In a move aimed at enhancing transparency and accountability in the accounting profession, the Institute of Chartered Accountants of India (ICAI) has recommended that Chartered Accountants and CA firms accept audit fees only through digital payment modes or banking channels and avoid cash transactions.
The recommendation has been incorporated into the ICAI Code of Ethics 2026 and seeks to ensure that all professional transactions are properly documented, traceable and accountable. Under the proposed guidelines, audit fees should be received through bank transfers, cheques, UPI and other digital payment methods rather than in cash.
According to professionals in the field, the measure is intended to strengthen ethical practices and improve the transparency of financial dealings between auditors and clients.
CA Samir Chaudhary, Vice Chairman of the Ahmedabad Branch of ICAI, said the recommendation reflects the profession’s commitment to maintaining higher standards of integrity and accountability.
“Digital payments create a clear audit trail and enhance transparency in professional transactions. This recommendation promotes ethical conduct, strengthens public trust and aligns with the broader goal of building a digitally empowered economy,” he said.
Experts believe the shift towards digital payments will further improve the credibility of audit assignments by ensuring that fee transactions remain transparent, verifiable and easily traceable.