ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for auditors (practicing members of the Institute of Cost and Management Accountants of Pakistan) to mention Unique Document Identification Number (UDIN) on all audit reports.

The SECP has issued SRO 1481 (I)/2023 to notify draft amendments to the Auditors (Reporting Obligations) Regulations, 2018.

According the revised regulations, 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.

Copyright Business Recorder, 2023