
Pune: To curb the malpractices in the profession of Chartered Accountants (CA), Professional Development Committee of Institute of Chartered Accountants of India has implemented an innovative concept of UDIN i.e. Unique Document Identification Number. This will help secure and identify the validity of certificates/documents issued or attested by CA.
CA SB Zaware, Central Council Member and Chairman, Accounting Standards Board of ICAI, said, “It has been noticed that financial documents/certificates attested by third person misrepresenting themselves as CA members are misleading the authorities and stakeholders. UDIN has been introduced to secure the certificates/documents attested/certified by practicing CAs. This will enable the regulators/banks/third parties to check the authenticity of the documents. UDIN is an 18-digit system generated unique number for every document certified/attested by practicing chartered accountants. In India, only 1,10,000 CAs have authority to give this certificates.”
He said, “Certificate without UDIN will be considered unauthorised and action can be taken against the concerned person. ICAI has decided to make UDIN mandatory with effect from February 1 in a phased manner by making all certifications done by practicing chartered accountants while all reports like GST audit, tax audit and all other attest functions will be made mandatory at a later stage.”
Features of UDIN portal