Wednesday, August 17, 2022

A Guide to Choosing a CA Firm for Articleship

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A chartered accountant is among the top-paid jobs around the world. Every corporate entity maintains its financial records as per the compliance norms. Companies need a CA (Chartered Accountant) to prepare financial statements, budgets, tax plans, audits, etc. Many young enthusiasts are completing the CA course in India to build a secure future. Besides theoretical exams, the CA course also demands students to go through an internship. Students often browse the top CA firms in India to complete their internships. Read on to know some points to consider before joining a CA firm for an internship in 2022.

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Introduction to CA articleship

The CA course is a three-level course and consists of three main papers/exams. As per ICAI norms, the CA course consists of Foundation, Intermediate, and Final programs. After students have completed the Foundation program, they are eligible for an internship. The CA articleship training lasts three years and is compulsory for every student. For the first two years of articleship, students are asked to work under a partitioning CA. The third year of internship training can be completed as industrial training. Without any exemption, every student must go through the internship period to get certified as a CA in India.

With an internship, A CA student learns industry skills and becomes competent. Apart from the three-year training period, a CA student must complete orientation and ITT training. One hundred hours of ITT training and ninety hours of orientation are compulsory for each CA student. Once students complete ITT training, orientation, articleship period, and CA program, they can get certified. For direct entry students in the CA course, there are different rules for CA internships. Since CA internship shapes the future of CA students, they should know how to choose the right CA firm.

Choosing the right CA firm for internship in 2022

Students who complete CA internships with top CA firms have chances of a better future. A lot depends on the internship period to get a CA job with a reputed firm. Students should invest time in research before choosing a CA firm for an internship. Ways to select the right CA firm for internship in 2022 are as follows:

Compare the reputation of CA firms

Students should focus on joining a big CA firm for an internship. They might get a job with the same CA firm if they get lucky. Many CA firms prefer to choose permanent employees among the interns. The interns in a CA firm already know the company culture and practices. It is why students should compare the reputations of CA firms before choosing one for internship. There’s no point in joining a CA firm that does not have a good reputation in the industry.

Study the transfer rules

Consider a CA student who has joined a small CA firm for an internship. After a year of training, the student gets an opportunity to join a bigger CA firm for an internship. The student can join another CA firm for an internship only after getting a transfer from the previous CA firm. Not all CA firms allow easy transfers during the internship period. For the same reason, students should read the transfer rules before joining a CA firm for an internship.

Know about the offerings

CA firms offer a wide range of financial & accounting services to individuals and corporates. Students should focus on choosing a CA firm that offers clients a wide range of services. Such a CA firm will help in the holistic development of the intern. From due diligence to financial audits, one can learn it all by joining a big CA firm.

Know the stipend

Before joining a CA firm, a student should communicate appropriately with HR. The student should know the stipend before joining a CA firm for an internship. Some medium-sized CA firms may not even offer a stipend to interns. It is why comparing stipends of CA firms is necessary.

Know about preparation leaves

Students start their internship after passing the Foundation exam of the CA course. However, they still need to pass CA Final exam to get certified. Make sure the CA firm will provide leaves for CA Final exam preparation. Start your CA internship with a reputed firm in 2022! 

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