accountancy course involves training, working in the office of a chartered accountant in practice or a firm of Chartered Accountants for the specified period.
The training could be either as articled clerk or audit clerk. Article clerk is a trainee attached to a Chartered Accountant for three years, while the tenure of audit clerk was four years. ICAI has also initiated 'virtual institute' for offering services on-line mainly benefiting the students.
Bureau Report