Significance of UDIN in Audit Report

[V Kartik]

Dear Professional colleagues,

In case of Companies the last date of holding Annual General Meeting as per Companies Act shall be 30.09.2019. As you all are aware the main Agenda in AGM is Adoption of Accounts. In light of the rule introduced by Institute of Chartered Accountants of India where in every certificate issued by the Chartered Accountant shall carry a UDIN, you are requested to make sure that the Audit Report and the financials are signed before 25.09.2019 in all cases. If you anticipate delay in audit please apply for AGM extension before 05.09.2019. Contravention of AGM provision is a non-compoundable provision having imprisonment along with fine as Penalty. Point of contention is that with the introduction of UDIN it will not be possible to backdate documents.

Kartik

[Ramaswami Mohan]

I do not think UDIN Number is linked to date. It is a number to keep track of the number of certificates issued by a CA.

Regards, 

Mohan

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[Ramaswami Mohan]

https://www.google.com/amp/s/taxguru.in/chartered-accountant/udin-cas-frequently-asked-questions.html/%3famp

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)

[V Kartik]

Still it is linked. Otherwise why this 15 days time period is given ?

Secondly earlier what used to happen is many companies used to give the accounts somewhere in October & do back dated signing. Inorder to curb these practices, this UDIN has come in, so that these back dated practice of signing is avoided.

Kartik

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[Govinda Patil]

wef 1st September 2019,  the  15 days  time given to generate UDIN    is not available.   it is to be genertated on the same day.

[Sachin Verma]

Dear Govind ji

Please let me know, where it is mentioned that from 01.09.2019 , 15 days time will be remove