Common Proficiency Test (CPT) students who have either completed Group I or both the groups of IPCC are deemed eligible for CA articleship.
CA students must enrol in the same to complete their professional course and also to gain requisite knowledge and experience in this field.
Since it forms such a vital aspect of CA students’ career, they need to be considering a few things before their articleship to streamline the entire course efficiently.
Here’s a list of things that aspiring CAs should consider before starting their articleship –
- Choice of firm
The skills 21st-century articles want from CAs may only be delivered by the top firms.
Consequently, CA article students should make it a point to opt for a CA firm that offers them ample of opportunities to widen their knowledge both theoretically and practically.
A reputed firm would help with specialisation, while a medium-sized firm will help them become familiar with the different operations within a CA firm. It would also offer a fair share of the idea of how to use accounting software in India efficiently.
- Study leave
Most aspiring CAs tend to struggle when it comes to juggling their CA articleship, tuitions and exam preparations.
As a means to cope with them efficiently, articles should check if the firm they choose offers substantial leaves as per the ICAI Rules.
Additionally, they should learn if they are stringent when it comes to approving additional leaves or not.
- Outstation work
Outstation work is among the top emerging trends for CAs. This helps to aspire CAs prepare with the work pressure and also equip them with the required expertise of dealing with established clientele.
This being said, CA students should be decisive when it comes to opting for a firm that sends their trainees for outstation audits.
Individuals who are not equipped with the proficiency to deal with such set up would not be able to make the most of a firm that excels at handling outstation clientele.
Though stipend should be made a top priority when applying for CA articleship, it does play a significant role and hence deserves fair consideration.
Regardless, instead of being too concerned with the sum of stipend extended by their choice of firm, they should find out if the stipend is in accordance with the ICAI standards.
Exposure is a key factor that must be taken into account for a successful articleship. Aspirants should make it a point to pick a firm that not only helps them improve their accounting skills but also develop other crucial skills.
A full-fledged exposure to the functioning of the different departments or units would prove beneficial in expanding their depth of knowledge of the practice.
It would further help them gain valuable insight into how to avail requisite financial and legal assistance to open a CA firm.
When setting up such a firm, CAs can easily opt for financing options like loans for chartered accountants. Bajaj Finserv is one such NBFC that offers such types of loans.
They also provide pre-approved offers that reduce the time taken to avail financing and helps customers save time. Pre-approved offers are available on a host of financial products like business loans, home loans, personal loans, etc.
- Transfer policy
CA aspirants need to consider the transfer policy followed by a CA firm before joining the same for CA articleship. A firm that has a flexible transfer policy would prove effective at times when things are not working out in favour of a CA student.
Other than these, individuals may consider a firm that is ideally located near them to streamline their training better.
Lastly, it can be said that by considering these pointers, CA aspirants can secure an articleship experience that would be fulfilling and rewarding.
For example, through their course of CA articleship, students would learn not just about accounting tools but also about that project management software they should consider investing in.
This, in turn, will come in handy even when they have graduated from their CA course and are considering starting a firm of their own. On the whole, this basic effort would help them enrich their CA practice in the long-run and derive a positive outcome.