ICAI Recommends Digital-Only Audit Fee Payments to Enhance Transparency:

ICAI Recommends Digital-Only Audit Fee Payments to Enhance Transparency The Institute of Chartered Accountants of India (ICAI) has made an important recommendation in its Code of Ethics, 2026, to improve transparency in the profession. The Council has suggested that audit fees should be received only through digital modes or banking channels.

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In this regard, the Institute of Chartered Accountants of India (ICAI) has suggested that auditors should avoid accepting audit fees in cash and instead make payments through digital payments, bank transfers, cheques or other formal banking methods. This will help to establish a clear and verifiable record of transactions. The move is in line with the growing digital economy in India and the government's push for cashless payments. It is expected to enhance financial discipline and improve accountability in professional practice.

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ICAI believes that accepting audit fees only through banking channels is a small but big step towards building more trust, transparency and integrity in the auditing profession.