Cost Sheet

Requirement to maintain Cost-Sheet

The Council of ICAI at its 301st meeting held in December, 2010 decided that a Cost sheet be maintained by the members of the Institute responding to tenders and accepting the professional work based thereupon, incorporating details of the costs being incurred therein having regard to number of persons involved, hours to be spent, etc., so that the same may be called for by the Institute for perusal.

The format of Cost Sheet is given below:

Name of the Firm:-


Particulars No. Visits per Month Hours devoted Cost per hour Cost per hour Cost per hour
Salary to:
Chartered Accountant
Paid Assistant
Other Staff
Stipend to:
Other Expenses:
Lodging and Boarding
Local Conveyance
Office overheads
Grand Total (A+B+C)

Submission of details of financial bids

In order to ascertain the reasonability of the quoted amount, the Tender Monitoring Directorate proposed to the Council of ICAI to request the members/ CA firms participating in tenders to furnish financial bid quoted by them along with supportive information, in addition to the cost sheet, in the requisite format.

The Code of Ethics at para has already incorporated earlier decision of the Council as under:
“The Institute can call for any papers/ documents related to bids submitted by members in response to respective tender.”

The Council at its 421st meeting held on 25th May, 2023 has decided to authorise the Directorate to call for financial bids in the format, apart from the cost sheet. The said format can be seen and filled up by clicking the following link: