ICAI Announces New Eligibility Criteria for Empanelment of Organisations to Offer Industrial Training
The Institute of Chartered Accountants of India (ICAI) has revised its eligibility criteria for organisations offering Industrial Training under Regulation 51(2)(b). Effective from January 1, 2026, these changes aim to improve the quality of training.
Eligibility for Organisations
Organisations that want to offer Industrial Training must meet at least one of the following financial conditions:
- Minimum Fixed Assets of Rs 10 crore, or
- Minimum Total turnover of Rs 50 crore, or
- Minimum Paid-up Share Capital of Rs 1 crore along with a net worth of Rs 5 crore.
Additionally, the organisation must have at least two full-time Chartered Accountants who have been ICAI members for a continuous period of at least 3 years.
Eligibility Criteria for CA Student
An article assistant who has cleared the Intermediate (Professional Competence) Examination or Professional Education (Examination-II) or Intermediate examination and completed at least 12 months of practical training is eligible for industrial training.
Duration of Industrial Training
The Training can last from 9 to 12 months and must be conducted under an ICAI member. Additionally, the article assistant must inform their principal three months in advance.
Certificate of Completion and Stipend Guidelines
- The organisation must enter a training agreement in Form 104 for all industrial training.
- After the industrial training is completed, the members giving this training are required to issue a Completion Certificate to the Trainee in Form 105.
- Once the completion certificate is completed, the period of industrial training will be considered as service.
- Industrial trainees must be paid a monthly stipend, which can be mutually decided, but it cannot be less than Rs 15,000 per month.
Trainee Entitlement
- An associate member who has been a continuous member of ICAI for at least three years can train an industrial trainee at a time.
- A fellow member must train two industrial trainees at once.
Validity and Renewal of Empanelment
- The Empanelment is valid for 5 years, and after this period, the organisations must mandatorily renew their empanelment if they meet the eligibility criteria at the time of renewal to continue to engage with the industrial trainees.
Industrial Training in Foreign Countries
- An articled assistant is allowed to do industrial training for 6 to 12 months in a foreign country, only under a member of a professional accountancy body recognised by the International Federation of Accountants (IFAC) and as permitted by the Council.
- A member may also send an industrial trainee to a foreign country for a short period of up to three months, as per ICAI’s guidelines.
Consequences for Violation
If any organisation violates the Chartered Accountants Regulations, 1988, such as a violation related to the excess leave during Industrial Training, the ICAI has the authority to cancel the registration and remove the organisation from giving Industrial Training.
