UDIN is mandatory for which type of Certificates from 01/02/2019?

ICAI has made it mandatory from 01/02/2019 to register all certificates at UDIN portal and has listed the type of Certificates which are covered/ not covered under the new compliance requirement for the practicing chartered accountants.

It is mandatory to obtain UDIN for all Certificates issued where the Financial Information/ related contents is certified as True and Fair/ True and Correct. It may be noted that Certificates includes Reports issued in lieu of a Certificate in terms of Guidance Note on Reports or Certificates for Special Purposes (Revised 2016).

ICAI has drawn Members attention to the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) with illustrative formats already issued by the AASB (Auditing and Assurance Standard Board), which is required to be followed by the Practicing Chartered Accountants.

A drop down illustrative list as below is appearing on the UDIN Portal from which the Member can select the certificate they are going to issue. In case their certificates are not matching with the list provided, Members are advised to select others and mention the nomenclature of the certificate in Document Description.

S. No.	Type of Certificates to be registered at UDIN Portal
1	Certificates issued on the basis of Financial books of accounts and annual financial statements-Capital Contribution Certificate/ net worth certificate
2	Certificates issued on the basis of Financial books of accounts and annual financial statements – Turnover Certificate
3	Certificates issued on the basis of Financial books of accounts and annual financial statements -Working Capital Certificate/ Net Working Capital Certificate
4	Certificates issued on the basis of Statutory records being maintained under Indian Companies Act, 2013 and applicable provisions
5	Certification of Fair Values of Shares of Company for the scope of merger/ de-merger, Buy Back, Allotment of further shares and transfer of shares from resident to non-resident.
6	Certificates for Foreign Remittance outside India in form 15CB.
7	Net worth Certificates for Bank finances
8	Net worth Certificates for Bank Guarantee
9	Net worth Certificates for Student Study Loan
10	Net worth Certificates for Issuance of Visa by Foreign Embassy
11	Certificate in respect of Liquid Asset under Section 45-IB of RBI Act, 1945
12	Certification of arms length price u/s 92 of the income Tax Act, 1961.
13	Certificates for  funds/ Grants utilisation  for NGO’s
14	Certificates for  funds/ Grants utilisation  for Statutory Authority
15	Certificates for  funds/ Grants utilisation
	Under FERA/FEMA/other Laws
16	Certificates for  funds/ Grants utilisation
	Charitable trust/institution
17	Certification under the Income-Tax laws for various Deductions, etc.
18	Certification for claim of refund under GST Act and other Indirect Taxes.
19	Certification under Exchange Control legislation for imports, remittances, ECB,DGFT,EOU, etc
20	Certificates in relation to initial Public Issue/ compliances under ICDR and LODR.
21	Certificate issued by Statutory Auditors of Banks
22	Certificate issued by Statutory Auditors of Insurance Companies
23	Additional Certification  by Concurrent Auditors of Banks not forming part  of the concurrent audit assignment
24	Certificate of Short Sale of securities issued by Concurrent Auditors of Treasury Department of Banks
25	Certificate of physical verification of securities issued by Concurrent Auditors of Treasury Department of Banks
26	Certificate issued for KYC purpose to banks confirming sole proprietorship
27	Certificate Regarding  Sources of Income
28	Certificates for Claiming Deductions and Exemptions under various Rules and Regulations
29	Certificates issued under LLP Act
30	RBI Statutory Auditor Certificate for NBFCs
31	Certificate issued under RERA
32	Others

What is not covered under ICAI’s UDIN Registration Requirements for Certificates issued from 01/02/2019?

ICAI has mentioned in FAQs on UDIN that requirement of obtaining UDIN is Not Applicable for the following type of Reports:

i) Auditor’s Opinion/Reports issued by the Practicing Chartered Accountant under any Statute w.r.t. any entity or any person (e.g.: Tax Audit, Transfer Price Audit, VAT Audit, GST Audit, Company Audit, Trust Audit, Society Audit, etc.,

ii) Valuation Reports,

iii) Quarterly Review Reports,

iv) Limited Review Report

v) Information System Audit,

vi) Forensic Audit,

vii) Revenue / Credit / Stock Audit,

viii) Borrower Monitoring Assignments,

ix) Concurrent / Internal Audit and the like,

x) Any report of what so ever nature issued including Transfer Price Study Report, Viability Study Report, Diligence Report, Due Diligence Report, Management Report, etc.

Non-applicability of UDIN has been listed by ICAI as above. The list is illustrative only and it’s not exhaustive.

Note: Please refer the UDIN website for updated/ latest info on the subject.

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UDIN is mandatory for which type of Certificates from 01/02/2019?