CA Rakesh Ishi
UDIN is one of the landmark reforms of ICAI in the world to conceptualize the concept of UDIN. UDIN is mandatory from 1st Feb 2019 for all certificates certified by CAs. UDIN is an 18 digits system generated unique number for every document certified/ attested by Full time CA. Financial documents/ certificates attested by Non-CAs misleading the Financial Authorities and shareholders of the Company.
The objective is to curb the malpractices of certifications by Non-CAs. UDIN enables users to check the authenticity of certificates, Reports and documents through the UDIN Portal.
Do's
1. UDIN has been made mandatory for all kinds of certifications, GST and Tax Audit Reports and Other Audit Assurance and Attestation functions.
2. Only CA with full-time practice can register on UDIN Portal to generate UDIN
3. It is recommended that UDIN is to be generated at the time of signing the documents. However as per SQC-1 and SA230 the same can be generated within 60 days from date of signing such documents.
4. Authorities/Regulators/Banks can verify the UDIN giving certain details from documents for which UDIN is verified.
5. UDIN generated by the members can be tracked through a list of UDIN on the Portal.
6. For generating UDIN, Document type is selected as Certificates, entering financial figures/values in case of no financial figures enter 0 it should clarify that no financial value is available in description.
7. UDIN is applicable for both manual and digitally signed certificates such MCA forms, AOC 4, MGT 7 etc. UDIN generated to be communicated to the management or concerned person.
8. No separate UDIN for each assignment and is to be used for all documents under the assignment.
9. A provision incorporated in the UDIN Portal using the UDIN can be generated in Bulk up to 300 certificates in one go.
10. UDIN is mandatory even in cases where Tax Audit Reports and GST Audit Reports issued for a prior period and are issued after such date.
11. UDIN is only required for Tax Audit not for financial statements for which no audit is required under any statute.
12. Incase of errors identified after upload of documents please ensure that correct documents with the new UDIN are uploaded.
13. Forms uploaded without UDIN or fails to update the UDIN will be treated invalid with all due consequences of law.
14. UDIN is applicable to both SCAs and SBAs for Bank (Branch) Audit Report and Tax Audit Reports while conducting Bank (Branch) Audit.
15. UDIN is required on Stock Audit.
16. Generated UDIN has no expiry, unless revoked.
Don'ts
1. Only the signing partner has to generate UDIN and not by any other partner of the partnership firm. No firm can register on the UDIN Portal.
2. Incase of assignment signed by more than one partner, then all such signing partners generate UDIN separately.
3. A part-time COP member cannot generate UDIN since he cannot certify the documents.
4. No Documents uploaded on UDIN Portal for generating UDIN.
5. No details of clients to be mentioned in UDIN Portal.
6. UDIN is not required for Certified True Copies since it is not an attestation function.
7. Instead of certifying ITR for Bank loan purposes, Members advised to certify the source and authenticity of data from which ITR is prepared.
8. UDIN not required for the resignation of Auditor. Also not required for NOC from the previous auditor.
9. A separate UDIN is required to be generated for MAT ( Minimum Alternate Tax) Audit Report in Form 29B.
10. Same UDIN to be mentioned in all the forms such as 3CA/3CB/3CD.
11. One UDIN to be mentioned in all the annexures, if they are part of the Report.
12. Incase of UDIN revoked after its acceptance, the Form submitted with UDIN will be treated invalid on the date of revoked.
13. In case of NBFC Audit also separate UDINs are required for Audit Report and Certificates issued from time to time during the year even if accepted as one assignment.
14. UDIN is required for consolidation of Financial Statements. However separate UDINs are required for Standalone and Consolidated Financial Statements.
15. UDIN is not required on Peer Review Report
16. UDIN is not required for CA Examination Form, Marksheet of CA students, Documents.
17. UDIN is to be generated once, only for Original. In case, duplicate certificate is being issued the same UDIN is to be mentioned.
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