Prepared on 26 October 2026. This article provides general information, not advice on a particular case. Check subsequent amendments, notifications and the facts of your matter before acting.
ICAI’s revised, thirteenth-edition Code of Ethics applies from 1 April 2026, subject to the exception stated in its announcement. The provision concerning specified social-impact, CSR-impact and sustainability-related services referred to in that announcement took effect from 11 December 2025.
What the revised Code covers
ICAI presents the Code in three volumes. Volume I contains domestic provisions and Council guidance. Volume II is converged with the 2024 IESBA Code. Volume III covers ethics standards for sustainability assurance, including independence standards. A business should refer to the applicable requirements rather than assume that every new provision concerns every engagement.
Why engagement questions matter
Questions about ownership, management relationships, other services, records and the purpose of a report help a professional assess the work. They are part of understanding an engagement, rather than a formality to be completed after work has begun.
Clients can make this process more effective by explaining the proposed use of a report, identifying its intended users and sharing relevant information about existing professional appointments. An agreed scope helps distinguish an audit opinion, a certificate, an advisory assignment and routine accounting assistance.
A practical client checklist
- Agree the scope, deliverables, responsibilities and communication arrangements in writing.
- Identify who will provide records, approve information and respond to queries.
- Explain any relationships or other assignments that may need an independence or conflict assessment.
- Use the document-sharing channel agreed with the firm for confidential information.
- Discuss proposed third-party use of a report before circulating it beyond the agreed purpose.
- Keep evidence of decisions, submissions and responses in an organised engagement file.
These are practical suggestions for managing a professional relationship, not a replacement for the Code or the engagement terms. No checklist can predetermine an audit conclusion or guarantee an outcome.
Professional information on websites
The revised framework includes changes to advertisement and website guidance. Those changes do not mean that professional restrictions have disappeared. Any particular statement or publication should be assessed against the relevant Code and Council requirements, rather than copied from another firm’s website.
Official references
- ICAI announcement: revised Code of Ethics, 13th edition
- ICAI statement on the revised Code and professional reforms
- ICAI’s official Code of Ethics publications
© 2026 Aanand & Co. Original commentary; rights in official publications and other third-party material remain with their respective owners.
