Audit News

ICAI Defers Phase IV of Peer Review Mandate to 31st December, 2026

01 January 2026 at 07:18

ICAI defers Phase IV of Peer Review mandate by one year. Peer Review for CA firms auditing PSB branches or having 3+ partners now mandatory from 31 Dec 2026.

Posted in Audit | 1383 Views

ICAI Invites Public Comments on Draft Information Systems Audit Standards (ISAS)

27 December 2025 at 06:45

The Institute of Chartered Accountants of India (ICAI) has invited public comments on the Exposure Draft of Information Systems Audit Standards (ISAS). Stakeholders can submit feedback till January 25, 2026.

Posted in Audit | 330 Views

NFRA Rolls Out Audit Practice Toolkits and Survey 2025 to Support Small & Medium Audit Firms

04 December 2025 at 06:59

NFRA launches nationwide outreach programmes and its first-ever Audit Firms Survey 2025, introduces 'Audit Practice Toolkits' and strengthens audit quality through revised standards, inspections, and capacity-building initiatives.

Posted in Audit | 6675 Views

ICAI Clarifies Auditor's Opinion Requirements in New UDIN FAQs

27 October 2025 at 06:33

ICAI releases FAQs clarifying when an Auditor's Opinion is mandatory under the UDIN system. The guidance outlines cases for GST, Tax Audits and other assurance functions, ensuring compliance with auditing standards and reporting consistency.

Posted in Audit | 6039 Views

Centre Likely to Relax Advertising Rules for Chartered Accountants

25 October 2025 at 10:22

ICAI to propose changes easing advertising rules for CAs, boosting visibility, growth, and competitiveness of domestic audit and consultancy firms.

Posted in Audit | 5013 Views

ICAI Tightens Fraud Detection Norms for Financial Statements with Stricter Review Parameters

25 October 2025 at 06:18

ICAI has tightened fraud detection norms with new financial review parameters for FY24, focusing on high-risk companies, insolvency cases, and stricter scrutiny through its Financial Reporting Review Board (FRRB).

Posted in Audit | 7920 Views

ICAI Invites Comments on Exposure Drafts of New Standards on Internal Audit (SIAs)

17 October 2025 at 05:42

ICAI's Internal Audit Standards Board invites comments on Exposure Drafts of new Standards on Internal Audit (SIAs) and Quality Standards (QSIAs). Last date to submit feedback: October 23, 2025.

Posted in Audit | 714 Views

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 | 7887 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 | 714 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 | 32955 Views