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Unhedged foreign currency exposure (ufce)
Dear all,
Request your help for the below query:
1. Are statutory auditors supposed to issue any certificate separately on UFCE of an enity? (Ref: RBI circular dated 3-June-2014)
2. Read in article that RBI has approached ICAI for assistance regarding UFCE. Has ICAI issued any format for that?
Kindly help
Thanks
Replies (2)
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There is no specific requirement for statutory auditors to issue a separate certificate on the Unhedged Foreign Currency Exposure (UFCE) of an entity. The role of statutory auditors is primarily focused on auditing the financial statements of an organization to express an opinion on their fairness and compliance with accounting standards and regulations.
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