The Institute of Chartered Accountants of India (ICAI) has announced a new step to help its members. On 11 July 2024, ICAI shared that it had formed an Expert Panel for Statutory Audit Queries. This panel will answer questions from auditors on statutory audit work.
The panel will stay open from 11 July 2025 to 30 September 2025. During this time, members who face doubts while doing audits can send their questions by email to: [email protected].
The aim is to help auditors do better audits. Audit work has become more complex because of new rules, more companies going public, and changing business needs. ICAI wants to support auditors so they can give high-quality work during the audit season.
Members must keep a few things in mind before sending questions:
- Write questions that are short but give enough facts.
- Do not write the name of the client or company.
- Do not send the same question again and again.
- Do not send follow-up replies on the same question.
The answers given by the ICAI Expert Audit Panel will be only for guidance. They show what the expert thinks. They are not the official view of ICAI or its board. Also, these answers cannot be used in court or as legal proof. The idea is to guide auditors, but the final judgement must be theirs. The panel will choose which questions to answer. Sometimes, they may not reply to a question and may not give a reason.
This move shows ICAI’s effort to support its members and help them to keep audit high quality, during the busy audit months. Auditors who have questions should use this chance and send their queries within the given time.
