ICAI Council Issues Decision on Extremely Low Fee Quotations in Tenders

The Council of the Institute of Chartered Accountants of India (ICAI) has issued an announcement regarding fee quotations submitted by members or firms in tender-related assignments. As per the decision, if the fee quoted by a Chartered Accountant member or CA firm is found to be extremely low and not proportionate to the size, value, volume, manpower requirement and nature of the work, the matter may be referred to the Director (Discipline) for appropriate action. The decision will apply irrespective of whether the tender relates to an area of service exclusively reserved for Chartered Accountants or not. The announcement was issued by the Professional Development Committee of ICAI on 2nd July 2026. (CASANSAAR)