Audit News

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 | 7188 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 | 8424 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 | 5202 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 | 2295 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 | 2406 Views

ICAI Launches Online Panel for Bank Branch Audit Queries

02 April 2025 at 08:46

With the bank audit season approaching, the Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has announced the launch of an Online Panel of Experts to assist members with bank branch audit-relate

Posted in Audit | 1908 Views

ICAI organised Statutory Central Auditors' Meet 2025-26

28 March 2025 at 08:42

The Institute of Chartered Accountants of India (ICAI), through its Professional Development Committee, successfully organized the Statutory Central Auditors' Meet 2025-26 on 24th March, 2025, in Mumbai.

Posted in Audit | 321 Views

Supreme Court Allows NFRA to Continue Proceedings Against CAs, but Restricts Final Orders

25 March 2025 at 08:32

In a crucial development impacting India's audit and accounting sector, the SC has permitted the NFRA to proceed with disciplinary cases against CAs and audit firms even where no AQRRs have been prepared and final orders are yet to be passed.

Posted in Audit | 3195 Views

ICAI Releases Guidance Note on Audit of Banks - 2025 Edition

19 February 2025 at 08:36

The Auditing and Assurance Standards Board (AASB) of the Institute of Chartered Accountants of India (ICAI) has released the Guidance Note on Audit of Banks (2025 Edition). This annual publication serves as a comprehensive resource for auditors condu

Posted in Audit | 1746 Views

Parliamentary Panel Questions MCA on NFRA's Performance, Budget Utilisation & Audit Oversight

18 February 2025 at 08:53

The Standing Committee on Finance, chaired by BJP MP Bhartruhari Mahtab, has sought detailed written responses from the Ministry of Corporate Affairs (MCA) regarding the functioning of the National Financial Reporting Authority (NFRA)

Posted in Audit | 594 Views