ICAI’s Expert Panel for Member’s Queries or Issues on Statutory Audit

The Institute of Chartered Accountants of India (ICAI) being the world’s second largest accounting body and regulator of accountancy profession in India has always partnered in Nation Building and provided service to Indian economy in public interest.

With the arrival of new age companies, start-ups, an increase in the number of organisations going public, and a myriad of regulatory and reporting requirements, the function of auditors has grown exponentially. In today’s environment, with ever-increasing expectations from auditors, the Auditing and Assurance Standards Board (AASB) of ICAI has decided to provide necessary support to members in practise with regard to Statutory Audit of Entities pertaining to auditing aspects, with the goal of improving audit quality.

In this context, we are glad to tell you that the Board has constituted an Expert Panel to give technical support to members with regard to auditing issues.

The Panel will address the queries from 17th April, 2023 till 30th September, 2023. The queries are to be sent at email address: [email protected]

Panel Convenors

CA. (Dr.) Sanjeev Kumar Singhal, Chairman, AASB, ICAI and CA. Vishal Doshi, Vice Chairman, AASB, ICAI.

Members are particularly informed that the opinions given by the experts are their own and do not necessarily reflect the opinions of the AASB or the ICAI. AASB, ICAI, or Panel members accept no responsibility for acts made by querists relying on such advise. Furthermore, these opinions may not be utilised as evidence in any non-judicial/quasi-judicial/judicial procedure before any authority. Furthermore, depending on the nature of the enquiry, the Board reserves the right not to respond without additional notification/notice/email and without assigning any reason.

To enable us to serve you better, you are also advised to:

• Be brief but provide full information and facts.
• Not to mention the name of the Client or Entity in order to avoid problem of violation of client confidentiality requirements under the ICAI Code of Ethics.
• Avoid rejoinders.
• Not to send the same query twice.
• Draft the report on your own.
• Use own judgment.