The Institute of Chartered Accountants of India (ICAI), through its Auditing and Assurance Standards Board (AASB), has announced the reconstitution of its Expert Panel to support Chartered Accountants during the ongoing Audit Season. This initiative is aimed at addressing technical queries related to statutory audit and other auditing aspects.
The panel, convened by CA. Sripriya Kumar, Chairperson of the AASB, and CA. Ravi Patwa, Vice Chairman of the AASB, will operate from July 11, 2025, to September 30, 2025. Queries from ICAI members can be submitted via email to auditfaq@icai.in.
This is the fourth consecutive year that ICAI is running the Expert Panel to assist professionals, particularly in light of the dynamic regulatory landscape, increasing audit complexity, and heightened stakeholder expectations from auditors. With the rise of new-age businesses, IPO-bound companies, and complex reporting frameworks, the panel aims to bolster audit quality and ensure consistency in the interpretation and application of auditing standards.
Key Guidelines for Submitting Queries:
- Keep queries concise yet factually complete.
- Do not disclose client or entity names due to confidentiality concerns.
- Avoid multiple submissions of the same query.
- Refrain from sending rejoinders or repetitive follow-ups.
- Understand that responses are advisory in nature and do not constitute official views of ICAI or AASB.
The AASB clarified that while this support is extended on a best-effort basis, the opinions expressed by panel experts are personal and not binding on the Institute. The responses should not be relied upon as legal evidence in any judicial or quasi-judicial proceeding.
The ICAI reaffirmed its commitment to strengthening professional competencies and audit reliability in India. This initiative serves as a vital tool for Chartered Accountants navigating the complexities of the audit profession during peak season.
