ICAI Extends Phase IV Peer Review Mandate to 31 December 2026 for Eligible CA Firms

Peer Review Board
The Institute of Chartered Accountants of India
31st December, 2025

ANNOUNCEMENT

Deferment of Phase IV of Peer Review Mandate

The Council of the ICAI has decided that Phase IV of the Peer Review mandate, which is applicable from 01.01.2026, stands extended to 31.12.2026.

Accordingly, the revised date of implementation is as under:

Phase IV covers the following categories of Practice Units for mandatory Peer Review compliance:

1. Practice Units which propose to undertake audits of branches of Public Sector banks. For such Practice Units, it is mandatory to hold a Peer Review Certificate prior to conducting these audits.

2. Practice Units rendering attestation services and having three or more partners. For these Practice Units, a Peer Review Certificate is a pre-requisite before accepting any statutory audit assignment.

The revised date from which Peer Review becomes mandatory for the above categories is 31.12.2026.