Audit News

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 | 4992 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 | 4605 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 | 7683 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 | 624 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 | 7767 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 | 651 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 | 32751 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 | 1674 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 | 14010 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 | 8148 Views