ICAI Extends Peer Review Mandate Phase IV Applicability to December 31, 2026:

The Institute of Chartered Accountants of India (ICAI) has granted extensions for the applicability of the Peer Review Mandate Phase IV.

ICAI Announces One-Year Extension for Peer Review Mandate Phase IV

Vanshika verma

Dec 31, 2025

Last update on Dec 31, 2025

ICAI Extends Peer Review Mandate Phase IV Applicability to December 31, 2026 The Institute of Chartered Accountants of India (ICAI) recently made an announcement on December 31, 2025, regarding the extension of Phase IV of the Peer Review Mandate. The Group recommended that Phase IV of the Peer Review mandate should be delayed. Based on this recommendation, it was decided that Phase IV which was supposed to start on January 1, 2026, its implementation will now be postponed and extended until December 31, 2026. Category of Practice Firms covered for Mandatory Peer Review Under Phase IV of the Peer Review Mandate, some accounting or audit firms must first get a Peer Review Certificate before they are allowed to take up certain types of work.

If an audit firm wants to audit branches of public sector banks, it cannot do that work unless it already has a Peer Review Certificate.
If an audit firm offers attestation services and has 3 or more partners, then it must obtain a Peer Review Certificate before taking any statutory audit work.

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Vanshika verma

Content Writer

Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.