ICAI Revised FAQs on UDIN for Bank Audits-When Separate UDINs required?
ICAI in its earlier FAQ on UDIN had clarified that UDIN not mandatory for Statutory Bank Audit. However, for all Certificates to be signed while conducting Bank Audit, generation of UDIN is mandatory.
ICAI has issued the following revised FAQ on UDIN for Bank Audit Reports.
No, since UDIN has to be generated per Assignment per Signatory on a given date, so one UDIN will suffice for the Bank Audit Report including LFAR and Certificates. However, separate UDIN will be required for Tax Audit Report being separate assignment.
Since Certificates are the part of Bank Audit assignment and are issued with Bank Audit Report along with LFAR, one UDIN will suffice and no separate UDIN is required to be generated for Certificates.
However, while generating UDIN, the details of multiple reports and certificates can be entered by “Add more” button.
Yes. Separate UDIN will be required as UDIN has to be generated per Assignment per Signatory on a given date.
If different partners are signing different certificates / reports then separate UDINs have to be taken as UDIN is to be generated per signatory.
Yes, UDIN is applicable to both SCAs and SBAs for Bank (Branch) Audit Report and Tax Audit Reports while conducting Bank (Branch) Audit.
UDIN will be applicable both for manually as well as digitally signed Reports uploaded online.
Yes. All the signing Auditors have to obtain UDIN separately and mention their UDINs individually on the reports signed by them. Auditors may use the same or different keywords/figures while generating such UDINs.
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