(Know Your Ethics) Can a Chartered Accountant in practice enter into partnership with a practicing Chartered Accountant of a recognised foreign professional body for sharing fee of their partnership within India?

1 answer

Ravi Staff July 2, 2018

Yes, Clause (4) of Part-1 of First Schedule to the Chartered Accountants Act, 1949 permits partnership between members of the Institute and the members of the recognized foreign professional bodies either by the Central Government of the Council of the Institute by virtue of either under section 29(2) of the Act or under Regulation 53B(2) Of the Chartered Accountant Regulations, 1988 provided they share fees of the partnership business both within India and outside India.

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