ICAI Invites Comments on the Exposure Draft of the 13th Edition of Its Code of Ethics
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- Last Updated on 29 October, 2025
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The Ethical Standards Board of ICAI has released the Exposure Draft of the 13th Edition of the Code of Ethics for public comments. The new edition builds on the 12th edition (effective from July 1, 2020) and introduces significant revisions aligned with the IESBA Code of Ethics (2024 edition) and recent legislative and professional developments in India.
Key highlights of proposed changes:
(a) Alignment of Volume I with the IESBA 2024 Code, including technology-related revisions and a new chapter on Ethics Standards for Sustainability Assurance.
(b) Introduction of “Honesty” and “SatyamevaJayate” within the fundamental principle of integrity.
(c) Expanded applicability of NOCLAR provisions to all listed entities and material subsidiaries.
(d) Revised provisions on fee dependency, public interest entities, and non-assurance services to audit clients.
(e) Updates in Volume II reflecting amendments under the CA, CS, and CWA (Amendment) Act, 2022, new and revised guidelines on advertisements, websites, networking, and permitted business activities, and updated definitions of relatives and partnerships.
(f) Introduction of Guidelines on Ethical Issues (2025) in Volume III, replacing the earlier Council General Guidelines, 2008, with revised limits on indebtedness, audit assignments, and new guidance on minimum fees and non-payment of audit fees.
ICAI has invited comments and suggestions on the Exposure Draft by November 26, 2025. Feedback may be submitted via email at esb@icai.inorashishswaroop@icai.in.
To read the full announcement, click here.
To access the exposure draft of Volume I, click here
To access the exposure draft of Volume II, click here
To access the exposure draft of Volume III, click here
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