ICAI further extends validity of Peer Review Certificate in the wake of COVID-19 spurt across the country



Quick Summary
The Institute of Chartered Accountants of India (ICAI) has extended the validity of Peer Review Certificates for practice units. This extension is a direct response to the ongoing COVID-19 pandemic and its impact across the country. Certificates originally expiring between 1st July 2021 and 31st July 2021 will now remain valid until 31st August 2021, provided no prior extension was claimed.

The Institute of Chartered Accountants of India, keeping in view the COVID-19 spurt across the country, has further granted relief to practice units by extending the expiry date of peer review certificate having original expiry date falling anytime from 1st July 2021 to 31st July 2021 till 31st August 2021. Read the official announcement below:

Peer Review Board
The Institute of Chartered Accountants of India
22nd July, 2021

ANNOUNCEMENT

ICAI Extends Peer Review Certificate Validity Due to COVID-19

Sub: Further extensions regarding the validity of Peer Review Certificate in the wake of COVID-19 spurt across the country (22-07-2021)

In view of the fact that the pandemic is still continuing and several parts of the country are under partial lockdown and considering the requests received in this regard, the Board has decided to grant relief to the practice units by extending the expiry date of peer review certificate having original expiry date falling anytime from 1st July 2021 to 31st July 2021 till 31st August 2021 i.e. cases where no extension benefit has been availed as per any of the earlier announcements of the Board.

However, in case where reviewer has already submitted the report in respect of a Practice Unit falling in aforesaid category, which is considered by the Board and found complete upto 31st August, 2021 the peer review certificate shall be issued in continuation of previous certificate.

Chairman,
Peer Review Board

FAQ :

The ICAI is extending the validity of Peer Review Certificates for practice units.

The extension is in response to the continuing COVID-19 pandemic and partial lockdowns in various parts of the country.

Certificates with an original expiry date falling anytime from 1st July 2021 to 31st July 2021 are eligible, provided no previous extension has been taken.

The validity of eligible Peer Review Certificates is extended until 31st August 2021.

If a reviewer has submitted a report for a practice unit in the specified category, and it's considered complete by the Board up to 31st August 2021, the peer review certificate will be issued in continuation of the previous one.




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