SECP Makes Mentioning UDIN on Audit Reports Mandatory for Auditors

The Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for auditors to mention Unique Document Identification Number (UDIN) on all relevant documents and audit reports. The SECP has issued S.R.O. 1481 (I)/2023 to notify draft amendments to the Auditors (Reporting Obligations) Regulations, 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.