Audit News
CA Firm's Re 1 Audit Fee Sparks Nationwide Debate on Audit Standards and Professional Ethics
29 September 2025 at 10:30Chandra Gupta & Associates' Re1 statutory audit bid for NHAI subsidiary raises questions on audit quality, fee sustainability, and professional ethics in India...
ICAI Expands Mandatory Scope of Audit Quality Maturity Model (AQMM) and Introduces Public Disclosure of AQMM Levels
12 August 2025 at 08:39ICAI widens AQMM v2.0 scope from April 2026, adds more audit firms under mandatory compliance, and begins public disclosure of AQMM levels.
ICAI Issues Comprehensive Checklist for Certificates Issued by Chartered Accountants
11 August 2025 at 08:48ICAI's Centre for Audit Quality issues an essential checklist for certificates by Chartered Accountants, ensuring compliance, accuracy and professional quality standards.
ICAI Reconstitutes Expert Panel to Address Statutory Audit Queries pertaining to Auditing Aspects
12 July 2025 at 08:47ICAI's Auditing and Assurance Standards Board has reconstituted its Expert Panel to address members' statutory audit queries for the 2025 audit season. The panel will offer technical guidance from 11th July to 30th September 2025.
ICAI Issues FAQs on Guidance Note on Financial Statements for Non-Corporate Entities
09 July 2025 at 09:10ICAI has issued FAQs on Guidance Note for financial statements of non-corporate entities, effective April 1, 2024, introducing standardised formats, revised classifications, and exemptions for MSMEs.
ICAI Mandates Disclosure of Auditor's Opinion While Generating UDIN for GST & Tax Audits
23 June 2025 at 09:21With immediate effect, members will now be required to mandatorily provide details of the Auditor's Opinion while generating UDINs under the categories of 'GST & Tax Audit' and 'Audit & Assurance Functions'.
ICAI to Limit Tax Audits to 60 per Partner from FY27
18 June 2025 at 10:16The ICAI will cap tax audits at 60 per partner annually starting FY27 to reduce audit concentration among senior partners and enhance audit quality across firms.
ICAI Releases Draft Panel for Appointment of Statutory Auditors for State and Central Co-operative Banks for FY 2025-26
05 June 2025 at 09:21ICAI has released the Draft Panel for the Appointment and Re-appointment of Statutory Auditors for State Co-operative Banks (StCCBs) and Central Co-operative Banks (CCBs) for the financial year 2025-26.
ICAI Signs MoU with CAG to Boost Capacity of PSU Audit Officers
22 April 2025 at 08:30ICAI and CAG Join Hands to Strengthen Capacity of PSUs Audit Officers
ICAI Releases Exposure Draft of Standards on Auditing for LLPs, Invites Public Comments
11 April 2025 at 08:48The Institute of Chartered Accountants of India (ICAI), through its Auditing and Assurance Standards Board (AASB), has released an Exposure Draft of Standards on Auditing (SAs) for Limited Liability Partnerships (LLPs). This marks a significant miles
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