cpc

cs and cfo

Legal

A  Person who is a member of ICSI and also of ICAI  can be appointed as a CS and CFO of a Company. 
Is it allowed to hold two positions at one time?

 
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Advocate

He can even be appointed as a Peon-cum-Clerk-cum-CS-cum-CFO.  There is no illegality about it.

 
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Legal

Sir are you sure?

 
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Advocate

What is there to doubt about?

What in your opinion, a person appointed as CS and CFO would be doing - which according to you may not be legal / permissible?

If you have something in your mind, why you think it is illegal and if you do not come out with facts, it will not be possible to clarify your doubt.

 
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Advocate

Members 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 within the meaning of the Companies Act, 1956. 

Subject to the Council Guidelines of Corporate Form of practice. No, in terms of Clause (11) of Part I of First Schedule to the CA Act , in general, a Chartered Accountant in practice is not permitted to engagein any business or occupation other than the profession of Chartered Accountancy.

However, thereare following exceptions to it:- 1. A Chartered Accountant can be a director of a company (notbeing a managing director or a whole time director), unless he or any of his partners is interestedin such company as an auditor. 2. A Chartered Accountant in practice may engage in any businessor occupation with the permission granted in accordance with a resolution of the Council. 

 
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