UDIN is mandatory for CA’s from 1st February’2019

22 Jan
UDIN is mandatory for CA’s from 1st February’2019

UDIN is mandatory for CA’s from 1st February’2019

Genuinity and Authenticity are the parameters on the basis of which people rely and trust on any document attested by Chartered. In the past, many cases have come into notice where a forged document has been used by the person for taking bank facility. Non-professional acts as professional were forging the document with fake stamp and Signature.

It has been noticed that financial documents and certificates are being attested by people who are posing as CA members and are misleading the authorities and stakeholders, an ICAI official said.

The Forged documents came into notice when NPA cases proliferated. In this milieu, CVC (Central Vigilance Commission) proposed the ICAI to create a mechanism for monitoring the reliability and integrity of the Chartered Accountants. 

UDIN is a unique no. generated through an online portal for every document certified by CA’s. It is 15 digit no. comprises of six digit membership no of the chartered accountant attesting the document with six digits date when the certificate is being issued along with three digits unique identification No. automatically generated thorough system.

With the help of UDIN, forgery can be controlled by increased traceability. Chartered Accountants would be held accountable for the document attestation which is a positive step in respect of transparency.  A digital India initiative by CVC (Central Vigilance Commission) that will be a positive development for tracing the person representing themselves as CA.

 The implementation of UDIN can be a challenge for CA where the CA team will have to obtain OTP (one-time password) from signing partner for generating the UDIN through the online portal.

The UDIN once generated can be withdrawn or cancelled with narration. Hence if any user search for this UDIN, appropriate narration indicated by Member with the date of revoke will be displayed for reference.

Filing Samadhan Founder Tushar Walecha said: UDIN is a Digital India Initiative which seems like an administrative challenge for CA’s but it will go a long way for building the trust and reliability of CA profession.