Sir/ Madam,

As you are aware, the 12th edition of the ICAI Code of Ethics was issued with effect from July 1, 2020. Due to changes then, revisions have been proposed in the Code of Ethics. The Exposure Drafts of Code of Ethics may be accessed at:-

Volume-I - https://resource.cdn.icai.org/89062esb-coe-v1.pdf

Volume-II - https://resource.cdn.icai.org/89063esb-coe-v2.pdf

Volume-III - https://resource.cdn.icai.org/89064esb-coe-v3.pdf

A brief summary of the key changes proposed in comparison to the existing 12th edition of Code of Ethics is enclosed as Annexure A.

May we request you to send your inputs/suggestions/comments/feedback on the enclosed Exposure drafts, at esb[at]icai[dot]in / ashishswaroop[at]icai[dot]in within 30 days, i.e latest upto 26th November, 2025.

The comments may alternatively be submitted on https://forms.office.com/r/CunNrHqpck?origin=lprLink

All perspectives are invited. Your comments are valuable to us, and will be considered during finalization of the Code.

Warm regards,

Chairman & Vice-Chairman
Ethical Standards Board