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?

Q: Answer-An associate or fellow who is a salaried employee of a practising CA or CA firm is, under the Explan...

The Explanation to Section 22 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.

A For the purpose of signing audit reports independently Correct Incorrect

B For the purpose of contesting Council elections Correct Incorrect

C For the limited purpose of training of articled assistants Correct Incorrect

D For the purpose of claiming fellowship without five years' practice Correct Incorrect

E For the purpose of representing clients before the Tribunal Correct Incorrect

Detailed 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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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?

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