Audit News
PM CARES Fund Reports Rs 8452 Crore Balance as Spending Remains Minimal in FY 2024-25
19 August 2026 at 09:29The PM CARES Fund ended the financial year 2024-25 with a balance of around Rs 8,452 crore, according to audited financial statements made available on the fund's website. The figures have renewed public interest in the fund's receipts, expenditure,
ICAI Introduces New Tax Audit Count Tracking Feature on UDIN Portal
06 July 2026 at 09:16ICAI's UDIN Portal now features a dedicated Tax Audit Count Dashboard, allowing Chartered Accountants to monitor tax audit assignments, UDIN generation status, and remaining audit limits in real time.
ICAI Code of Ethics 2026 Recommends Digital-Only Payment of Audit Fees
04 June 2026 at 09:37ICAI's Code of Ethics 2026 recommends that chartered accountants and firms accept audit fees only through digital modes or banking channels, promoting transparency, accountability and professional integrity.
ICAI Releases Draft Panel for Appointment of Statutory Auditors of Co-operative Banks for FY 2026-27
05 May 2026 at 09:15ICAI releases Draft Panel for Statutory Auditors of State and Central Co-operative Banks for FY 2026-27. Check category, raise objections by May 8.
ICAI Expands Mandatory Applicability of AQMM: New Criteria Effective from April 2026
13 April 2026 at 09:12ICAI widens the scope of mandatory AQMM applicability, bringing more audit firms under review from April 2026. Check revised criteria and phased implementation details.
ICAI Defers Implementation of SQM 1 & SQM 2; SQC 1 to Continue Until Further Notice
02 April 2026 at 09:29ICAI has deferred the mandatory implementation of SQM 1 and SQM 2, originally effective from April 1, 2026. Until further notice, the existing SQC 1 standard will continue to apply to audit and assurance firms.
KPMG UK Plans Job Cuts: Up to 440 Audit Roles at Risk Amid Market Slowdown
30 March 2026 at 09:25KPMG UK plans potential layoffs impacting up to 440 audit employees amid low attrition and market slowdown. Nearly 600 staff are at risk as restructuring begins.
ICAI Releases Revised Guidance Note on Audit of Banks 2026: Key Updates for Auditors
18 March 2026 at 09:26ICAI releases Guidance Note on Audit of Banks 2026 with updated RBI norms, digital banking audit focus and enhanced compliance framework for auditors.
ICAI to implement 11 ISAS to Strengthen Digital Audits
26 February 2026 at 08:40The Institute of Chartered Accountants of India (ICAI) introduces 11 Information Systems Audit Standards (ISAs) to enhance audit quality and strengthen governance within India's fast-growing digital ecosystem.
ICAI Issues Exposure Draft of Guidance Note on Audit of Banks - 2026 Edition
14 February 2026 at 09:05ICAI releases Exposure Draft of Guidance Note on Audit of Banks (2026 Edition), aligning audit procedures with latest RBI KYC, digital lending, securitisation and treasury norms. Comments invited till February 23, 2026.
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