Page 392 - CA Final Audit Titanium Full Book. (With Cover Pages)

CA Ravi Taori

Directorship Exception: Despite the profession restriction, chartered accountants are allowed to serve as
directors of a company. However, they cannot hold positions as managing directors or whole-time directors. He
or his partner should not be Auditor in the Company.
Rationale.
Degnity: The goal is to prevent members from combining their accounting work with other businesses that may
not uphold the dignity of the profession.
Avoid Advertising : If chartered accountants were allowed to engage in various business ventures, they could
potentially use this as a platform to advertise and gain an unfair advantage in their professional practice.
Regulation 190A & 191
Regulation 190A: The Council has formulated this regulation, which states that a chartered accountant in
practice should not engage in any other business or occupation outside the profession of accountancy, except
with the Council's permission.
Regulation 191: This regulation allows a chartered accountant in practice to accept part-time employment. They
may act as a liquidator, trustee, executor, administrator, arbitrator, receiver, adviser, or representative for costing,
financial, or taxation matters. They may also accept appointments made by the Central Government, a State
Government, a court of law, or any other legal authority, or act as a secretary in their professional capacity,
provided the employment is not on a full-time, salaried basis.
General Permission (Shortcut- SPECIAL PAC E )
3 2
Permission granted generally - Members of the Institute in practice be generally permitted to engage in the
following categories of occupations, for which no specific permission from the Council would be necessary in
individual cases:

Surveyor: Acting as Surveyor and Loss Assessor under the Insurance Act, 1938.
Private Tutorship: Private teaching
Education: Attending any classes and examinations.
Commission: Holding a Life Insurance Agency License for renewal commissions.
ICAI tutorship: Part-time tutorship at the Institute's coaching organization
Authorship: Writing accounting books/articles.
Legal: Acting as Notary Public, Justice of the Peace, Special Executive Magistrate, etc. (Short cut MNP)

Politics: Holding public elective offices (M.P., M.L.A., M.L.C.)
Agriculture: Owning and operating agricultural land.
Consultancy: Acting as a recovery consultant in the banking sector.
Charity: Honorary office leadership of charitable-educational or other non-commercial organisations.
CA/CA Firms: Jobs in chartered accountancy firms/ CA in practice
Examination: Valuation of papers, acting as paper-setter, head-examiner, or moderator. (Any exams)
Editorship: Editorship of professional journals.

Specific Permissions – (Shortcut - BEAT Langur on FENCE)
Members of the Institute can participate in various business sectors or professions, but they must first get
individual approval from the Council for each case.
Employment in Business: Members can be employed full-time or part-time in a business, provided they or their
relatives do not have a Substantial Interest in it. (20% or more)
Educational Interest: Members can have an interest in an educational institution.
Additional Occupations: Members can engage in any other business or occupation that the Executive
Committee may consider granting permission for.
Tutorship: Members can take up part-time or full-time tutorship roles at educational institutions not affiliated
with the Institute's coaching organization.

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