During the CAP - III / Final Level Course a student has to undergo Articleship Training for the period of three years as an Articled Trainee under a Practicing Chartered Accountant along with theoretical education under Rule 24 of The Nepal Chartered Accountants Regulation, 2004.
In Chartered Accountancy Education, practical training is instrumental in shaping accountancy as a well founded and highly dignified profession exposing the students to adequate knowledge of accounting, auditing, taxation, information technology, system design etc. It also ensures job opportunities for striving and thriving students devoted to accountancy as a prestigious profession for the overall development of the country. Here, the students can make the best use of the practical training period working with a practicing chartered accountant member. They can also work full or part time as an industrial trainees with practicing chartered accountant members and in financial, commercial or industrial undertakings. The period of such Industrial training may not be more than a year.
Student who has passed CAP - II / Intermediate Course can join for the Articleship Training.
Three Years.
Only those Chartered Accountants members, who have obtained the Certificate of Practice as per Rule 49 of the Nepal Chartered Accountants Regulation 2004, are entitled to train articled trainees.
A Chartered Accountant member, herein referred to as "Principal" shall be entitled to train articled trainee provided he:
A Chartered Accountant member can engage an additional articled trainee in training activity/ programme, subject to the following conditions:
Institute updates the list of 'Principal' and the 'number of Article Trainee they can engage' time to time. Student can get the information from the Institute and contact with Principal by himself.
A student registered as an Article Trainee is entitled to receive a minimum monthly stipend as per the rates specified under Rule 27 of The Nepal Chartered Accountants Regulation, 2004. The stipend rate can be review time to time. The current minimum monthly stipend rates are as follows:
| 1st Year | NRs.3,000 |
| 2nd Year | NRs.4,000 |
| 3rd Year | NRs.5,000 |
Stipend is provided by the Principal whom the Articled Trainee served under.
It depends upon the performance of the Trainee and consideration of principal.
The Principal shall not receive / accept any kind of fee, donation, charge, loan, deposit of any other kind of financial benefit of facility from the articled trainee.
An articled trainee shall be granted forty days leave in one year, not exceeding more than 120 days in three years, excluding public holidays. Leave exceeding the permitted limit under the regulations shall be adjusted in the leave earned during working extra days during the extended period of articleship. Public holidays during leave period shall be included in the duration of leave taken.
An article trainee can be granted not exceeding more than 120 days in three years, excluding public holidays. The trainee shall be granted leave, if reasonable notice has been given to the principal. For the given case, s/he can take 120 days leave at the early days of third year of articleship period.
Public holiday means the holiday declared as public holiday by Government of Nepal.
The compensatory leave depends on mutual understanding between Principal and Article Trainee. ICAN does not interfere for this reason.
Leave due shall be accumulated. So the Article Trainee who has not taken leave during first and second year can have his/her leave accumulated and can be carried forward to the third year of articleship period.
The compensatory leave and other remedies depend on mutual understanding between Principal and Article trainee. ICAN does not interfere for this reason.
No.
Yes, granting leave for any other purpose is under the discretion of Principal. So the Article Trainee should produce satisfactory explanation of leave and take leave after taking Principal's permission.
The working hours of an articled trainee shall be 40 hours a week and working hours must be between 9 AM to 5 PM.
Yes, with a view to provide special skill and practical experience in a particular area, a principal can depute an articled trainee to another principal with mutual consent of both. The period of the exchange should not exceed one year. Such exchange of articled trainee must be reported to the Institute.
The Principal shall keep an updated individual record of every articled trainee's performances in the specified format by ICAN. The Principal shall report detailed particulars of training of individual Articled Trainee in the specified format. This should be reported to the Institute in every six months or as and when demanded by the Institute.
Yes, In case a principal dies or gives up his accountancy profession or is unable to continue his training job for some unforeseen reasons, his partner, or any or his legal representative or an employee working in his accounting firm shall have to inform the Institute of submit a report about the principal's situation within 30 days from the date of the above occurrence with detailed information about the articled training.
The deed of articleship can be terminated at any time through mutual consent of both articled trainee and his principal. Information regarding termination of the deed of articleship must be reported to the Institute within seven days from the date of termination. After the termination of the deed of articleship, the articled trainee may be assigned to another principal for the remaining period of practical training.
If an articled trainee remains absent continuously for more than 15 days without any prior information, the Principal may request to the Institute for permission to terminate the trainee's Deed of Articleship. The Institute may grant permission to terminate the deed of articleship after proper investigation on the request forwarded.
The principal with one month's prior permission from the Institute and similar information from the articled trainee can terminate the deed any time.
The principal shall inform the Institute successful completion of the articleship training in the prescribed form by ICAN. The Institute, after receiving such information from the Principal, shall issue Certificate of Completion of Articleship to the students successfully completing the articled training.
In order to gain practical experience, an article trainee may serve a particular industry as part of the practical training activity for a period not exceeding one year. The industrial training shall be received under the guidance of a Chartered Accountant member of the Institute engaged in such an organization. This is subject to prior approval from the industrial organization to be served or such principal. The following are some of the list of organizations which an articled trainee may serve during the period of practical training
The Principal, under whom the industrial training is being undertaken, shall be responsible for paying stipend to the trainee as per articled regulations, Rule 27 of Nepal Chartered Accountants Regulation 2004. However, a higher stipend than that prescribed can be paid to the articled trainee. A Chartered Accountant is eligible to take up two Industrial trainees at a time. The period of practical industrial training shall be as calculated by the Institute under Rule 24 of Nepal Chartered Accountants Regulation 2004. Leave taken by the trainee during the period of industrial training shall be adjusted within the total leave granted to him during three years' period of training.
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