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 its 307
2011, which shall be recommendatory in nature, and apply only in case of attest
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
B. CORPORATE STRUCTURE
C. REGULATORY INFORMATION
person is director.
D. ENGAGEMENT INFORMATION
2. OTHER INFORMATION
This decision shall be in force from 13