Aligning the time limit of generating UDIN to 60 days by substituting the existing time limit of 15 days

The institute council has decided to align the deadline to generate the Unique Document Identification Number (UDIN) in accordance with CAS102 for cost review documentation and to the Quality Review Board’s Audit Quality Guidance Manual of the institute and change the term to generate UDIN to 60 days replacing the existing period of 15 days from the date of this notice.

In the case of documents for which the respective supervisory authority (s) or other stakeholders require a UDIN immediately after signing or within a specified period, must provide it to the accountant of costs in exercise.

Furthermore, the Council has decided to forgive a violation of Clause (1) of Part 11 of The Second Schedule of the Cost and Works Accountants Act, 1959, and has granted immunity to a practising cost accountant from disciplinary proceedings under sections 21 and 22 of the Act for non generate UDIN prior to the effective date of the amended time limit.