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Latest FAQ On UDIN for Practicing Chartered Accountants – Part 1 (About, Applicability and Process)

About UID

1. What is Unique Document Identification Number (UDIN)?

Unique Document Identification Number (UDIN) is 18-Digits system generated unique number for every document certified/attested by Practicing Chartered Accountants.

2. What is the objective of UDIN?

It has been noticed that financial documents/ certificates attested by third person misrepresenting themselves as CA Members are misleading the Authorities and Stakeholders. ICAI is also receiving number of complaints of signatures of CAs being forged by non CAs.

To curb such malpractices, the Professional Development Committee of ICAI has come out with an innovative concept of UDIN i.e. Unique Document Identification Number which is being implemented in phased manner. It will secure the certificates attested/certified by practicing CAs. This will also enable the Regulators/Banks/Third parties to check the authenticity of the documents.

3. What is the reference of 18-Digits of UDIN?

The 18- digits UDIN (YY MMMMMM AANNNAANNN) will be like;

19304576AKTSBN1359

Wherein;

First 2 Digits are YY – Last 2 digits of the Current Year (19 in this case)

Next 6 Digits are MMMMMM – ICAI’s Membership No. (304576 in this case)

Next 10 Digits are AANNNAANNN –Alpha-numeric generated randomly by the system (AKTSBN1359).

4. Is there any fee for generation of UDIN?

There is no fee for registration and generation of UDIN.

5. How is UDIN secure?

UDIN is totally secure as it can be viewed only by the Member and/ or the Regulators / other Stakeholders who are having the UDIN. Secondly, it does not contain any information of the client.

6. When to generate UDIN?

UDIN is to be generated at the time of signing the Certificate. However, the same can be generated within 15 days of the signing of the same (i.e within 15 days from the date mentioned at Certificates and not beyond that)

7. For generating UDIN, is any document is required to be uploaded on UDIN Portal?

No document is required to be uploaded for generating UDIN.

Applicability

1. From 1st February 2019 UDIN is mandatory for all the certificates? What is meant by Certificates?

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.

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

An illustrative list as below is appearing on the 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.

(i) Certificates issued on the basis of Financial books of accounts and annual financial statements-Capital Contribution Certificate/net worth certificate
(ii) Certificates issued on the basis of Financial books of accounts and annual financial statements – Turnover Certificate
(iii) Certificates issued on the basis of Financial books of accounts and annual financial statements -Working Capital Certificate/Net Working Capital Certificate
(iv) Certificates issued on the basis of Statutory records being maintained under Indian Companies Act, 2013 and applicable provisions
(v) 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.
(vi) Certificates for Foreign Remittance outside India in form 15CB.
(vii) Net worth Certificates for Bank finances
(viii) Net worth Certificates for Bank Guarantee
(ix) Net worth Certificates for Student Study Loan
(x) Net worth Certificates for Issuance of Visa by Foreign Embassy
(xi) Certificate in respect of Liquid Asset under Section 45-IB of RBI Act, 1945
(xii) Certification of arms length price u/s 92 of the income Tax Act, 1961.
(xiii) Certificates for  funds/ Grants utilisation  for NGO’s
(xiv) Certificates for  funds/ Grants utilisation  for Statutory Authority
(xv) Certificates for  funds/ Grants utilisation  
Under FERA/FEMA/other Laws
(xvi) Certificates for  funds/ Grants utilisation  
Charitable trust/institution
(xvii) Certification under the Income-Tax laws for various Deductions, etc.
(xviii) Certification for claim of refund under GST Act and other Indirect Taxes.
(xix) Certification under Exchange Control legislation for imports, remittances, ECB,DGFT,EOU, etc
(xx) Certificates in relation to initial Public Issue/compliances under ICDR and LODR.
(xxi) Certificate issued by Statutory Auditors of Banks
(xxii) Certificate issued by Statutory Auditors of Insurance Companies
(xxiii) Additional Certification  by Concurrent Auditors of Banks not forming part  of the concurrent audit assignment
(xxiv) Certificate of Short Sale of securities issued by Concurrent Auditors of Treasury Department of Banks
(xxv) Certificate of physical verification of securities issued by Concurrent Auditors of Treasury Department of Banks
(xxvi) Certificate issued for KYC purpose to banks confirming sole proprietorship
(xxvii) Certificate Regarding  Sources of Income
(xxviii) Certificates for Claiming Deductions and Exemptions under various Rules and Regulations
(xxix) Certificates issued under LLP Act
(xxx) RBI Statutory Auditor Certificate for NBFCs
(xxxi) Certificate issued under RERA
(xxxii) Others

*Certificates includes Reports issued in lieu of a Certificate in terms of Guidance Note on Reports or Certificates for Special Purposes (Revised 2016)

  1. What will not be covered under Certificates for UDIN which is being made mandatory w.e.f. 1st February 2019?

Non-applicability of UDIN can be listed out but the list is not exhaustive. Like in the 1st phase, requirement of obtaining UDIN was Not Applicable for below but the same has been made mandatory w.e.f. 01st of July, 2019:

  • 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.,
  • Valuation Reports,
  • Quarterly Review Reports,
  • Limited Review Report
  • Information System Audit,
  • Forensic Audit,
  • Revenue / Credit / Stock Audit,
  • Borrower Monitoring Assignments,
  • Concurrent / Internal Audit and the like,
  • Any report of what so ever nature issued including Transfer Price Study Report, Viability Study Report, Diligence Report, Due Diligence Report, Management Report, etc.

2. Who can register on UDIN Portal?

All Practicing CAs having full-time Certificate of Practice (CoP) can only register on the UDIN portal to generate UDIN.

3. Who has to generate UDIN?

All Practicing CAs having full time CoP has to generate UDIN after registering on UDIN Portal.

4. Is any person other than CA is allowed to register at UDIN portal?

No. Only CAs with full-time Certificate of Practice can register on UDIN portal to generate UDIN.

5. Is UDIN required for Certified True Copies also?

No,UDIN is not required for certified true copies.

6. Can a Partner generate UDIN for the Certificate signed by another Partner?

No,Only signing Partner has to generate UDIN.

7. Whether a Firm can register on UDIN Portal?

No, only members of ICAI having full-time Certificate of Practice can register on UDIN Portal.

8. Who will generate UDIN for the assignment carried out by CA firm?

Only the Partners signing the document for such assignment will have to generate UDIN.

9. Whether UDIN will be applicable only for manually signed documents or also for digitally signed certificates being uploaded online such as Form 15 CB?

UDIN will be applicable both for manually as well as digitally signed Certificates / uploaded online. In case of digitally signed / online certificates like MCA, ROC, RBI certificate/reports, UDIN has to be generated and retained for providing the same on being asked by any third party/ authority.

10. Is UDIN required for original Certificate only or for duplicates also?

UDIN is to be generated once only for Original Certificates. In case, duplicate certificate is being issued on the request of the client, same UDIN is to be mentioned.

11. Is UDIN to be generated for the assignments awarded before 1st February, 2019 as UDIN for certificates being made mandatory wef 1st February, 2019?

UDIN is to be generated for all Certificates that are signed on or after 1st Feb., 2019.

12. Is UDIN applicable / useful for Members in Industry?

Only Practicing CAs with full time CoP can register on the UDIN portal and can generate a UDIN.

13. Can Part Time CoP holder generate UDIN?

No.Since part-time COP holders cannot certify the documents. Hence, they have no access to UDIN portal.

14. Whether UDIN is mandatory for each certification done?

Yes, it is mandatory for all Certificates w.e.f. 1st February., 2019.

Read More: Latest FAQ On UDIN for Practicing Chartered Accountants – Part 2 (Process and Miscellaneous )

Read More: Latest FAQ On UDIN for Practicing Chartered Accountants – Part 3 (Authorities/Regulators, Bank Audit, UDIN for GST &Tax Audit)

Read More: Latest FAQ On UDIN for Practicing Chartered Accountants – Part 4 (Other Audit & Assurance Functions, Helpdesk)

Author: Niranjan Reddy

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