Chartered Accountant can practice either as a Chartered Accountant or only as a Management Consultant as sole proprietor, through a  partnership firm or a limited liability company. In case he opts to practice as a Chartered Accountant he can engage in all those functions which a Chartered Accountant in practice undertakes including management consultancy after obtaining the certificate of practice as a Chartered Accountant under Bye-Law 8 of CA Bye-laws 1983.

Management Consultancy by Chartered Accountant in Practice

A Chartered Accountant in practice can also engage in management consultancy practice by forming a separate sole proprietary concern, partnership firm or a company. In case he wishes to associate non-members he is required to form a company and to undertake that such non-members would observe the bye-laws and code of professional ethics of the Institute.

The practicing Chartered Accountants who wish to practice as "management consultants" through a limited liability company can style themselves as  "Management Consultants" under the company's name e.g. XYZ Co., Ltd., Management Consultant. There should however, be separate sign boards and  stationery for practice as "Chartered Accountants" and as "Management Consultants".

However, the designation ""Management Consultants" cannot be sued by the practicing Chartered Accountant either individually or by sole proprietary concern or partnership firm.

Management Consultancy Practice by  Members Not in Practice as Chartered Accountant

A member who is interested in practicing only as a management consultant, can engage in such practice whether as sole proprietor or through a partnership firm or a limited company after obtaining a certificate of  practice to practice as "Management Consultant" under Bye-Law 8 of the CA Bye-Laws, 1983.
 
Such members would be entitled to practice only as management consultants and cannot engage in other functions which are normally undertaken by a Chartered Accountant in practice.
 
In case a member wished to associate non-member in his management consultancy practice he could do so only in case of practice as a limited liability company and he would undertake that such non-member would observe the bye-laws and code of professional ethics of the Institute.
 
In case a member not practicing as a Chartered Accountant to associated with a management consultancy practice he would be required to obtain a certificate of practice as a Management Consultant".  The obligation to ensure that non-members observe the bye-laws and code of professional ethics of the Institute under Clause 10 of Part-2 of Schedule-1 of the Chartered Accountants Ordinance, 1961 would  arise if a member associate with non-members in any of the following capacities: