Did you know that Chartered Accountancy (CA) is among the most challenging professional courses to clear in India? This exceptionally difficult examination has an average passing rate of less than 5 per cent. The whole course is divided into three stages. The Chartered Accountant’s degree is handed only after completing all three phases. A CA articleship or internship plays a crucial role in shaping the career of CA aspirants. Therefore, working in a reputed CA firm for an internship is vital. Read on to learn more about the internship for CA at a leading accounting firm.
What is a CA internship?
The chartered accountancy course takes a pragmatic approach to teaching accountancy skills that are desperately needed in the real world. The internship lays the foundation for this learning. Most CA students pursue their articleship or training after clearing the IPCC exams. Students work under a practising CA on live accounting cases for different businesses during the internship period. They gain a lot of exposure during this period which helps them understand the practical aspect of things in the accounting domain.
Eligibility for CA internships
An internship for CA is very different from other internships, and the responsibilities assigned during the tenure are also greater. Unlike other internships, these are more like full-time jobs and span over three years. Not everyone preparing for the CA exams is eligible for the articleship under a CA. There are certain prerequisites to obtaining a CA internship. Before jumping into the eligibility criteria, let’s quickly understand the difference between direct route entry and foundation entry. Those pursuing CA through the CA foundation can become intermediate students in less than a year after completing the 12th board exams. In the direct entry case, a CA aspirant will become an intermediate student after graduation.
The foundation/CPT route entrants can apply for the internship after passing the Intermediate/ IPCC groups. It is important to note that they also have to complete the four-week Integrated Course on IT & Soft Skills (ICITSS) and the Orientation Course (OC). However, the direct route entrants can start their articleship/internship as soon as they register for the Intermediate/IPCC group and complete their four weeks of ICITSS and OC. The internship or articleship period is for three years and everyone pursuing CA must complete the same.
Tips for finding CA articleship/internships
Here are some practical ways to find a good CA articleship to gain practical knowledge and industry exposure.
- ICAI Articleship placement portal
The Institute of Chartered Accountants of India (ICAI) is the second-largest professional accounting body worldwide. ICAI has introduced an articleship placement portal to help CA aspirants find the right articleship with preferred CA firms in India. The students have to upload their CVs on the portal and wait for the CA firms to contact them regarding new opportunities for internship/articleship.
- Online professional social platforms
Social networking platforms like LinkedIn are a great way to find new articleship opportunities with reputed CA firms in the industry. Students can access a lot of information regarding new opportunities in real-time. In addition, they have the flexibility to apply for relevant opportunities at a firm of their choice.
- Personal networking
Personal networking can open a lot of new doors for you. Maintaining a healthy relationship with employees at CA firms can help you learn about new openings and opportunities. You can even provide a reference while applying for the internship. It can increase the chances of selection.
- Walk-in interviews
Many reputed CA firms arrange walk-in interviews to recruit candidates for jobs and articleship directly. Therefore, keeping a tab on walk-in updates can help find interesting opportunities for articleship.
Essential considerations for CA articleship
Here are some important considerations to be mindful of while choosing a CA firm for an internship.
- Interest areas and future plans
It is essential to find out your interest area before accepting internship offers from companies. Also, it is crucial to establish your future plans to find the right fit. For example, a big four CA firm is excellent for gaining expertise, but a small CA firm will offer more exposure if you start your own practice.
- Working hours and study leave
Knowing your working hours as an intern at a CA firm beforehand will help you plan things effectively. Preparing for CA final exams will require a reasonable amount of time. Therefore, discussing the study leaves with your seniors is essential.
