Unique Code Numbers to CAs to check fraudulent practices
The Institute of Chartered Accountants of India (ICAI) will introduce Unique Code Numbers (UCD) from next month for Chartered Accountants (CAs) to help them check increasing incidents of fraudulent practices, including forged attestations, ICAI President Amarjit Chopra said today.
Once introduced, ICAI would ask banks to insist on UCD, as people file different balance sheets for various purposes without the knowledge or approval of CAs, he told reporters here.
The institute is being assisted by the software giant Infosys in this endeavour, he said.
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