Institute of Chartered Accountants of India  made UDIN mandatory with effect from 1st February 2019 to curb the very malpractice of fake certificate issuance by ICAI non members. As per Institute’s website “It was noticed that financial documents/ certificates attested by third person misrepresenting them as CA Members are misleading the Authorities and Stakeholders”. ICAI in past received number of complaints of signatures of CAs being forged by non CAs. To curb the malpractices, ICAI has implemented in phased manner an innovative concept of UDIN i.e. Unique Document Identification Number.

ICAI also issued UDIN FAQ’s which are available at below Link:

https://udin.icai.org/faqs

Unique Document Identification Number (UDIN) is 18-digit system generated number for every document certified/attested by Practicing Chartered Accountants.

The 18-digit UDIN will be in a format of – YY MMMMMM AANNNAANNN.

Where, first two digits are YY – Last 2 digit of financial year (for Year 2019 it will be 19)

Next six digits are MMMMMM – ICAIs Membership number (for eg. 528X25)

Next ten digits are AANNNAANNN – Alpha Numeric combination generated randomly by system

It is mandatory to obtain UDIN for all certificates issued where the Financial Information/related contents is certified as True and Fair/True and Correct. A dropdown illustrative list of certificates is available at link provided above. UDIN is However, not applicable on number of items and will be later covered in Phased Manner. Illustrative list of Items where UDIN is not applicable is provided below:

  • Auditor’s Opinion/Reports issued by the Practicing Chartered Accountant under any statute w.r.t. any entity or any person (e.g. Tax Audit, Transfer price audit, VAT Audit, Company Audit, Trust Audit, Society Audit etc.)
  • Valuation Reports
  • Quarterly Review Reports
  • Limited Review Reports
  • Information System Audit
  • Forensic Audit
  • Revenue/Credit/Stock Audit
  • Borrower Monitoring Assignments
  • Concurrent/Internal Audit and the like
  • Any report of what so ever nature including Transfer Price study report, Viability study report, Due Diligence Report, Management Report etc.

Brief FAQs for the same is available at link provided above. Member’s can also submit their queries at udin@icai.in or alternatively call @ 011-30110480.

Tags:

Author Bio

Qualification: CA in Practice
Company: MASAR and Co
Location: Delhi, New Delhi, IN
Member Since: 23 Feb 2018 | Total Posts: 2

My Published Posts

More Under CA, CS, CMA

Leave a Comment

Your email address will not be published. Required fields are marked *