ICAI released UDIN Report 2023-24; UDIN Analysis and Panoramic View of Members

The Institute of Chartered Accountants of India (ICAI) has released the UDIN report 2023-24, which gives the insight of UDIN Analysis and Panoramic View of Members.

UDIN is an exceptional initiative of the ICAI to layout a universal verification mechanism for discerning the legitimacy of the documents signed by Indian Chartered Accountants. The ICAI boasts the pre-eminence of UDIN being an unequalled pursuit in augmenting numerous dynamisms of ICAI in the quest of transparent financial reporting in India.

Since its inception, UDIN has become a sine qua non for trust and credibility. It assists the Government, regulatory bodies, banking and financial intermediaries among other stakeholders in establishing the genuineness of the documents received by them from the Chartered Accountants, in turn giving aid in policy and decision-making processes.

UDIN Report for 2023-24, among others, presents the reflections on UDINs various usage, members’ registration with the UDIN portal, cardinal numbers of generated UDINs during the reporting year, and selected statistical analysis of its relevant features.

The Report highlights the UDIN’s successful accomplishments throughout the reporting year, including its mandate and alignment with the ICAI’s Vision and Mission. It also includes numerical and visual representations.

The novelty of the UDIN has been lauded by Smt. Droupadi Murmu, the Hon’ble President of India in her speech at 75th Chartered Accountants Day on 1st July, 2023.

This year, UDINs have crossed a mark of 6 crores during the reporting year, a chef-d’œuvre for the Institute.

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