CA Final important Amendments for September 2025

Last updated on 16th May,2025 5788

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Institute of Chartered Accountants of India (ICAI) has declared amendments for the September 2025 attempt of the CA final course and are available to download.

All the updates up to 30^th April 2025 are relevant for the final course that is held in September 2025. ICAI has announced significant standards, guidance notes, Legislative amendments, and much more.

Aspirants may download the final amendments for the September 2025 exams topic-wise. Companies Act and Finance Act, Notifications, Accounting standards, standards on auditing (SAs), Guidance notes (GNs), etc.

The amendments are also available for September 2025 is appropriate for the new syllabus as well as the old syllabus.  You must once go through these amendments before your actual examination at least 6 months.

This article is made for you to understand these amendments, the latest updated notes, and news for the September 2025 exams.

Either you can download these Materials from the official website or just continue reading this article for more information:

·         Study Materials (latest edition)

·         Additional Reading material

·         Supplementary Study Materials

·         CA Final Practice Manual

·         Compilation of Suggested Answers

PAPER 1: Financial Reporting (FR)

Financial reporting has 17 chapters in the syllabus. You can download the financial reporting study material of September 2025 which is still applicable for September 2025 and you can also go through Accounting RTP 2025 for CA final amendments for that “refer to the official announcement of ICAI dated 16.06.2024”

The applicable Amendments, Notifications, Circulars, and Rules which have already been declared by the Companies Act from 2013 up to 30^th April 2024 are also relevant for the September 2025 final exam.

·         Indian Accounting Standard (Ind AS) 16: Property, Plant and Equipment

        Appendix B- Stripping Costs in the Production Phase of a Surface Mine

·         Indian Accounting Standard (Ind AS) 37: Provisions, Contingent Liabilities and Contingent Assets

        Appendix A: Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds

        Appendix B: Liabilities arising from Participating in a Specific Market — Waste Electrical and Electronic Equipment

·         Indian Accounting Standard (Ind AS) 29: Financial Reporting in Hyperinflationary Economies.

·         Indian Accounting Standard (Ind AS) 104: Insurance Contracts

·         Indian Accounting Standard (Ind AS) 106: Exploration for and Evaluation of Mineral Resources.

·         Indian Accounting Standard (Ind AS) 114: Regulatory Deferral Accounts

·         Analysis of financial statements based on Accounting Standards.

The above topics have been removed from the syllabus since May-July 2021.

Paper-2 SFM (Strategic Financial Management)

 

SFM (Strategic Financial Management) has 14 chapters. Download SFM Study Material September 2025 Edition and CA Final SFM RTP September 2025,” Refer ICAI Announcement dated 16.06.2024”.

Some important Topics in SFM RTP September 2025 cover almost the entire syllabus. Security valuation, mutual funds, portfolios, derivatives, international financial management, foreign exchange, IRR, corporate valuation, mergers, acquisitions, and corporate restructuring are the most important topics.

There is not a single recent update in the last 6 months for SFM’s paper.

 

Paper-3: AAPE (Advanced Auditing and Professional Ethics)

Download the study material of the September 2025 edition of Audit and Ethics

If you want to download the Audit and Ethics November 2020 edition’s Study Material for the September 2025 examination, the CA Final auditing RTP for September 2025 is also useful. [ICAI Announcement dated 16.06.2024]

 

In July 2021: ICAI Institute updated four chapters of the CA Final audit paper applicable for September 2025 exams in the new syllabus; you can download the respective amended chapters here:

 

New Syllabus: Academic Updates (Amendments) applicable for Final level exams September 2025. The Companies audit and auditors amendment rules 2025.

    Chapter-5: Company Audit

    Chapter-11: Audit of Non-Banking Financial Companies

    Chapter-13: Audit of Public Sector Undertakings

    Chapter-14: Liabilities of Auditor

 

Old Syllabus: Revision of Tax Audit Report vide Notification No. 28/2024 dated 01.04.2024.

 

    Chapter 6: The Company Audit

    Chapter 7: Liabilities of Auditors

    Chapter 8: Audit Report

    Chapter 9: Audit Committee and Corporate Governance

    Chapter 10: Audit of Consolidated Financial Statements

    Chapter 14: Audit of Non-Banking Financial Companies

    Chapter 15: Audit under Fiscal Laws

    Chapter-18: Audit of Public Sector Undertakings

    Chapter 19: Internal Audit, Management, and Operational Audit

    Chapter 20: Investigations and Due Diligence

    Chapter 21: Peer Review

    Chapter 22: Professional Ethics

 

Statement Reporting under Section 227(1A) of the Companies Act, 1956 Section 143(1) of the Companies Act, 2013.

1.       Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements [SQC 1]

2.       Overall Objectives of the Independent Auditor and the Conduct of an Audit following Standards on Auditing [SA 200]

3.       Agreeing the Terms of Audit Engagements [SA 210]

4.       Quality Control for Audit of Financial Statements [SA 220]

5.       Audit Documentation [SA 230]

6.       The Auditor’s responsibilities relating to Fraud in an Audit of Financial Statements [SA 240]

7.       Consideration of Laws and Regulations in an Audit of Financial Statements [SA 250]

8.       Communication with Those Charged with Governance (Revised) [SA 260]

9.       Communicating Deficiencies in Internal Control to Those Charged with Governance and Management [SA 265]

10.    Joint Audit of Financial Statements (Revised) [SA 299]

11.    Planning an Audit of Financial Statements [SA 300]

12.    Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment [SA 315]

13.    Materiality in Planning and Performing an Audit [SA 320]

14.    The Auditor’s Responses to Assessed Risks [SA 330]

15.    Audit Considerations Relating to an Entity Using a Service Organization [SA 402]

16.    Evaluation of Misstatements Identified during the Audits [SA 450]

17.    Audit Evidence [SA 500]

18.    Audit Evidence – Specific Considerations for Selected Items [SA 501]

19.    External Confirmations [SA 505]

20.    Initial Audit Engagements-Opening Balances [SA 510]

21.    Analytical Procedures [SA 520]

22.    Audit Sampling [SA 530]

23.    Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures [SA 540]

24.    Related Parties [SA 550]

25.    Subsequent Events [SA 560]

26.    Going Concern (Revised) [SA 570]

27.    Written Representations [SA 580]

28.    Using the Work of Another Auditor [SA 600]

29.    Using the Work of Internal Auditors (Revised) [SA 610]

30.    Using the Work of an Auditor’s Expert [SA 620]

31.    Forming an Opinion and Reporting on Financial Statements (Revised) [SA 700]

32.    Communicating Key Audit Matters in the Independent Auditor’s Report (New) [SA 701]

33.    Modifications to the Opinion in the Independent Auditor’s Report (Revised) [SA 705]

34.    Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report (Revised) [SA 706]

35.    Comparative Information – Corresponding Figures and Comparative Financial Statements [SA 710]

36.    The Auditor’s Responsibility about Other Information (Revised) [SA 720].

 

 

1.       Guidance Note on Audit under Section 44AB of the Income-tax Act.

2.       Guidance Note on Audit of Banks.

3.       Guidance Note on Audit of Internal Financial Controls over Financial Reporting.

 

Other Important amendments

 

·         The applicable notified Sections of the Companies Act, 2013, and legislative amendments including applicable Notifications / Circulars / Rules / Guidelines issued by Regulating Authority up to 30th April 2024 will be applicable for the September 2025 Examination.

·         SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

·         Companies (Auditor’s Report) Order, 2016 [CARO 2016] is applicable for September 2025 exams. CARO 2020 NOT Applicable. Refer to the ICAI Announcement for CARO applicability dated 24th July 2024.

·         Audit provisions under GST Laws are applicable for the  September 2025 Examination.

·         Revised Statement on Peer Review and Quality Review are applicable for the September 2025 Examination

·         Revised Chapter on Professional Ethics based on the Code of Ethics 2020 is applicable for the September 2025 Examination.

 

 

 

Relevant Amendments for Company Law Paper September 2025 examinations:

 

·         Amendments made through the enforcement of various sections of the Companies (Amendment) Act, 2020 through different Notifications.

·         Ministry of Corporate Affairs vide Notification 5.0. 1256(E), dated 18th March 2024 amends Schedule V of the Companies Act 2013.

·         Amendment in Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 vide Notification dated G.S.R. 774(E) dated 18th December 2020.

 

SECURITIES LAWS: SEBI ACT 1992

 

Through the Finance Act, 2021 w.e.f 1st April 2024, in section 12, the below provision has been added after 1(B):

 

(1C) No person shall sponsor or cause to be sponsored or carry on or cause to be carried on the activity of an alternative investment fund or a business trust as defined in clause (13A) of section 2 of the Income-tax Act, 1961 unless a certificate of registration is granted by the Board in accordance with the regulations made under this Act.

ECONOMIC LAWS: FEMA 1999

 

Vide Notification No. FEMA 23(R)/(4)/2021-RB, dated January 08, 2021, the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021 has been enacted,

 

In exercise of the powers conferred by clause (a) of sub-section (1 ), sub-section (3) of section 7 and clause (b) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 through the enforcement of the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021

 

In the Principal Regulations, in regulation 4, for sub-regulation (ea), the following shall be substituted, namely:-

 

“(ea) re-export of leased aircraft/helicopter and/or engines/auxiliary power units (APUs), either completely or in partially knocked down condition repossessed by overseas lessor and duly deregistered by the Directorate General of Civil Aviation (DGCA) on the request of Irrevocable Deregistration and Export Request Authorisation (IDERA) holder under ‘Cape Town Convention’ or any other termination or cancellation of the lease agreement between the lessor and lessee subject to permission by DGCA/Ministry of Civil Aviation for such export/s.”

 

You may download the ICAI official announcement for amendments made in Paper-4 applicable for CA Final September 2025 exams. January 2024 edition of MCQs and Case Scenarios Booklet (Corrigendum) shall be relevant for the coming September 2025 examinations.

Paper-5 SCMPE (Strategic Cost Management and Performance Evaluation)

 

Download SCM & PE Study Material November 2020 Edition is applicable for September 2025. You should go through costing RTP September 2025 for CA Final amendments. [Refer to ICAI Announcement dated 16.06.2021]

 

According to the CA Institute’s announcement made in July 2021, the Chapter 5 on the topic “Cost Management for Specific Sector” has been deleted and therefore not applicable to September 2025 Final level exams. Note that the Case Study Digest February 2021 Edition and additional resource Knowledge Update/ Capsule are relevant for the September 2025 examinations.

Paper-6 EP (Elective Papers)

Paper-6A RM (Risk Management)

 

The pattern of examination for this paper is open-book and case study-based. The entire content included in the August 2019 edition of the Study Material shall be relevant for the September 2025 examination.

Paper-6B FSCM (Financial Services and Capital Markets)

 

The pattern of exam for this paper-6A is also open-book and case study-based. The following edition of the study material of the Financial Services and Capital Markets (FSCM) paper shall be relevant for September 2025 term of exams:

 

·         For PART-A: November 2020 Edition

·         For PART-B (SEBI Regulations): July 2021 Edition.

 

Paper-6C IT (International Taxation)

 

November 2020 Edition of Study Material, February 2021 Edition of Case Study Digest is applicable for CA Final Paper-6B. You may download the statutory update for September 2025 examination.

 

Chapter 1: Transfer Pricing

 

Amendments in Rule 10DB concerning the prescribed income-tax authority and threshold limit for applicability of CbC reporting and consequential amendment in Rule 10DA read with section 92D [Notification No. 31/2021, dated 5.4.2021]

 

Section 286 contains the provisions for furnishing of reports in respect of international groups to the prescribed authority. Rule 10DB, for this purpose, prescribes the income-tax authority.

 

As per section 286(7), the Country by Country (CbC) reporting provision shall apply with respect to an international group for an accounting year, if the total consolidated group revenue as reflected in the consolidated financial statement (CFS) for the accounting year preceding such accounting year is above the prescribed threshold i.e., Rs.5,500 crores. This threshold has been increased from Rs.5,500 crores to Rs.6,400 crores vide this notification effective from 1.4.2021.

 

Also, Rule 10DB(1) now provides that the income-tax authority for section 286 would be the Joint Director as may be designated by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be.

 

Amendment in Rule 10DA:

 

Section 92D(1)(ii) provides that every person, being a constituent entity of an international group, has to keep and maintain the prescribed information and documents in respect of the international group. Section 92D(4) provides that such information and documents have to be furnished to the authority prescribed u/s 286(1) on or before the prescribed date in the prescribed manner.

 

The prescribed income-tax authority under section 92D read with Rule 10DA would be Joint Director as may be designated by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be.

 

Accordingly, as per Rule 10DA(2), the information and document shall be furnished in Form No. 3CEAA to the Joint Director as may be designated by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, and it shall be furnished on or before the due date for furnishing the return of income specified under section 139(1).

 

As per Rule 10DA(4), where there is more than one constituent entities resident in India of an international group, then, the Form No 3CEAA may be furnished by any one constituent entity if such constituent entity has been so designated by the international group for this purpose and such information has been conveyed in Form 3CEAB to Joint Commissioner referred to in Rule 10DB(1) in this behalf, thirty days before the due date of furnishing the Form No. 3CEAA. This sub-rule (4) has also been amended vide this notification to provide that where there are more than one constituent entity of an international group required to file the information and document under Rule 10DA(2), then, Form No. 3CEAA may be furnished by any one constituent entity, if such constituent entity has been so designated by the international group for this purpose and such information has been conveyed in Form 3CEAB to Joint Director as may be designated by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, in this behalf thirty days before the due date of furnishing the Form No. 3CEAA.

Paper-6D EL (Economic Laws)

 

·         Study material, May 2024

·         Significant Case Laws, December 2023

·         Case Study Digest, February 2024

·         Significant Amendments for September 2025 examinations

 

Paper-6E GFRS (Global Financial Reporting Standards)

 

Download Case Study Digest February 2024 edition is relevant for your exams to be held in September 2025.

1.       Relevant Study Material and Scope of Coverage of the Content

 

November 2023 edition of the Study Material is relevant for September 2025 examination.

 

The study material contains the amendments in IFRS equivalent to the corresponding amendments that took place in Ind AS till 31st October 2020. In case any amendment had taken place in IFRS but the same is yet to be notified in Ind AS, then it would not be applicable for this paper for September 2025 examination.

 

As regards the topic of ‘Significant differences between IFRS and US GAAPs’, the content as covered in the chapter given in the study material would be relevant for September 2025 examination. The same file has also been uploaded on the website at the link https://resource.cdn.icai.org/48696bos32691a.PDF.

2.       Non-applicability of certain International Financial Reporting Standards (IFRS) and IFRS Interpretations (IFRICs)

 

    Since the Core paper on Financial Reporting does not cover Ind AS equivalent to IAS 26, IAS 29 (including IFRIC 7), IFRS 4, IFRS 6, IFRS 14, and IFRS 17, the same IFRS shall also not form part of the GFRS Paper. Similarly, in applicable Ind AS there are no corresponding Appendices on IFRIC 2, IFRIC 9, and SIC 7, hence the same shall also not form part of the GFRS Paper.

 

Paper-6F MCS (Multidisciplinary Case Study)

 

The Multi-disciplinary case study would involve the application of two or more of the seven core subjects at the Final level. The list of seven core subjects at the final level is given as under:

 

Paper-1: Financial Reporting

Paper-2: Strategic Financial Management

Paper-3: Advanced Auditing and Professional Ethics

Paper-4: Corporate and Economic Laws

Paper-5: Strategic Cost Management and Performance Evaluation

Paper-7: Direct Tax Laws & International Taxation

Paper-8: Indirect Tax Laws

 

The applicability/ non-applicability of Standards/ Guidance Notes/ Legislative Amendments etc. for Paper 6F: Multidisciplinary Case Study for September 2025 Examination would be the same as applicable for each of the above individual papers.

Paper-7 DTL and IT (Direct Tax Laws and International Taxation)

 

The May 2024 edition of the Study Material is relevant for the September 2025 examinations. The entire content included in the May 2024 edition of the Study Material (except the exclusions mentioned herein) shall be relevant for the September 2025 term of examinations.

 

Booklet on MCQs [Corrigendum] and Case Scenarios [Jan 2024 edition] and Statutory Update and Judicial Update for September 2025 examination.

 

Applicability of Finance Act, Assessment Year for September 2025 Examination

 

The provisions of direct tax laws, as amended by the Finance Act, 2020 including significant notifications, circulars, and press releases issued up to 30th April 2024, are applicable for September 2025 examination. The relevant assessment year is AY 2021-22.

 

Students may refer to the May 2024 edition of the Study Material, which contains the provisions of direct tax laws relevant for September 2025 examination.

 

Scope of coverage of certain topics in Part II: International Taxation

 

As regards certain topics on International Taxation, namely, Overview of Model Tax Conventions, Application & Interpretation of Tax Treaties, and Fundamentals of Base Erosion and Profit Shifting, the specific content as covered in the May 2024 edition of the Study Material would be relevant for September 2025 Examination.

Paper-8 ITL (Indirect Tax Laws)

 

January 2024 Edition of Booklet on MCQs and Case Scenarios along with Statutory Update for September 2025 Examination read with the Revisions in ICAI BoS Publications.

 

Though the Statutory Update for September 2025 examination shall provide the precise scope and coverage of the amendments, for the sake of clarity, it may be noted that the amendments made in the various provisions of the GST law for providing relief to the taxpayers because of the spread of Novel Corona Virus (COVID-19) shall not be applicable for September 2025 examinations.

 

The entire content included in the May 2024 edition of the Study Material (except the exclusions mentioned herein) and the Statutory Update for the September 2025 examination shall be relevant for the September 2025 session of the final examination.

 

The following are applicable for September 2025 examination:

 

·         The provisions of CGST Act, 2017 and IGST Act, 2017 as amended by the Finance Act, 2020 and the Finance (No. 2) Act, 2019, which have become effective up to 30th April 2024, including significant notifications and circulars issued and other legislative amendments made, up to 30-April-2024.

·         The provisions of the Customs Act, 1962 and the Customs Tariff Act, 1975, as amended by the Finance Act, 2020, including significant notifications and circulars issued and other legislative amendments made, up to 30th April 2024.

 

The Study Guidelines given below specify the exclusions from the syllabus for the September 2025 examination. Download the Provisions that are excluded from the corresponding topic of the syllabus.

 

Part-I: Goods and Services Tax (GST)

 

Levy and collection of CGST and IGST:

 

o    Rate of tax prescribed for supply of goods*

o    Rate of tax prescribed for supply of services*

o    Exemptions for supply of goods

o    Categories of supply of goods, tax on which is payable on a reverse charge basis

 

*Rates specified for computing the tax payable under the composition levy are included in the syllabus.

 

Time and Value of Supply:

 

Value of supply in cases where Kerala Flood Cess is applicable.

 

Input tax credit:

 

    (i) Manner of determination of input tax credit in respect of inputs, input services, and capital goods and reversal thereof in respect of real estate projects

    (ii) Manner of reversal of credit of additional duty of customs in respect of Gold dore bar

 

Procedures under GST

 

    (i) Furnishing of GSTR-2, GSTR-1A and GSTR-3

    (ii) Matching, reversal & reclaim of input tax credit

    (iii) Matching, reversal & reclaim of reduction in output tax liability.

 

Other provisions: Transitional Provisions

 

Part II: Customs & FTP

 

Completely deleted:-

 

    (v) Officers of Customs; Appointment of customs ports, airports, etc.

    (vii) Provisions relating to coastal goods and vessels carrying coastal goods

    (viii) Warehousing

    (x) Demand and Recovery

    (xi) Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/exportation of goods

    (xii) Searches, seizure and arrest; Offences; Penalties; Confiscation and Prosecution

    (xiii) Appeals and Revision; Advance Rulings; Settlement Commission

    (xiv) Other provisions

 

Applicability of the Finance (No. 2) Act, 2019: All the amendments made by the Finance (No. 2) Act, 2019 are applicable for September 2025 examinations except the amendments which have not become effective till 30.04.2024 namely, amendments made in sections 2(4), 95, 102, 103, 104, 105 and 106 of the CGST Act, 2017 and the insertion of new sections 101A, 101B & 101C in the CGST Act, 2017.