Members of the Institute may practice as sole proprieter or through a partnership firm. The CA Ordinance 1961 does not allow members of the Institute to have an audit practice in the form of company limited by liability. Although management consultancy practices may be formed as limited liability companies. A member desirous to start practice must obtain a certificate of practice from the Institute.

Ceritficate of Practice

A member may apply on prescribed form "E" alongwith job release certificate from last employer for a certificate entitling him to practice as a Chartered Accountant or Management Consultant except those who obtained membership by affiliation. The members who have obtained membership by affiliation are required to pass the papers of Advanced Taxation and Corporate Laws of the CA Professional examination before they become eligible for a Certificate of Practice.

The fee for Certificate of Practice is Rs. 3800 for Associate members, and Rs. 5000 if the member is fellow of ICAP.

Partnerships

In case of starting practice through a partnership firm, attested / notarised photocopy of Partnershipt deed is required to be submitted.

The particulars of offices and firms, functioning as partnership should be submitted to the Institute in prescribed form "C" duly completed and originally signed by all partners. (A fresh form is required to be submitted whenever any change in partnership takes place).