Page 167 - Quick Insights Book 2022

Ann. 14 – Revised Guidelines of Network

5. Name and address of the firm(s) willing to enter/ exit into/ from the Alliance
Name and address of Firm(s) Firm Registration No.

1. _________________ __________________
2. _________________ __________________
3. _________________ __________________

4. _________________ __________________
6. Date of change in the constitution:
7. We hereby declare that the above firm(s) propose to enter/exit into/from the Alliance in accordance with the Guidelines
for Alliance amongst the firms registered with the Institute of Chartered Accountants of India and further affirm and the
confirm that the partners signing the application have been duly authorized by the other partners of the respective firms.

Place : ……………………… Name(s) with Membership No(s).
and signature(s) of duly authorized
Date : ……………………… Partner(s)/Proprietor(s) of the firms
Instruction: A copy of the authorisation to be filed with the ICAI by the partners signing the declaration on behalf of the
firms.
ANNEXURE II 2.3 Any specific regulations applicable to the respective
THE GUIDELINES FOR NETWORKING (REVISED) constituents of the Network will continue to apply. The
Networking Guidelines do not intend to override specific
1. Short Title & Commencement regulations applicable to such entities.
(i) These guidelines may be called “The Guidelines 3. Definitions
for Networking‟, hereinafter referred as “The
Networking Guidelines‟. In the Networking guidelines, unless there is anything repugnant
in the subject or context, --
(ii) The Networking Guidelines have come into force
on the 9th February, 2021. (a) Act – “Act” means The Chartered Accountants Act, 1949.

(b) Code of Ethics – “Code of Ethics” means the Code
2. Objective
of Ethics issued by the ICAI and relevant Council
2.1 The objective of the Networking Guidelines is to provide Guidelines.
a framework for a firm of Chartered Accountants seeking (c) Cooperation - “Co-operation” means the act of
benefits from networking, such as:
working or acting together for a common purpose or
• Wider co-operation amongst the professionals benefit.

• Sharing of common name of Network, if desired (d) Council – “Council” means the Council of the ICAI.
by Network firms, and to showcase their combined (e) Entity - “Entity” means a sole proprietor firm, partnership
strength for securing professional work.
firm, limited liability partnership, or any such form of
• Pooling of knowledge, guidance, training, resources entity as may be permitted by law and in the context
and infrastructure. of the Networking Guidelines, would comprise of those
registered with the recognized professional body in India,
• Wider professional reach i.e., The Institute of Chartered Accountants of India
• Sharing of methodologies, practices, strategy etc., (f) ICAI – “ICAI” or the “Institute” means the Institute of
in domestic and international markets Chartered Accountants of India.
• Referral practices (g) Member – “Member” means a Member of the ICAI as

• Wider geographical presence defined in Section 2(x) of The Chartered Accountants
Regulations, 1988.
2.2 The objective of the Networking Guidelines is not to
establish/ generate a Network, when it is not intended (h) Network - “Network” means a larger structure of a group
to do so. A Network will only be recognized, if registered of Indian CA Firms that have come together for mutual
with the ICAI, as mentioned in para 6 hereinbelow. benefits by pooling resources, showcase their combined

154 Quick Insights on Professional Opportunities for Chartered Accountants