The Institute of Chartered Accountants of India ( ICAI ) has mandated Unique Document Identification Number ( UDIN ) from 1st July 2019 for all Audit/Assurance/Attest function.
It has been noticed by the Institute of Chartered Accountants of India that Financial Documents / Reports / Certificates are being signed by Non-CAs misrepresenting themselves as CA Members thereby misleading the Regulators, Authorities and Stakeholders.
To curb this menace and malpractices, ICAI has conceptualised and implemented an innovative concept called Unique Document Identification Number (UDIN). ICAI at its 379th Council Meeting held on 17th – 18th December 2018 made the generation of UDIN mandatory for every signature of Full time Practising Chartered Accountants in a phased manner for the following services:
Therefore, UDIN is being made mandatory for all Audit and Assurance Functions like Documents and Reports certified/issued by full time Practising Chartered Accountants from 1st July 2019
Members are being advised to plan the Audits and Assurance functions accordingly as UDIN has to be generated on the date of signature dates of Certificates / Report / Audit Reports although a 15 days window is there for exceptional circumstances.
Further, non-compliance of UDIN directive may attract Disciplinary Proceedings as per Clause 1 of Part II of Second Schedule of The Chartered Accountants Act, 1949.
