Networking of CA Firms
The Institute of Chartered Accountants of India (ICAI) has launched the Online Process for Formation of Networking of CA firms.
Members and Students Services Directorate
The Institute of Chartered Accountants of India
1st April, 2022
ANNOUNCEMENT
Online Process for Formation of Networking of CA Firms Launched
The Online process has been launched for formation of Networking of CA firms, as per new networking guidelines approved by the Council last year.
The networking tab is available under Firm Module in Self Service Portal (SSP) and members can now directly apply through Portal for approval and registration of Network.
The Guidelines for Networking of Indian CA Firms 2021 are available at ICAI website at below link:
https://resource.cdn.icai.org/64061mss51444.pdf
Members and Students Services Directorate
Three models of networking – Options offered to Members
Following approaches are placed before the Members in practice, any one of which can be adopted by those desirous of expanding their practice:
Approach I – Different firms coming together to form an Alliance with a new name of Alliance and continuing to practice independently and can showcase as an Alliance to the world.
Approach II – Different firms coming together to form a Network with a new Network name and practicing in the name of firms belonging to Network. This Model is subdivided into following two options:
Firms may adopt any of the three Models that will be best suited for expansion of practice. It may be noted that different models may be suitable for different practitioners, depending upon their needs and inhibitions. Therefore, the intention is not to force any one particular model upon members, rather members are at liberty to continue with their existing model of practice and need not adopt any of the following models:
The Network guidelines was issued by the Council in the year 2005 and thereafter was amended in the year 2011. These guidelines have not evinced desired level of interest from firms, so much so that till date close to 100 networks have been formed. The Group considered the probable reasons as to why firms are not forming a Network, which are illustrated hereunder:
To Know More Refer: https://resource.cdn.icai.org/64061mss51444.pdf
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