SECP Enforces UDIN Inclusion in Audit Reports to Boost Audit Trail Integrity
The Securities and Exchange Commission of Pakistan (SECP) has officially mandated auditors to incorporate the Unique Document Identification Number (UDIN) on all pertinent documents and audit reports.
This directive comes as part of the recently announced S.R.O. 1481 (I)/2023, which outlines draft amendments to the Auditors (Reporting Obligations) Regulations of 2018.
The revised regulations revealed that the “Unique Document Identification Number” or “UDIN” means UDIN generated from the designated portal of the Institute of Chartered Accountants of Pakistan or the Institute of Cost and Management Accountants of Pakistan.
It shall be mandatory for auditors to mention UDIN on all reports issued under Auditors (Reporting Obligations) Regulations, 2018.
Provided that this requirement shall be applicable to the practicing members of the Institute of Cost and Management Accountants of Pakistan from the date notified by the Commission, SECP added.
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