Audit News

CA Firm's Re 1 Audit Fee Sparks Nationwide Debate on Audit Standards and Professional Ethics

29 September 2025 at 10:30

Chandra Gupta & Associates' Re1 statutory audit bid for NHAI subsidiary raises questions on audit quality, fee sustainability, and professional ethics in India...

Posted in Audit | 7899 Views

ICAI Expands Mandatory Scope of Audit Quality Maturity Model (AQMM) and Introduces Public Disclosure of AQMM Levels

12 August 2025 at 08:39

ICAI widens AQMM v2.0 scope from April 2026, adds more audit firms under mandatory compliance, and begins public disclosure of AQMM levels.

Posted in Audit | 720 Views

ICAI Issues Comprehensive Checklist for Certificates Issued by Chartered Accountants

11 August 2025 at 08:48

ICAI's Centre for Audit Quality issues an essential checklist for certificates by Chartered Accountants, ensuring compliance, accuracy and professional quality standards.

Posted in Audit | 33009 Views

ICAI Reconstitutes Expert Panel to Address Statutory Audit Queries pertaining to Auditing Aspects

12 July 2025 at 08:47

ICAI'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.

Posted in Audit | 1680 Views

ICAI Issues FAQs on Guidance Note on Financial Statements for Non-Corporate Entities

09 July 2025 at 09:10

ICAI 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.

Posted in Audit | 14136 Views

ICAI Mandates Disclosure of Auditor's Opinion While Generating UDIN for GST & Tax Audits

23 June 2025 at 09:21

With 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'.

Posted in Audit | 8190 Views

ICAI to Limit Tax Audits to 60 per Partner from FY27

18 June 2025 at 10:16

The 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.

Posted in Audit | 8598 Views

ICAI Releases Draft Panel for Appointment of Statutory Auditors for State and Central Co-operative Banks for FY 2025-26

05 June 2025 at 09:21

ICAI 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.

Posted in Audit | 5472 Views

ICAI Signs MoU with CAG to Boost Capacity of PSU Audit Officers

22 April 2025 at 08:30

ICAI and CAG Join Hands to Strengthen Capacity of PSUs Audit Officers

Posted in Audit | 2313 Views

ICAI Releases Exposure Draft of Standards on Auditing for LLPs, Invites Public Comments

11 April 2025 at 08:48

The 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

Posted in Audit | 2454 Views