Deferment of ICAI Phase IV Peer Review Mandate to 31.12.2026
The ICAI has decided that Phase IV of the Peer Review mandate which is applicable from 01.01.2026 be extended to 31.12.2026.
This is not the first time, ICAI has deferred implementation of Phase IV of the Peer Review mandate. Earlier in January 2025, ICAI had deferred the implementation of Phase II and Phase IV to 1st July, 2025 and 1st January 2026 respectively.
S per Announcement issued today, the revised date of implementation date for Phase IV of the Peer Review mandate is as under:
| Phase |
Category of Practice Units covered for Mandatory Peer Review |
Date from which Peer Review is Mandatory |
| V |
Practice Units which propose to undertake audits of branches of Public Sector banks: For these Practice Units, there is a pre-requisite of having Peer Review Certificate. OR Practice Units rendering attestation services and having 3 or more partners: For these Practice Units, there is a pre-requisite of having Peer Review Certificate before accepting any Statutory audit |
01.01.2026 |
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