The Institute of Chartered Accountants of India (ICAI) has published a new handbook titled “Handbook on Certificates by Chartered Accountants: Comprehensive Checklist & Formats” – October 2025 edition to guide professionals in issuing various certificates with enhanced quality and consistency.
The 114-pages publication, prepared by the Centre for Audit Quality Directorate, addresses the growing significance of certificates issued by CAs in regulatory and business environments. These certificates serve as instruments of trust for regulators, financial institutions, investors, and other stakeholders.
Key Features:
The handbook provides structured guidance on certificate issuance covering three main user categories: Banks/Financial Institutions (requiring net worth, turnover, and fund utilization certificates), Tendering Authorities (needing revenue validation and profitability certificates), and various regulatory bodies under laws like DGFT, FCRA, RERA, and GST.
A major highlight is the downloadable checklist tool structured in four sections: Index (for tracking UDIN and invoices), Section A (determining applicable standards), Section B (procedural checklist with 13 checkpoints), and Section C (essential certificate components and documentation requirements).
The publication emphasizes that UDIN (Unique Document Identification Number) generation is mandatory for all certificates issued by practicing CAs since February 1, 2019, where financial information is certified as “True and Fair” or “True and Correct.”
Illustrative Formats Included:
The handbook provides 12 detailed certificate formats covering unhedged foreign currency exposure, net worth statements, property and equipment statements, share capital compliance, ITR acknowledgments, grant utilization, tender requirements, merger schemes, and debenture covenant compliance.
The handbook distinguishes between reasonable assurance (positive opinion) and limited assurance (negative conclusion) engagements, providing clear guidance on when each applies. It also explains modified versus unmodified opinions based on audit findings.
The Complete Handbook can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/10/Publication_-HB-on-Certificates.pdf
