ICAI bars CAs from bidding for reserved services without minimum fees
In short
The ICAI has told chartered accountants they cannot bid for reserved services if the tender does not list a minimum fee.
This may change how CAs respond to public tenders, but the exact services covered and the start date are not stated in the reporting.
What the reporting says
The ICAI has prohibited chartered accountant members from responding to tenders for reserved services that do not include a minimum fee. The reported guidance is aimed at bidding terms for those services and is described as a new restriction on member conduct. The material does not specify which reserved services are covered or when the rule takes effect.
Why it matters
The ICAI has prohibited its chartered accountant members from responding to tenders for reserved services unless a minimum fee is specified. This directly affects how CAs can compete for such work. The reporting does not identify the services covered or explain what prompted the restriction.