ICAI Sets New Audit Limits for Chartered Accountants

The Institute of Chartered Accountants of India (ICAI) will impose a new limit of 60 tax audits per chartered accountant starting April 1, 2026. This decision aims to curb malpractices and ensure better accountability. The Unique Document Identification Number system will oversee document authenticity. Networking guidelines for overseas expansion were also discussed.

Devdiscourse News Desk | New Delhi | Updated: 27-06-2025 19:45 IST | Created: 27-06-2025 19:45 IST

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Country:
India

The Institute of Chartered Accountants of India (ICAI) has announced a new cap on tax audits, limiting individual chartered accountants to 60 audits per financial year starting April 1, 2026.

With over four lakh members, the ICAI seeks to curb malpractices and enhance accountability among its members. ICAI President Charanjot Singh Nanda highlighted the updated regulations, which include the use of the Unique Document Identification Number (UDIN) system to verify document authenticity.

Alongside this, the ICAI is extending the deadline for feedback on overseas networking guidelines aimed at boosting global competitiveness for domestic chartered accountant firms. These efforts reflect the ICAI's commitment to expanding reach and strengthening standards within the profession.

(With inputs from agencies.)