ICAI’s initiatives of Global relevance
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- UDIN is a 18 digit Alpha-numeric figure which can be generated only by Chartered Accountants holding Certificate of Practice whenever they issue a report or a certificate.
- UDIN has eliminated the possibility of a non-member misrepresenting as a Member and filing documents.
- Regulatory authorities in India, viz. the tax regulator, banking regulator, financial markets regulator, real estate regulator have recognized UDIN.
- UDIN has been made mandatory from the year 2019 for all certifications, GST filing, Tax Audit reports, Audit, Assurance & Attest functions.
- UDIN enables online real time verification of authenticity of documents filed by Chartered Accountants
- Every document filed gets a unique identity
- Generation of UDIN is OTP based. Communication is sent on registered email ID and mobile number
- Any regulator or stakeholder can any time verify the authenticity of documents filed
- In case a document is revoked by the Chartered Accountant, the verifier gets message alert
- Generation of UDIN has been on the increase year after year. So far, close to 50 million UDINs have been generated.
For more information about UDIN, please visit https://udin.icai.org/
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- SRMM is a maturity model based on scoring of Business Responsibility and Sustainability Reporting (BRSR) formats.
- Released in the year 2021, SRMM 1.0 defines four levels of Sustainability Maturity of corporates based on scores – Level 1, Level 2, Level 3 and Level 4.
- SRMM 2.0 released in the year 2023 aligns the Indian Corporate Sustainability Reporting with International Standards
- Each corporate and professional accounting firms can self-assess their current maturity position vis-a-vis various sustainability reporting maturity levels, and identify areas where more focus is required, for upgrading to a higher level of maturity.
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- DCMM enables Professional Accounting firms to rate their current level of maturity on digital competency, identify areas where competencies are strong or lacking, and develop a roadmap for achieving higher level of maturity.
- Dimensions of Digital Maturity
- Section A: Level of Automation of Firm’s internal Processes
- Section B: Availability of Qualifies Resources Poll & Talent Development Relating to Digital Competencies
- Section C: Discipline Specific Categorization:
- Audit
- Tax & Compliance
- Accounting and Support Function
- Other Management Consulting Services
- Section D:
- Adaptation of Advanced and Emerging Technologies
For more information, please visit https://www.icai.org/new_post.html?post_id=16231
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- The Audit Quality Maturity Model (AQMM) is an attempt to evaluate the current level of Audit Quality Maturity at firm level
- AQMM is an amalgamation of a well- researched set of Audit Quality Indicators (AQIs).
- AQMM provides a mechanism to help and guide the firms to improvise their audit quality.
- AQMM helps identify strength and lacking areas of the firms, and accordingly develop a road map for upgrading to a higher level of maturity.
- AQMM is a cross-functional evaluation model covering key areas of not only audit engagements but also audit practice at the firm level.
For more information, please visit https://www.icai.org/post/mandatory-evaluation-of-the-audit-quality-maturity-of-the-firms
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- Integrated Learning Management System introduced on 1st January 2019
- Professional and Academic Content in multiple formats
- Knowledge sharing platform accessible on personal digital assistant
- Convenient learning from anywhere at anytime at reasonable cost
- A central repository of both professional and academic learning material for members and students
- Who can access?
- ICAI Members
- ICAI Students
- Bank Officials
- ICAI’s MRA/ MoU Partners
- ICAI Officials
- Government Officials
- Guest Users
For more information, please visit https://learning.icai.org/iDH/icai/