ICAI issued Guidelines for responding to Tenders by Chartered Accountants
The ICAI has issued Tender guidelines to Chartered Accountants for responding to tenders with our without prescribing any minimum fee.
GUIDELINES ON TENDERS THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
The Institute of Chartered Accountants of India (ICAI) has issued guidelines for chartered accountants for responding to tenders. The Guidelines are called “The Guidelines for members in practice for responding to the tenders issued by various organizations for availing professional services” The Guidelines comes into force with immediate effect from 12.10.2026.
The Guidelines provide as under:
(i) 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.
(ii) 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.
(iii) 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 not exclusively 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. 1CA(7)/03/2016 dt. 7th April, 2016.
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