The Institute of Chartered Accountants of india (ICAI) has announced a one-year extension for Phase IV of its Peer review Mandate, giving chartered accountancy practices some much-needed relief. The new deadline for compliance is now set for December 2026.
The Peer review Mandate, part of ICAI’s ongoing efforts to maintain high standards in auditing and accounting practices, requires firms to undergo regular peer reviews to ensure quality and adherence to professional guidelines. By deferring the deadline, ICAI aims to provide additional time for practices to prepare and comply with the new requirements without disruption.
Officials stated that this extension allows firms to align their documentation, processes, and reporting mechanisms with ICAI’s updated standards. The move has been welcomed by practitioners, who see it as a reassuring step amid the increasing demands of compliance and quality assurance.
With the new Phase IV deadline in december 2026, chartered accountants now have more time to meet the peer review criteria, ensuring smoother implementation and adherence to professional excellence.
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