ICAI FAQ’s on UDIN certificate
ICAI has issued the FAQ’s on UDIN. Important issues related to UDIN are resolved by ICAI via this FAQ.
You can download the documents from the image below.
Main areas covered in the document are:
1. Introduction 1-3
2. Registration 4-6
3. Stakeholders/Third Party Verification 7
4. Certificates/Attestation Functions 8-13
5. GST and Tax Audit 14-18
6. Audit and Assurance Functions 19-25
7. Revocation/Cancellation of UDIN 26-27
8. Miscellaneous 28-30
9. Annexures A-1—A-79
Annexure 1: List of Engagement and Quality Control Standards issued by ICAI (Applicable as on April 1, 2019) A-3-6 Annexure 2 : SAE 3400 – The Examination of Prospective A-7-25 Financial Information
Annexure 3 : Illustration 5 of SA-700 (Revised), Forming an A-26-30 Opinion and Reporting on Financial Statements Annexure 4 : SRS 4100 (Revised) Compilation Engagements A-31-75
Annexure 5 : Notification on UDIN for Members of ICAI A-76-77
Annexure 6 : Announcement on UDIN for Members of ICAI A-78 -79
Disclaimer by ICAI
The UDIN System has been developed by ICAI to facilitate its members for securing the documents, reports, certificates signed/ certified/ issued by them so as to prevent the misrepresentation/forgery caused by NonChartered Accountants. The Portal provides ease of e-verification to the Regulators, Banks, other stakeholders etc. whereby they can verify the documents and ascertain the authenticity thereof as to whether such documents have been certified by full-time Practicing Chartered Accountants. However, ICAI assumes no responsibility of the certification / opinion / report issued / certified by the Chartered Accountants and the concerned Chartered Accountant shall alone be responsible therefor. Needless to mention that mere generation of UDIN in respect of any document/ report/ certificate would not make it authentic unless the applicable provisions of Code of Ethics, Accounting and Auditing Standards, Guidance Notes and other Guidelines/ Notifications issued by ICAI have not been complied with while certifying/issuing such document/ report/ certificate.
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