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Frequently-Asked Questions (FAQs) Whatis Unique Document Identification Number (UDIN)? Unique Document Identification Number (UDIN) is a unique number, which will be generated by the system for every document certified/ attested by a Chartered Accountant and registered with the UDIN portal available at https://udin.icai.org/.   Whatis the Algorithm of UDIN? Algorithm of UDIN comprises of the following:   TheMembership Number of the Member attesting the document/ certificate.   TheDate (dd/mm/yy) when certificate is issued.   TheDocument Serial Number allotted automatically by system. 15 Digit UDIN X X X X X X / X X X X X X / XXXX Six Digit Membership No Six Digit Date (DDMMYY) System Generated document serial number   WhyUDIN? It has been noticed that financial statements and documents were being certified/ attested by third persons, in lieu of Chartered Accountants. As these statements are being relied upon by the authorities as true statements and certificates, UDIN can be generated by a practicing CA by registering his/her documents/ certificates on UDIN Portal for verification. Whocan generate UDIN? A practising Chartered Accountant can generate a UDIN for certificate/ document attested by him either in individual capacity or as a partner. WhetherUDIN is mandatory for the CA members of ICAI for each certification done? At present, this facility is recommendatory. But ICAI is mulling to make the same compulsory in near future, so as to curb the menace of fake or forged documents. Whatis the link to crosscheck whether the certificate number so indicated is valid? The               Certificate              Number               can               be               cross              checked               at https://udin.icai.org?mode=searchudin Howmany UDINs can be generated by a CA? Is there any limit? There is no restriction on the number of UDINs to be generated by a CA.   Howto create an account on the UDIN portal? To register at UDIN portal, please take the following steps: Step 1: Enter the homepage https://udin.icai.org Step 2: Click button “For first time sign up, click here” Step        …

Read More FAQ’s on ICAI UDIN – For A Practicing Chartered Accountant

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PATTERN OF ASSESSMENT FROM MAY 2019 EXAMINATION Students appearing in the Intermediate and Final Examinations may please note that beginning from May, 2019 attempt, assessment in the following subjects would be partially based on objective type questions. The IPCC and Final Exams Subjects with Objective are :   Intermediate Level Final Level Paper Subject Paper Subject 2 Corporate and Other Laws 3 Advanced Auditing and Professional Ethics 4 Taxation 4 Corporate and Economic Laws 6 Auditing & Assurance 7 Direct Tax Laws and International Taxation 7 Enterprise    Information    System    & Strategic Management 8 Indirect Tax Laws In each of the above papers, the weightage for objective type questions would be 30%. The remaining questions will be in the nature of multiple choice questions having 1 or more marks. There will be no negativequestions i.e., 70% of the paper would be as per the present pattern of assessment. The objective type questions will be in the nature of multiple choice questions…

Read More Pattern OF IPCC And Final Exams Changing from May 2019

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MUMBAI: Fearing a backlash from regulatory agencies around corporate governance standards many firms are dropping their auditing assignment like hot potatoes. Since January this year more than 30 firms have resigned as auditors of companies midterm, compared to about 7 auditor resignations in 2017, as per data collated by Prime Database. In the past few…

Read More 30 auditors resigned from Indian companies this year 2018

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Mumbai: Price Waterhouse (PW), a network firm of PwC India has quit as auditor to BSE-listed construction and infrastructure company Atlanta Limited after it apparently refused to share details of an ongoing income tax investigation and the resignation of an independent director. The income tax department is investigating sources of some of the company’s income and expenditure and whether some transactions…

Read More PW a network firm of PwC India quits as auditor of BSE-listed Atlanta

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Chartered accountants’ apex body ICAI today said it has entered into an arrangement with Chartered Accountants Australia & New Zealand whereby its members based in the two countries would be able to have membership of CA ANZ. The Institute of Chartered Accountants of India (ICAI) has entered into a unilateral arrangement ‘Pilot International Pathway Scheme’…

Read More ICAI members can have CA Australia & New Zealand membership