Peer Review Board
The Institute of Chartered Accountants of India
25th February, 2022
ANNOUNCEMENT
DECLARATION FORM
Peer Review Mandate – Phase I
In furtherance to the Announcement ‘Peer Review Mandate – Roll Out‘ dated 12.02.2022 hosted at https://www.icai.org/post/peer-review-mandate-roll-out , the firms falling under Phase I of the roll out will be required to submit a declaration form https://forms.office.com/r/AA5Zpgdsrr by March 31, 2022.
It may be reiterated that phase I for which mandate is applicable from April 1, 2022 covers firms which have undertaken Statutory Audit of enterprises whose equity or debt securities are listed in India or abroad as defined under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Secretary,
Peer Review Board
Regarding criteria for Peer Review under ICAI.
Is it obligatory for Chartered Accountants practice unit to have Peer Review Certificate for conducting Statutory Audit of entities having Net Worth of over Rs.5 Crores or an annual turnover of more than Rs. 50 crores ??