What are the levels for Training Partners?
Training Partners are recognized at two levels as per the requirements of the Practical Training Guide to ensure the completion of quality practical training of students.
This is the initial level of training partners and once you get the approval for this you can provide practical training for trainees at Certificate Level.
Strategic Level
After the review of certificate level training, the organisation will be upgraded to Strategic level upon request.
Criteria to recognise a Training Partner
Non-public Practice Organisations- Certificate Level
Any Non-public Practice organization can apply to be recognised as a training partner at Certificate Level if they satisfy the following basic requirements.
- Presence of fulltime Member/s in the organization
- Availability of a Member for direct supervision of trainees.
- However under exceptional circumstances where an organization has a member who can effectively allocate and supervise the tasks of the trainee, even without a direct organizational relationship to such a trainee, this can be permitted on a case by case basis.
- Existence of a satisfactory organizational structure with at least five fulltime accounts personnel in the Finance Division.
- Ability to provide training at the Internal Audit Division or Finance Division of the organization in order to obtain required practical training in specified experience categories.
- Availability of in-house IT facilities with a computerized accounting application.
Non-public Practice Organisations- Strategic Level
In addition to the above, the following requirements need to be satisfied/ and or are expected for Strategic Level
- Have obtained approval for Certificate Level and have at least one trainee.
- The Finance Division and the Internal Audit Division of the organization is structured in a manner that can rotate trainees within different functions periodically.
- If there is no Internal Audit Division to provide the minimum training required in auditing, ability to substitute that with the training in Financial Management.
- Willing to allow students a period of paid/no pay study leave as recommended by the Committee.
Public Practice Organisations- Certificate Level
Any Public Practice organization can apply for recognition as a training partner at Certificate Level if they satisfy the following basic requirements.
- Ability to provide sufficient practical training in the fields of auditing, accounting, taxation, use of information technology and any other advisory/consulting services.
- Ability to cover at least four of the following categories: manufacturing, international trading, local trading, agriculture, construction and services through the assignments.
- If the approval is sought by a sole-proprietorship in public practice, another approved Training Organization in Public Practice should provide consent to accept all on-going Training Agreements in the event of prolonged absence of the Member of the sole-proprietorship.
- Willing to allow students a period of paid/no pay study leave as recommended by the Committee.
