ICAI mandate Peer Review for CA Firms –Phase IV to be effective from January 1, 2026

Dear Professional Colleague,

Your kind attention is drawn to Phase IV of the Peer Review Mandate which is as follows:

Peer Review Mandate – Phase IV:

Practice Units which propose to undertake audits of branches of Public Sector banks: For these Practice Units, there is a pre-requisite of having Peer Review Certificate

OR
Practice Units rendering attestation services and having 3 or more partners: For these Practice Units, there is a pre-requisite of having Peer Review Certificate before accepting any Statutory audit.

In case your Practice Unit comes under any of above category, it should be ensured that the Practice Unit has valid Peer Review Certificate on or before 01.01.2026.

For any clarification, you may please refer Clarifications/FAQs on the issues arising out of the Peer Review Mandate hosted at https://resource.cdn.icai.org/83571prb67450.pdf

The Practice Unit may apply for Peer Review in ‘Form 1’ hosted at https://resource.cdn.icai.org/72026prb57960-pform1.pdf  to be sent to the Secretary, Peer Review Board at peerreviewboard@icai.in.  In case your Practice Unit has already applied for peer review or have a valid peer review certificate, please ignore this mail.

With Kind Regards,

The Institute of Chartered Accountants of India
Admin Block, IIIrd Floor, ICAI Bhawan,
A-29, Sector 62, NOIDA – 201 309,
Dist- Gautam Budh Nagar (UP).
Email: peerreviewboard@icai.in|(Phone): +91-120-3045941/ 970