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The Institute of Internal Auditors - India Membership  
     
  CORPORATE SPONSORED MEMBERSHIP (CSM)  
  Terms & Conditions  
 

Eligibility
Any Corporate organisation in India (hereafter called the 'Organisation') having an established Internal Audit activity/department with at least two employees and desirous of enrolling them, and their substitutes from time to time, each of whom must be eligible for admission as member of IIA-I under its existing categories of individual membership viz., ("Member" or "Associate Member") is eligible to apply under the CSM scheme.

Individuals nominated by the Organisation will be required to verify their eligibility and declare their adherence to IIA's code of ethics, a copy of which will be supplied by IIA- to the organisation. It will also receive, free of charge, one copy each of IIA's "Statement of Responsibilities of Internal Auditing" and "Standards for the Professional Practice of Internal Auditing" which it may reproduce at its cost solely for the purpose of making these available to the individual members of IIA-I sponsored by it from time to time.

Applications for Membership
The organisation desiring to sponsor its eligible individual nominees for membership under the CSM category shall submit their applications in duplicate in the prescribed form, which is available from the chapters of IIA-I, the applicable admission fee and the first annual subscription to the chapter of IIA-I (currently there are five Chapters at, in order of their formation, Mumbai, Bangalore, Delhi, Kolkata and Chennai) of which it desires those individuals to be members, and specify the addressee to whom all communications for the sponsoring organisation as well as the nominated individual members should be addressed by IIA-I.

The Chapter of IIA-I to which the application is made, in liaison with the office of IIA-I as required will process the application and record the membership of the eligible sponsored individuals and commence providing them (through the organisation) the services available to members.

Fee Structure
(Amount in Rupees)
Category No. of Members Admission Fee   Annual Fee (1st Jan - 31st Dec.)
I 1-5 5,000/-   5000/-
II 6-20 12,000/-   5000/- + 900 per member above 5
III 21-above 18000/-   18,500 + 800 per member above 20

Substitution of Sponsored Members by the Organisation
An organisation desiring to withdraw the name of any of its nominee and substitute its by that of another eligible individual employee may do so, and such substitution shall take effect from the start of the next accounting year of IIA-I following the receipt of such intimation, without payment of further admission fee for such substitute, provided the organisation had submitted the substitute's application form referred to in para 2 along with the declaration referred to in a para 1(2) and a transfer registration fee of Rs.50 in respect of each such substitution.

Membership Certificate
IIA, through the concerned chapter, will issue only one membership certificate to the organisation, with an accompanying list of individual members and their respective membership numbers.

Reduction in Number of Nominated Individuals
Deletions (without substitution) of names of nominees will be effected on written intimation by the organisation, but no refund of annual subscription will be made.

Increase over Maximum Number of Nominies under each Sub Category
When an organisation nominates an individual for membership over the maximum number under its then applicable Sub-Category, so as to come under some other Sub-Category, the organisation shall pay the excess of the admission fee payable under that other Sub-Category over that earlier paid.

All mail to one address Intimated by the Organisation
All communications and mail, including publications, intended for individual members admitted under the CSM category will be sent to one addressee designated by the organisation which shall solely responsible for forwarding its nominated individual members unless otherwise specified in the application.

Status of Individual Member on withdrawl of Sponsorship by the Organisation
An individual nominated by an organisation and admitted to membership shall cease to be a member if his nomination is withdrawn, whether or not substituted by that of another eligible individual, but he may apply to IIA-I to continue as an individual member, in his own right, by paying appropriate admission fee and subscription.

Amendment of these Terms & Conditions
IIA-I and its chapters reserve the right to amend the Terms & Conditions of its CSM Category Membership as and when they think fit; provided that not such amendment that adversely affects rights vested in an organisation of its sponsored individual members subsisting at the time should have retrospective effect.

 
     
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