The Eastern India Regional Council (EIRC) of The Institute of Chartered Accountants of India (ICAI) organized a one-day training program for peer reviewers at the ICAI premises in Kolkata.

The Peer Review Board, ICAI, which was founded in 2002 to monitor the peer review process for Chartered Accounting companies, arranged the event.

(Dr.) Anuj Goyal, Chairman of the Peer Review Board, emphasized the value of peer reviewers and the necessity of peer review for chartered accounting companies during the opening session. Additionally, he emphasized the value of regular training for peer reviewers and described how peer review has become more relevant since SEBI made it essential for CA firms performing assurance functions for Listed Companies in 2010.

The ICAI’s Immediate Past President, CA. (Dr.) Debashis Mitra discussed the organization’s initiatives to guarantee audit quality. In order to become an effective peer reviewer, he underlined the value of reading ICAI publications like Auditing Standards and Accounting Standards. Also, he talked about the prerequisites for auditors, like how important it is to understand Audit Trail, and he declared that businesses with five or more partners would have to submit to peer review.

Sushil Kr. Goyal, Central Council Member informed that in order to ensure unstinted services to the members and students, ICAI Call Sahayata at +919997599975 has been initiated. It can also be used by members and students to raise their queries.

The event was attended by a large number of Chartered Accountants. CA.

The training program’s goal was to give chartered accountants the knowledge and abilities they would need to do peer reviews well and guarantee the accuracy of audits. It fits into the ICAI’s continuous initiatives to enhance confidence in and respect for the profession.

Priyanka Dutta