Slide background
Excellence in Execution
Slide background
KMS is different
Slide background
Trusted Relationship
Slide background
Quality with Timeliness

ICAI issues Know Your Client (KYC) norms for members in Practice

No. ICAI/ESB/201 1/03

Announcement of KYC Norms

All the members of Institute of Chartered Accountants of India (ICAI), who are in practice, are hereby informed that the Council has formulated the following Know Your Client Norms (KYC norms) at it’s 307th Meeting held on 13th July, 2011, which shall be recommendatory in nature, and apply only in case of attest function.

KNOW YOUR CLIENT (KYC) NORMS

The financial services industry globally is required to obtain information of their clients and comply Know Your Client Norms (KYC norms).

Keeping in mind the highest standards of Chartered Accountancy profession in India, the Council of ICAI thought it necessary to recommend such norms to be observed by the members of the profession who are in practice.

In light of this background, the Council of ICAI approved the following KYC Norms. However, these norms are recommendatory in nature and every Chartered Accountant carrying out attest function is encouraged to follow them.

1. ENTITY INFORMATION
A. GENERAL INFORMATION

Name of the Entity
Type of Entity
Business Description

B. CORPORATE STRUCTURE

Name of ultimate parent company
Name of Parent company
Name of Affiliates

C. REGULATORY INFORMATION

Company PAN No
Company Identification No
Directors’ Identification No
Directors’ Names & Addresses
Name(s) and Addresses of Companies, in which above person is director.

D. ENGAGEMENT INFORMATION

Type of Engagement

2. OTHER INFORMATION

Entities financial Information
Name of the ultimate parent Auditor
Any known violation of any Law/Regulations