UDINs generated by ICAI Members cross the mark of 7 CRORES

Proud to inform that UDINs generated by ICAI Members cross the mark of 7 CRORES

About UDIN: Chartered Accountants (CAs) have an important role in the economic development of the country and the Institute of Chartered Accountants (ICAI) being the governing body has a very crucial role to play as a partner in the process of nation building. Before the introduction of Unique Document Identification Number (UDIN) in 2019, there was a huge demand from the Indian Banker’s Association (IBA) and the bankers regarding the verification of authenticity of the signature of Chartered Accountants (CA). ICAI noticed rising cases of misrepresentation of CAs’ services and forged signatures of CAs being done by non-CAs.

The Unique Document Identification Number (UDIN) platform has several new features, including:  

• Online verificationRegulators and stakeholders can verify documents with a UDIN online, anytime, and anywhere.
• Seal of authenticationDocuments signed by a genuine chartered accountant will have a seal of authentication.
• Message alertsVerifiers will receive alerts if a UDIN is revoked after verification.
• Blockchain technologyThe UDIN platform uses blockchain technology to retain documents for a set period of time.
• Document controlUsers can control what others can do with their documents, and transfer control to other users.

Other features of UDIN include:  

• Only full-time practicing chartered accountants with a Certificate of Practice (CoP) from the Institute of Chartered Accountants of India (ICAI) can register for UDIN.
• There is no limit on the number of UDINs that can be generated.
• Only the signing partner can generate a UDIN.
• There are no fees for registering or generating a UDIN.
• A UDIN is an 18-digit number that is system generated for each document certified by a chartered accountant