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Mandatory Client KYC forms for Practicing CA’s

Mandatory Client KYC forms for Practicing CA’s

The ICAI has introduced to Client KYC Forms to be MANDATORY respect to any assignment relating to attestation for all the members who are in practice. These norms will normally apply to assignments which relates to attestation such as Audit, Certificate, Review etc.

 

 

ICAI has also suggested the format & Information required in the KYC form which is as follows:

  1. First of all, ICAI has grouped the clients in broadly THREE categories which are INDIVIDUAL/PROPRIETOR, CORPORATE & NON CORPORATE Clients.
  2. Secondly ICAI has required the basic information regarding the client such as their Name, PAN Number, Business Description & their Last Audited Financial Statement. In case of Corporate Client, ICAI has also required for information relating to their Directors such as Name, Address, PAN & Identification Number.
  1. Third & Last, ICAI has required for TYPE OF ENGAGEMENT with the client.

For your information ICAI has formulated this requirement in their 356th Meeting held on 29th, 30th June & 1st of July 2016.

The above mentioned requirement is Mandatory with effect from 1st January 2017.

A brief snapshot of the required format is follows. We have also provided a direct downloading link of the format in Excel.

Mandatory Client KYC Forms

 

For KYC Form in Excel format – ICAI KYC FORM (CaNotes.in)

To get the official Notification of Mandatory Client KYC forms for Practicing CA’s you can visit to ICAI’s official website or you can download it from by clicking here.

That’s all for Mandatory Client KYC forms for Practicing CA’s. Keep sharing & update your friends & Principal.

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