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      Question

      An associate or fellow who is a salaried employee of a

      practising CA or CA firm is, under the Explanation to Section 2(2), deemed to be in practice - but only for which limited purpose?
      A For the purpose of signing audit reports independently Correct Answer Incorrect Answer
      B For the purpose of contesting Council elections Correct Answer Incorrect Answer
      C For the limited purpose of training of articled assistants Correct Answer Incorrect Answer
      D For the purpose of claiming fellowship without five years' practice Correct Answer Incorrect Answer
      E For the purpose of representing clients before the Tribunal Correct Answer Incorrect Answer

      Solution

      The Explanation to Section 2(2) states that a salaried employee who is an associate or fellow of a practising CA or CA firm is, notwithstanding such employment, deemed to be in practice only for the limited purpose of the training of articled assistants. This ensures that articled students employed under such members still receive valid training credit. It does not entitle the employee to sign audits independently, contest elections, claim fellowship, or appear before the Tribunal, making it the correct answer.

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