The Institute of Chartered Accountants of India (ICAI), being a proactive regulator of accountancy profession in India, has conceptualized and developed an innovative concept of Unique Document Identification Number (UDIN) under which a unique number is now generated for every document certified/attested by a Chartered Accountant in practice and registered with the UDIN portal. UDIN has led to stoppage in issuance of financial statements and certificates/documents by third persons (who are not Chartered Accountants) in lieu of ICAI members thereby aiding the regulators, banks and other stakeholders who rely upon the certificates /documents issued by Chartered Accountants.
ICAI has mandated UDIN for all practicing Chartered Accountants in a phased manner as follows:
For all Certificates w.e.f. 1st February, 2019.
For all GST and Tax Audit Reports w.e.f. 1st April, 2019.
For all other Audit, Assurance and Attestation functions w.e.f. 1st July, 2019.
UDIN is an important step in ushering transparency and combat malpractices in the industry. The regulators, banks and other third part stakeholders having UDIN number, on a single click, can verify the credentials of Chartered Accountant and can authenticate that the documents issued by a CA only.
Through UDIN we are moving ahead towards transforming and reinvigorating the profession as one of the strongest pillars of nation building, a role we have donned for more than 70 years now and will continue to play a strategic role for economic development of our Country.
In an endeavor to facilitate the members and regulators in smooth generation and verification of UDIN, the ICAI under the aegis of UDIN Monitoring Group has come out with this booklet to provide guidance in the form of FAQs.