CA, CS, CMA : Explore the overview, process, and benefits of ICAIs Peer Review for assurance services. Learn the requirements, compliance, and i...
CA, CS, CMA : Stay informed about the extended applicability of Peer Review Mandate for Practice Units by ICAI. Learn about the revised criteria...
CA, CS, CMA : Institute of Chartered Accountants of India has announced the further deferment of the second phase of the Peer Review Mandate. Le...
CA, CS, CMA : ICAI defer the applicability of the second phase of Peer Review mandate by three months to be made effective from July 1, 2023 ...
CA, CS, CMA : The Practice Units may note that the Peer Review Certificates issued by the Peer Review Board to Practicing Units (PUs) in the pas...
CA, CS, CMA : (a) statutory audit of unlisted public companies having paid-up capital of not less than rupees five hundred crores or having annu...
Stay informed about the extended applicability of Peer Review Mandate for Practice Units by ICAI. Learn about the revised criteria and deadlines here.
Explore the overview, process, and benefits of ICAIs Peer Review for assurance services. Learn the requirements, compliance, and impact on professional growth.
Institute of Chartered Accountants of India has announced the further deferment of the second phase of the Peer Review Mandate. Learn more about the new applicability date and prerequisites for Practice Units.
ICAI defer the applicability of the second phase of Peer Review mandate by three months to be made effective from July 1, 2023
The Practice Units may note that the Peer Review Certificates issued by the Peer Review Board to Practicing Units (PUs) in the past till April 16, 2015 mentioned the date of issuance of certificate, however, the date till which the certificate is valid is not mentioned on the Certificate.
(a) statutory audit of unlisted public companies having paid-up capital of not less than rupees five hundred crores or having annual turnover of not less than rupees one thousand crores or having, in aggregate, outstanding loans, debentures and deposits of not less than rupees five hundred crores as on the 31st March of immediately preceding financial year or (b) attestation services and having 5 or more partners
It was clarified that holding a valid Peer Review certificate by Practice Units (referred to as ‘firms’ in the Announcement dated 12.02.2022) should be a pre requisite for undertaking audit of all entities falling under phase I; II; III and IV of the mandate from respective dates of mandate becoming operative.
It was clarified that holding a valid Peer Review certificate by Practice Units (referred to as ‘firms’ in the Announcement dated 12.02.2022) should be a pre requisite for undertaking audit of all entities falling under phase I; II; III and IV of the mandate.
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.
Realising the extent of wide range of the Practice units, some of which have multiple branches located in different parts of the country while others may be operating only at sole proprietor level, the roadmap has classified Practice Units into four categories and prescribed the implementation of peer review process over a four year time period.
