ICAI Certificate Issuance Checklist for CAs: Everything You Need
Chartered Accountants issuing certificates must follow ICAI certificate issuance checklist to avoid legal or disciplinary consequences. From UDIN to format and verification, here’s a complete guide based on ICAI guidelines, circulars, and expert inputs.
Why a Certificate from a CA Is Legally Sensitive
A certificate issued by a CA (Chartered Accountant) is often used by:
- Taxpayers for loan applications, tax filings, and compliance
- Companies to comply with statutory filings under Income Tax, FEMA, Companies Act
- Government agencies and courts for verification
Wrong or non-compliant certificates may lead to:
- Penalties under ICAI disciplinary rules
- Financial loss to clients
- Cancellation of UDIN or professional misconduct case
ICAI Certificate Issuance Checklist (Focus Keyphrase)
As per latest ICAI advisories, the following checklist must be followed before issuing any certificate:
| Requirement | Details |
|---|---|
| Correct Format | Use only ICAI-specified or client-required formats. |
| Name & Membership No. | Clearly mention name, FRN (if firm), and Membership No. |
| Date & Place | Mandatory on every certificate issued. |
| UDIN Generation | Generate UDIN within 15 days of certificate issuance. |
| Subject Matter Disclosure | Mention specific subject (e.g., turnover, net worth, shareholding). |
| Working Papers | Maintain backup and evidence for 7 years. |
| Self-verification | Ensure all numbers match audited or verified records. |
| No Unverified Projections | Don’t certify future projections without basis. |
| Signature & Stamp | Hand-signed or DSC + rubber stamp with CA’s name & membership no. |
| Disclosure Clause | Add ICAI-recommended clause: “This certificate is issued on request…” |
When Is a CA Certificate Required?
Some common use-cases where ICAI certificate issuance checklist applies:
- Turnover certificate for MSME loan or subsidy
- Net worth certificate for visa or loan
- Shareholding certificate for startups or angel investors
- CA certificate for income tax capital gains exemption
- Certification under FEMA or Companies Act
- GST refund or input reconciliation certificates
Common Mistakes That May Lead to Disciplinary Action
- Issuing a certificate without verifying books or records
- Not generating UDIN or generating it with wrong date
- Using pre-signed blank certificates (strictly prohibited)
- Certifying unaudited figures without proper disclaimer
- Not maintaining a copy of working papers
Expert Tip
Always retain a scanned and physical copy of the certificate with working notes. In case of any dispute, this becomes your defence under ICAI disciplinary procedures.
Legal Backing and ICAI Guidance
- UDIN Mandate: Compulsory for all certificates since 2019 – ICAI UDIN Portal
- ICAI Ethical Standards Board Clarifications
- Case Law: In ICAI vs. XYZ CA, a CA was held guilty for certifying a false net worth without cross-verifying client’s books.
🧭 FAQs
Q1. Can I issue a certificate based on unaudited financials?
Only with proper disclosure and disclaimer. Avoid certifying unaudited data as facts.
Q2. What if I forget to generate UDIN within 15 days?
ICAI considers it a violation. You can’t retrospectively validate it.
Q3. Can an articled assistant issue certificates on behalf of CA?
No. Only a registered CA with a valid membership number can issue certificates.
Summary
ICAI certificate issuance checklist guides CAs on UDIN, disclosure, format, and compliance. Avoid errors, maintain records, and issue legally valid certificates.
✅ Link to Explore More:
Read our complete guide on UDIN and ICAI disciplinary rules.
Final Word
Chartered Accountants must treat certificates as legally binding documents. Following the ICAI certificate issuance checklist ensures professional integrity, client trust, and protection from penalties.