The Institute of Chartered Accountants of India (ICAI), through its Auditing and Assurance Standards Board (AASB), has announced the constitution of an “Expert Panel” to provide technical guidance to members on issues relating to statutory audit and allied auditing aspects. This initiative, continuing the practice followed over the past four years, is aimed at supporting auditors in navigating the increasingly complex business and regulatory environment marked by the rise of start-ups, public listings, and evolving reporting requirements.
The Panel, will be operational from 16th April 2026 to 30th September 2026. During this period, members can submit their audit-related queries via email to seek expert guidance on practical issues encountered during audit engagements.
ICAI has emphasised that queries should be concise yet factually complete, while strictly maintaining client confidentiality by avoiding disclosure of entity names. Members are also advised against submitting duplicate queries or repeated follow-ups on the same matter. The mechanism is intended to serve as a guiding aid, and members are expected to exercise professional judgment in applying the responses to their specific engagements.
It is clarified that the responses provided by the Expert Panel will reflect the personal views of the experts and shall not be construed as official positions of the AASB or ICAI. Accordingly, neither the Institute nor the Panel members assume responsibility for actions taken based on such guidance. Further, such views are not admissible as evidence in judicial or quasi-judicial proceedings. The AASB also reserves the discretion to decline responding to any query without assigning reasons, depending on its nature.
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