UDINs helped prevent potential frauds of Rs 70,000-80,000 cr: ICAI

ICAI President Charanjot Singh Nanda on Thursday said the use of Unique Document Identification Number (UDIN) by chartered accountants has helped prevent potential financial frauds of Rs 70,000-80,000 crore.

UDIN, which is generated for each document certified by a chartered accountant, was introduced by the Institute of Chartered Accountants of India (ICAI) in 2019.

Since then, more than 10 crore UDINs have been generated, Nanda said at a media briefing in the national capital.


According to him, the use of UDIN has helped in preventing potential fraud that could have been worth Rs 70,000-80,000 crore.

UDIN helps in the verification and authentication of documents.

ICAI has plans to put in place limitations on UDIN generation for tax audits.