The Council of the Institute in its 271st meeting held on January 9, 2016, has decided to issue the enclosed ‘Guidelines for Issue of Certificates for Special Purposes by Practicing Chartered Accountant Firms’.
Government and Regulatory authorities under various statutes, regulations or notifications, require certificates from auditors. In the absence of prescribed wording in the law or regulations there are diverse practices prevalent in issuing such certificates by practicing members. In a number of cases these are issued as assurance reports instead of certificates. The formats of these reports and the assurance standards under which these are issued are also not standardized.
Due to varied practices applicable, it has been felt that there is a need to provide guidance which will ensure that the requirements of law are complied with and that standard certificates are issued for consistency. Hence the ‘Guidelines for Issue of Certificates for Special Purposes by Practicing Chartered Accountant Firms’ have been developed.
Members are advised to take guidance from the said Guidelines.