CA Final 2025 Syllabus PDF - Download Latest CA Final Syllabus for All Subjects

CA Final Syllabus Issued by

Institute of Chartered Accountants of India

CA Final Syllabus Website

www.icai.org 

CA Final Groups

Group I and Group II

Number of Subjects in CA Final

6 (3 subjects in each group)

CA Final Subjects

Paper 1 - Financial Reporting

Paper 2 - Advanced Financial Management

Paper 3 - Advanced Auditing, Assurance, and Professional Ethics

Paper 4 - Direct Tax Laws and International Taxation

Paper 5 - Indirect Tax Laws

Paper 6 - Integrated Business Solutions

Number of Main Topics in Paper 1

8

15

19

3

2

7

Total Marks

600

Introduction to General Purpose Financial Statements as per Indian Accounting Standard (Ind AS)

• Statutory provisions: Applicability I 10%-15% criteria
• Division II of Schedule III to the Companies Act, 2013 and Guidance Note thereupon

Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) 

-

Application of Ind AS with reference to General Purpose Financial Statements 

• Ind AS on Presentation of Items in the Financial Statements, Ind AS 1 “Presentation of Financial Statements”, Ind AS 34 “Interim Financial Reporting”, Ind AS 7 “Statement of Cash Flows”
• Ind AS on Measurement based on Accounting Policies, Ind AS 8 “Accounting Policies, Changes in Accounting Estimates and Errors”, Ind AS 10 “Events after the Reporting Period”, Ind AS 113 “Fair Value Measurement”
• Ind AS on Income Statement, Ind AS 115* “Revenue from II 5%-10% Contracts with the Customers”
• Ind AS on Assets and Liabilities of the Financial Statements, Ind AS 2 “Inventories”, Ind AS 16 “Property, Plant and Equipment”, Ind AS 116* “Leases”, Ind AS 23 “Borrowing Costs”, Ind AS 36 “Impairment of Assets”, Ind AS 38 “Intangible Assets”, Ind AS 40 “Investment Property”, Ind AS 105 “Non-current Assets Held for Sale and Discontinued Operations”, Ind AS 19 “Employee Benefits”, Ind AS 37 “Provisions, Contingent Liabilities and Contingent Assets”
• Ind AS on Items impacting the Financial Statements, Ind AS 12* “Income Taxes”, Ind AS 21 “The Effects of Changes in Foreign Exchange Rates”
• Ind AS on Disclosures in the Financial Statements, Ind AS 24 “Related Party Disclosures”, Ind AS 33 “Earnings per Share”, Ind AS 108 “Operating Segments”
• Other Ind AS, Ind AS 20 “Accounting for Government Grants and Disclosure of Government Assistance”, Ind AS 102 “Share-Based Payment”, Ind AS 41 “Agriculture”
• Ind AS on Financial Instruments
• Financial Instruments, Scope and Definitions, Classification and Measurement of Financial Assets and Financial Liabilities, Financial Instruments: Equity and Financial Liabilities, Derivatives and Embedded Derivatives, Recognition and Derecognition of Financial Instruments, Hedge Accounting, Disclosures

Ind AS on Group Accounting

• Business Combinations
• Consolidated and Separate Financial Statements

First-time adoption of Indian Accounting Standards (Ind AS 101)

-

Analysis of financial statements (as per Ind AS)

-

Ethics with Accounting Concepts

• Identify and explain the key ethical issues

Technology and Accounting

• Evolution of Accounting in the technological environment 

Financial Policy and Corporate Strategy

• Advanced role of CFO in various matters including Value Creation
• Strategic decision-making framework
• Interface of Financial Policy and strategic management
• Balancing financial goals vis-à-vis sustainable growth

Risk Management

• Identification of types of Risks faced by an organisation
• Evaluation of Financial Risks
• Value at Risk (VAR)
• Evaluation of appropriate method for the identification and management of financial risk

Advanced Capital Budgeting Decisions 

• Current Trends in Capital Budgeting
• Dealing with Risk in Investment Decisions
• Internal and External Factors Affecting Capital Budgeting Decision
• Methods of Incorporating Risk in Capital Budgeting
• Adjusted Present Value
• Optimum Replacement Cycle

Security Analysis

• Fundamental Analysis
• Technical Analysis
• Equity Research and tools available

Security Valuation

• Theory of Valuation
• Return Concepts
• Equity Risk Premium
• Required Return on Equity
• Discount Rate Selection in Relation to Cash Flows
• Approaches to Valuation of Equity Shares
• Valuation of Preference Shares
• Valuation of Debentures/ Bonds
• Role and Responsibilities of Valuers Precautions need to be taken by a Valuer before accepting any valuation assignment

Portfolio Management

• Portfolio Analysis
• Portfolio Selection
• Capital Market Theory
• Portfolio Revision
• Portfolio Evaluation
• Asset Allocation
• Fixed Income Portfolio
• Risk Analysis of Investment in Distressed Securities
• Alternative Investment Avenues (Real Estate, Gold, Private Equity, REITs, Hedge Funds, ETFs, Mutual Funds, Commodities)

Securitization 

• Introduction
• Concept and Definition
• Benefits of Securitization
• Participants in Securitization
• Mechanism of Securitization
• Problems in Securitization
• Securitization Instruments
• Pricing of Securitization Instruments
• Risks in Securitization
• Tokenization
• Securitization in India

Mutual Funds

• Meaning
• Types
• Advantages and Disadvantages of Mutual Funds
• Evaluation of Mutual Funds
• Role of Fund Manager in Mutual Funds
• Hedge Funds
• Role of FIIs in Mutual Funds

Derivatives Analysis and Valuation

• Introduction to Forwards
• Futures and Options
• Futures Market
• Pricing of Forwards and Futures
• Hedging using Futures
• Options
• Credit Derivatives
• Real Options
• Derivative Mishaps and Lessons
• Swaps
• Commodity Derivatives
• Weather Derivatives
• Electricity Derivatives

Foreign Exchange Exposure and Risk Management

• Factors affecting foreign exchange rate
• Role of SWIFT in Foreign Exchange
• National and International Payment Gateways
• Exchange rate determination
• Foreign currency market
• Management of Foreign Exchange Risk

International Financial Management

• International Capital Budgeting
• Raising funds from International Sources
• Sovereign Funds
• International Financial Centre (GIFT City)
• International Working Capital Management

Interest Rate Risk Management

• Benchmark Rates
• Interest Rate Risk
• Hedging Interest Rate Risk

Business Valuation

• Conceptual Framework of Valuation
• Approaches/ Methods of Valuation
• Going Concern and Non-Going Concern Valuation
• Valuation of Distressed Companies
• Valuation of Start-ups
• Valuation of Digital Platforms
• Valuation of Professional/ Consultancy Firms
• Impact of ESG on valuation

Mergers, Acquisitions and Corporate Restructuring

• Conceptual Framework
• Rationale
• Forms
• Mergers and Acquisitions
• Divestitures
• Ownership Restructuring
• Unlocking the value through Mergers & Acquisitions and Business Restructuring
• Cross Border Mergers
• Special Purpose Acquisition Companies (SPACs)

Startup Finance

• Introduction including Pitch Presentation
• Concept of Unicorn
• Startup Initiative of GOI
• Sources of Funding
• Succession planning in Business

Quality Control

• SQC 1 Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information and Other Assurance and Related Services Engagements
• SA 220 Quality Control for an Audit of Financial Statements

General Auditing Principles and Auditors Responsibilities

• SA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements
• SA 250 Consideration of Laws and Regulations in an Audit of Financial Statements
• SA 260 Communication with Those Charged with Governance
• SA 299 Joint Audit of Financial Statements
• SA 402 Audit Considerations Relating to an Entity Using a Service Organisation

Audit Planning, Strategy, and Execution

• SA 300 Planning an Audit of Financial Statements
• SA 450 Evaluation of Misstatements Identified During the Audit
• SA 520 Analytical Procedures
• SA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures
• SA 610 Using the Work of Internal Auditors SA 620 Using the Work of an Auditor’s Expert

Materiality, Risk Assessment and Internal Control

• Evaluation of Internal Control Procedures; Components of Internal Controls; Internal Control and Risk Assessment; auditor’s response to assessed risks; Risk-Based Audit-Audit Risk Analysis; Reporting on Internal Control Weaknesses, Framework on Reporting of Internal Controls
• SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
• SA 330 The Auditor’s Responses to Assessed Risks

Audit Evidence

• Content of SA 500 Audit Evidence
• SA 501 Audit Evidence
• Specific Considerations for Selected Items; SA 505 External Confirmations
• SA 510 Initial Audit Engagements
• Opening Balances
• SA 530 Audit Sampling
• SA 550 Related Parties is covered in depth at the Intermediate level

Completion and Review

• Content of SA 560 Subsequent Event
• SA 570 Going Concern
• SA 580 Written Representation is covered in depth at the Intermediate level

Reporting

• SA 700 Forming an Opinion and Reporting on Financial Statements
• SA 701 Communicating Key Audit Matters in the Independent Auditor’s Report
• SA 705 Modifications to the Opinion in the Independent Auditor’s Report
• SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
• SA 710 Comparative Information – Corresponding Figures and Comparative Financial Statements
• SA 720 The Auditor’s Responsibility in Relation to Other Information

Specialised Areas

• Basic and Overview of SA 800 Special Considerations
• Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks
• Basic and Overview of SA 805 Special Considerations
• Audits of Single Financial Statements and Specific Elements
• Accounts or Items of a Financial Statement
• Basic and Overview of SA 810 Engagements to Report on Summary Financial Statements

Related Services 

• Basic and Overview of SRS 4400 Engagements to Perform Agreed-upon Procedures Regarding Financial Information
• Basic and Overview of SRS 4410 Compilation Engagements

Review of Financial Information

• Basic and Overview of SRE 2400 Engagements to Review Historical Financial Statements
• Basic and Overview of SRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity

Prospective Financial Information and Other Assurance Services

• Basic and Overview of SAE 3400 The Examination of Prospective Financial Information
• Basic and Overview of SAE 3402 Assurance Reports on Controls at a Service Organisation
• Basic and Overview of SAE 3420 Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus

Digital Auditing and Assurance

• Auditing digitally and Digital auditing
• Usage of Automated Tools such as CAAT Data Analytics
• Artificial Intelligence
• Remote Auditing

Group Audits

• Audit of Consolidated Financial Statements - Responsibility of Parent Company
• Auditor of the Consolidated Financial Statements
• Audit Considerations - Permanent Consolidation
• Current Period Consolidation
• Reporting
• Audit of Group Financial Statements including the work of Component Auditors
• SA 600 Using the Work of Another Auditor

Special Features of Audit of Banks & Non-Banking Financial Companies

-

Overview of Audit of Public Sector Undertakings

• Concept of Propriety Audit
• Performance Audit
• Comprehensive Audit

Internal Audit

• Provisions of Internal Audit as per Companies Act, 2013
• Scope of Internal Auditing
• Relationship between Internal and External Auditors
• Basics of Internal Audit Standards issued by the ICAI
• Drafting of Internal Audit Report; Audit Trail
• Internal Audit as a Management Function

Due Diligence, Investigation and Forensic Accounting

• Audit versus Investigation
• Steps for Investigation
• Types of Investigation
• Procedure, Powers, etc., of Investigator
• Types of Fraud
• Indicators of Fraud
• Follow-up III 17%-24% thereof
• Forensic Accountingmeaning
• Difference between Statutory Audit and Forensic Accounting
• Forensic Accounting and Investigation Report
• Introduction of Forensic Accounting and Investigation Standards

Emerging Areas

• Sustainable Development Goals (SDG) & Environment
• Social and Governance (ESG)
• Assurance etc

Professional Ethics and Liabilities of Auditors

• Introduction of Code of Ethics as per IESBA and Code of Ethics with special reference to the relevant provisions of the Chartered Accountants Act, 1949 and the Regulations thereunder
• Application of Fundamental Principles; Application of Threats
• Evaluation of Threats
• Addressing Threats and Safeguards; Conceptual Framework
• Important Provisions of Chartered Accountants Act,1949
• Chartered Accountants Regulations 1988

Comprehensive computation of income-tax liabilities of companies and other entities 

• General provisions under the Act for computation of total income and tax liability for companies and other entities
• Special Provisions relating to charitable and religious trusts and institutions, political parties and electoral trusts etc
• Anti-avoidance provisions under the Act
• Provisions to address tax challenges on digitalisation

Tax Administration and Appellate Mechanism

• Deduction, Collection and Recovery of Tax Income-tax Authorities
• Assessment Procedures
• Appeals and Revision; and Dispute Resolution
• Provisions to counteract unethical tax practices
• Miscellaneous Provisions
• Tax Audit

International Taxation

• Taxation of cross-border transactions and Non-resident taxation under the Income-tax Act, 1961
• Other Aspects of International Taxation, namely

Subjects

Topics

Goods and Services Tax (GST) Law as contained in the Central Goods and Services Tax (CGST) Act, 2017 and Integrated Goods and Services Tax (IGST) Act, 2017 including - 

• Case studies based on Levy and collection of CGST and IGST, Application of CGST/IGST law, Concept of supply, inter-state supply, intra-state supply, Classification, Exemption from tax, Input tax credit, Computation of GST liability etc
• Procedures under GST including registration, tax invoices, credit and debit notes, electronic way-bills, accounts and records, returns, payment of tax
• Refunds and case studies based on refund II 10%-30% provisions
• Job work
• Liability to pay in certain cases 
• Administration of GST; Assessment and Audit
• Demand and Recovery; Offences and Penalties
• Advance Ruling
• Appeals and Revision
• Ethics under GST

Paper 5, Part II - Indirect Tax Laws

Subjects

Topics

Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975

Foreign Trade Policy

Integrated Business Solutions

• Financial Reporting
• Advanced Financial Management
• Advanced Auditing
• Assurance and Professional Ethics
• Direct Tax Laws & International Taxation, Indirect Tax Laws
• Corporate and Economic Laws
• Strategic Cost & Performance Management

CA Final Exam Mode

Pen and Paper Mode/ Offline

CA Final Groups

Groups I and II

CA Final Exam Duration for Papers 1 to 5

3 hours for Paper 1 to 5

CA Final Exam Duration for Paper 6

4 hours for Paper 6

CA Final Exam - Closed or Open Book

Papers 1 to 5 will be a closed-book examination

Paper 6 will be open book examination

Total Number of Papers

6 (3 papers in each group)

CA Final Question Type

A combination of MCQ and Descriptive

CA Final Marks Distribution

• 30 marks on MCQs + 70 marks on descriptive questions for Papers 1 to 5)
• 40 marks on MCQs + 60 marks on subjective questions for Paper 6

CA Final Level of Difficulty

Tough

CA Final Total Marks

600 (100 marks for each paper)

CA Final Negative Marking

No negative marking for MCQ-based questions

Passing Criteria

40% in respective subjects

50% in aggregate