01.
Whether a member in practice can provide equity research service, and publish retail research report?
A.
A member in practice may be an equity research adviser and as per the entry appearing in Appendix (9) of CA regulations, 1988, a member in practice is permitted to publish a research report on their own behest.
02.
Whether a member in practice is allowed to become whole-time director of a company?
A.
No, members in practice are not allowed to become whole-time Director of a company generally. However, a member in practice may become a Managing Director or a whole-time Director of a body corporate subject to the Council Guidelines of Corporate Form of practice. Further, a member in practice may engage in Office of a Managing Director or a whole-time Director of a body corporate within the meaning of the Companies Act, 2013, provided that the member and/or any of his relatives do not hold substantial interest in such concern, after obtaining a specific permission from the Institute. However, the member in practice will not be allowed to perform attest function after obtaining such specific permission.
03.
Whether a member in practice owning intellectual property rights of domain names sell these domain names to some entity for earning royalty on the same?
A.
No, since the activity of selling domain names for earning royalty would amount to "other business/occupation", which is prohibited under Clause (11) of Part-I of the First Schedule to the Chartered Accountants Act, 1949.
04.
What shall the "Attest function" include for the purpose of Appendix (9) of CA Regulations, 1988?
A.
For the purpose of Appendix (9) of CA Regulations, 1988, attest function would cover services pertaining to audit, review, certification, agreed upon procedures and compilation as defined in the framework of statements on standard auditing practices and guidance notes on related services published in the July, 2001 issue of the Institute's Journal.
05.
Whether a member in practice is required to obtain prior permission to act as editor of journals?
A.
As per the Appendix-F of Volume-I of Code of Ethics, 2026, a member in practice can engage in business of editorship of journals including professional journals without permission. However, for editorship of journals other than professional journals, the member in practice is required to obtain prior and specific permission from the Institute and will not be able to perform attest functions.
06.
Whether a member in practice can become a Whole-Time Director or Managing Director in an IPE/RVE constituted as a company?
A.
A member in practice, being an Insolvency Professional or Registered Valuer, may become a Whole-Time Director or Managing Director in an IPE/RVE constituted as a body corporate within the meaning of the Companies Act, 2013, recognised by the Insolvency and Bankruptcy Board of India after obtaining a specific and prior approval from the Council and will be able to perform attest functions.
07.
Whether a member in practice can also practice simultaneously as an Actuary?
A.
No, the members in practice have not been permitted by the Council to practice as Actuary simultaneously.
08.
Whether a member in practice is permitted to be an athlete/play tournaments simultaneously along with holding certificate of practice?
A.
Since the activity of being an athlete/playing tournament is not covered under the Appendix (9) to the CA Regulations, a member in practice may only be an amateur athlete; however, it is not permissible for him to be a professional athlete.
09.
Can a member act as an Insurance Surveyor?
A.
As per Appendix (9) of CA Regulations, 1988, a member of the Institute in practice is generally permitted to act as a Surveyor and Loss Assessor under the Insurance Act, 1938, provided he is otherwise eligible. Such a member can perform attest functions.
10.
Can a member holding Certificate of Practice be entitled to own Agricultural land and continue agricultural activity?
A.
Yes, member holding Certificate of Practice can own and hold agricultural land and continue agricultural activity.
11.
Whether a member in practice is generally permitted to write script/story for a movie?
A.
A script/story for a movie may be based on a Book written by a member in practice. However, merely writing a script/story for a movie would not fall within the general permission provided under the Appendix (9) to CA Regulations, 1988. Such a member would require permission of the Council in this regard.
12.
Whether a member in practice can enter into transactions in securities?
A.
Yes, as per Appendix (9) of CA Regulations, 1988, a member can enter into a transaction in securities provided in case of commodity derivatives; only such transactions which are settled on cash basis can be entered into.
13.
Can a member in practice act as head examiner for any examination?
A.
Yes, as per Appendix (9) of CA Regulations, 1988, a member in practice can be engaged in valuation of papers, acting as paper-setter, head-examiner or a moderator for any examination without taking permission and will continue to be able to perform attest functions.
14.
Can a member in practice engage in full time or part time employment in business concerns?
A.
A member in practice can engage in full time or part time employment in business or non-business concerns as per Appendix (9) of CA Regulations, 1988, after obtaining a specific and prior approval from the Council of ICAI and will not be able to perform attest functions. However, for engaging in full time or part time employment in business concerns, the member and/or his relatives should not hold substantial interest in such concerns.
