Summary: The Institute of Chartered Accountants of India (ICAI) has issued the Guidelines for members in practice for responding to the tenders issued by various organizations for availing professional services on October 12, 2026, under Section 15(2)(fa) of the Chartered Accountants Act, 1949. The guidelines come into force with immediate effect and prescribe conditions governing participation by practising chartered accountants in tender processes.
Under the guidelines, a member in practice cannot respond to a tender that does not prescribe minimum fees for professional services exclusively reserved for chartered accountants under a statute. Where the tender document specifies minimum fees for such services, a member may participate, provided the fee quoted is not below the prescribed minimum. The guidelines also state that fees quoted by members should not be extremely low, regardless of whether the services are exclusively reserved for chartered accountants, and should be commensurate with the size, value, volume, manpower requirements and nature of the work.
Members responding to tenders must maintain a cost sheet detailing estimated costs, including the personnel involved and hours to be spent. The Institute may call for these documents relating to submitted bids. The expression “Minimum Fee” includes estimated fee, professional fee or any similarly described amount. Different conditions apply to services not exclusively reserved for chartered accountants, for which members may respond irrespective of whether minimum fees are prescribed or participation is restricted to chartered accountants. The guidelines exclude quotations sought through individual letters from practising members or firms and prohibit reverse bidding below the minimum fee. The guidelines must be read with Guideline No. 1-CA(7)/03/2016 dated April 7, 2016.
GUIDELINES ON TENDERS
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
12th October, 2026
In exercise of the powers conferred under Section 15(2)(fa) of the Chartered Accountants Act, 1949, the Council of the Institute of Chartered Accountants of India hereby issues the following guidelines:
i. These guidelines shall be called “The Guidelines for members in practice for responding to the tenders issued by various organizations for availing professional services” and shall come into force with immediate effect.
ii. A member of the Institute in practice shall not respond to any tender document, by whatever name called, which does not prescribe any minimum fees for availing the professional services which are exclusively reserved for chartered accountants under any statute.
Provided, a member in practice may respond to tenders, wherever the minimum fees of the given assignment is prescribed in the tender documents issued for availing the professional services which are exclusively reserved for chartered accountants under any statute. The fee quoted by the member in response to such tenders shall not be less than the minimum fees, prescribed in the tender document.
iii. The fees quoted by the member should not be extremely low whether or not the tender is issued in the area of services exclusively reserved for chartered accountants and it shall be commensurate with the size, value, volume, manpower requirement and nature of work.
iv. In all cases where the member responds to the tender document, a cost sheet shall be maintained incorporating details of the estimated costs to be incurred therein having regard to number of persons involved, hours to be spent, etc. The Institute may call for any such documents from the member relating to any bid submitted by members in response to a tender.
Explanation:
1. The expression “Minimum Fee” used in these Guidelines includes ‘estimated fee’ or ‘professional fee’ or ‘average fee’ by whatever name called.
2. A member of the Institute in practice may respond to the tenders, for services notexclusively reserved for chartered accountants by any statute, irrespective of:
a. whether or not the minimum fee, by whatever name called, is prescribed in the tender document.
b. whether or not only chartered accountants are invited to respond.
3. These Guidelines shall not apply, where quotations have been called for from practising members/firms through individual letters.
4. Responding to reverse bidding option provided by the tenderer below minimum fee is not permitted.
5. These guidelines shall be read in conjunction with our earlier Guideline No. 1-CA(7)/03/2016 dt. 7th April, 2016.
CA. (Dr.) Jai Kumar Batra
Secretary
