NEW DELHI: Ever since India adopted the Unique Document Identification Number (UDIN) for certifications, GST and tax audit reports by practicing Chartered Accountants, the country has prevented frauds worth Rs 80,000 crore, claims Institute of Chartered Accountants in India (ICAI).
ICAI president Charanjot Singh Nanda informed the media on Friday that UDIN is first of its kind initiative globally, and it has prevented unauthorized individuals from misusing a CA’s name, signature, or membership details, eliminated the risk of fraudulent certifications and strengthened the integrity and reputation of the profession. He says that the initiative has received global attention with ICAI equivalent institutions and bodies from many countries seeking help from ICAI for implementing a similar system.
UDIN was implemented in August 2019, and since then over 10 crore UDINs have been generated.
To curb the malpractices of non-CAs falsely presenting themselves as CAs and authenticating documents, ICAI introduced the Unique Document Identification Number (UDIN), an 18-Digits system generated unique number for every document certified/attested by full time practicing Chartered Accountants.
Meanwhile, the ICAI Council has approved the revision of Code of Ethics in its meeting on December 10, 2025. The new code will come into effect from 1 April 2026. The new Code of Ethics eases the advertising restrictions on CAs. The changes in advertising guidelines include more flexibility of contents, advertisement through contemporary form in write-up, enabling website for network firms and changes intended to enhance the visibility of firms and facilitate the dissemination of information through digital platforms.