ICAI suggested answers May 2026: Final, Inter, Foundation
ICAI suggested answers May 2026 are out for CA Final, Inter and Foundation, paper by paper and as group volumes, on ICAI's suggested answers pages. For CA Inter, ICAI has also published the September 2026 suggested answers, linked below; the September 2026 Foundation set is not on ICAI's Foundation page yet. Every paper's link is in the tables below.
Finding them is the easy part. To use them, write the paper by hand in the full time, mark the MCQs against ICAI's answer key, and compare each descriptive answer with ICAI's step by step, not just the final figure. This guide gives you the links by level, what the suggested answers are and are not, and a five-step way to check yourself honestly. Every fact about ICAI's material is linked to its source.
ICAI suggested answers May 2026: paper-wise links
All links go to ICAI's own site (PDF). Each PDF prints the questions too, so you don't need the question paper separately.
ICAI suggested answers May 2026, CA Final
| Paper | Suggested answers | Practise it |
|---|---|---|
| 1. Financial Reporting | PDF (opens in a new tab) | FR mock tests |
| 2. Advanced Financial Management | PDF (opens in a new tab) | AFM mock tests |
| 3. Advanced Auditing, Assurance and Professional Ethics | PDF (opens in a new tab) | Audit mock tests |
| 4. Direct Tax Laws & International Taxation | PDF (opens in a new tab) | DT mock tests |
| 5. Indirect Tax Laws | PDF (opens in a new tab) | IDT mock tests |
| 6. Integrated Business Solutions | PDF (opens in a new tab) | IBS mock tests |
| Group I volume (with examiners' comments) | PDF (opens in a new tab) | |
| Group II volume (with examiners' comments) | PDF (opens in a new tab) |
ICAI page: Final suggested answers, May 2026 (opens in a new tab). Which attempt to solve first for November 2026, paper by paper, is in CA Final suggested answers May 2026 PDF.
ICAI suggested answers May 2026, CA Inter
| Paper | Suggested answers |
|---|---|
| 1. Advanced Accounting | PDF (opens in a new tab) |
| 2. Corporate and Other Laws | PDF (opens in a new tab) |
| 3. Taxation | PDF (opens in a new tab) |
| 4. Cost and Management Accounting | PDF (opens in a new tab) |
| 5. Auditing and Ethics | PDF (opens in a new tab) |
| 6. Financial Management and Strategic Management | PDF (opens in a new tab) |
| Group I volume (with examiners' comments) | PDF (opens in a new tab) |
| Group II volume (with examiners' comments) | PDF (opens in a new tab) |
ICAI page: Intermediate suggested answers, May 2026 (opens in a new tab). Inter papers by section: CA Intermediate past papers. January 2026, September 2025 and May 2025, paper by paper, are in CA Inter suggested answers May 2026 PDF.
ICAI suggested answers May 2026, CA Foundation
| Paper | Suggested answers |
|---|---|
| 1. Accounting | PDF (opens in a new tab) |
| 2. Business Laws | PDF (opens in a new tab) |
| 3. Quantitative Aptitude | PDF (opens in a new tab) |
| 4. Business Economics | PDF (opens in a new tab) |
| Full volume (with examiners' comments) | PDF (opens in a new tab) |
ICAI page: Foundation suggested answers, May 2026 (opens in a new tab). Foundation papers by section: CA Foundation past papers. January 2026, September 2025 and May 2025, paper by paper, are in CA Foundation suggested answers May 2026 PDF.
ICAI suggested answers Sept 2026 and Jan 2026
September 2026 (Inter): out. All six papers are on ICAI's Intermediate September 2026 page (opens in a new tab) on icai.org: Paper 1 (opens in a new tab), Paper 2 (opens in a new tab), Paper 3 (opens in a new tab), Paper 4 (opens in a new tab), Paper 5 (opens in a new tab), Paper 6 (opens in a new tab). September 2026 (Foundation): not on ICAI's Foundation (opens in a new tab) suggested answers page yet; it still lists May 2026 as the latest attempt. There was no September 2026 CA Final exam, so there will be no Final set for it.
January 2026: available for all three levels, in English and Hindi: Foundation (opens in a new tab), Intermediate (opens in a new tab), Final (opens in a new tab).
What are ICAI suggested answers?
They are ICAI's own model answers to each past exam paper, published free by its Board of Studies for every attempt, paper by paper and as one volume per group. You find them on the suggested answers pages for Foundation (opens in a new tab), Intermediate (opens in a new tab) and Final (opens in a new tab).
Each suggested answer PDF:
- prints the question with its answer, so you don't need the question paper separately;
- gives an answer key for the MCQs in Part I, in a table of question number and correct option;
- shows the working notes and formats ICAI uses for the descriptive answers;
- sometimes gives alternative answers. In the May 2026 Intermediate Taxation answers, for example, a note marked "(Alternate answer)" explains a second reasonable view of the facts and how the answer changes. In the May 2026 Final Financial Reporting answers, one part says "Alternatively, Segment M can be considered as a reportable segment" and works that out too (Intermediate Group I volume, May 2026, PDF (opens in a new tab); Final Group I volume, May 2026, PDF (opens in a new tab)).
The group volumes also end with the examiners' comments on how candidates actually answered each question. We cover those in ICAI examiners' comments: 6 mistakes that cost CA marks. To see how ICAI's examiners check the answer book itself, read how ICAI checks papers.
Are ICAI suggested answers the marking scheme?
No. The first page of every group volume says this:
"The Suggested Answers published in this volume do not constitute the basis for evaluation of the students' answers in the examination. The answers are prepared by the Faculty of the Board of Studies (Academic) with a view to assist the students in their education."
So a suggested answer shows you what a complete, well-presented answer looks like. It is not a marking scheme. Your answer can be worded differently and still be right, and the alternative answers show that ICAI itself accepts that more than one view can be reasonable.
Before you check: write the past paper like the real exam
Checking is only useful if the attempt was real.
- Pick a paper you haven't seen, from a recent attempt.
- Write it by hand, in the full time, closed book (CA Final Paper 6 is open book, as in the exam). That is 3 hours for most papers, 2 hours for Foundation Papers 3 and 4, and 4 hours for Final Paper 6 (see our exam pattern guides for CA Foundation, CA Inter and CA Final).
- Follow the printed instructions. The May 2026 Intermediate Paper 1, reprinted in the suggested answers, says: "Wherever necessary, suitable assumptions may be made and indicated in answer by the candidates. Working Notes should form part of the answer" (Paper 1, May 2026, PDF (opens in a new tab)).
Only open the suggested answers after you have finished the whole paper.
How to check your CA answers with ICAI suggested answers: 5 steps
Mark the MCQs against the key, compare each written answer step by step, look for a stated reason before marking it wrong, sort every lost mark, then read the examiners' comments. In detail:
1. Mark the MCQs against the answer key
Tick or cross each MCQ using the answer key table. Count your marks. In Foundation Papers 3 and 4, remember to deduct for wrong answers, as explained in our CA Foundation exam pattern guide. For every wrong MCQ, read the case scenario again and find the exact fact you missed.
2. Compare the structure, not just the final figure
For a numerical answer, a matching final figure is not the whole check. Compare your answer with ICAI's, step by step:
- Did you use the same format, such as Schedule III for a balance sheet, with notes to accounts?
- Are your working notes there, labelled and easy to follow?
- Where you went wrong, from which step did your figures start to differ?
For a theory, law or audit answer, check that you did three things: stated the relevant provision, applied it to the facts given, and wrote a clear conclusion. ICAI's examiners repeatedly mark down answers that skip the middle step. In May 2026, for Foundation Business Laws Question 1(a), they wrote that "Many examinees provided generalized answers instead of analysing the facts in the light of the relevant legal provisions" (Foundation volume, May 2026, PDF (opens in a new tab)).
3. If your answer differs, look for a reason before marking it wrong
Check whether the suggested answer has a note or an alternative answer that matches your approach. Check whether you made an assumption and wrote it down, as the instructions ask. A different answer with a stated, reasonable assumption is not the same as a mistake. A different answer with no explanation usually is.
4. Put every lost mark in one group
Use four groups. A worked example: you lost 6 marks in a 14-mark FR question: 3 for a wrong discount rate (concept), 2 for missing notes to accounts (presentation), 1 for an arithmetic slip (calculation). The fix for each is different.
| Group | Example | What to do next |
|---|---|---|
| Concept not known | You didn't know the treatment at all | Revise the chapter from the study material |
| Misread the question | You answered a different requirement | Underline every requirement before you write |
| Calculation error | Right method, wrong arithmetic | Slow down on the steps where you slipped |
| Presentation | Missing format, notes or working notes | Practise the format until it is automatic |
After a few papers, the table tells you where your marks are really going.
5. Read the examiners' comments for the same paper
They tell you what ICAI's examiners saw in real answer books for that exact question. If your mistake is listed there, it is a common one, and worth fixing first. We grouped the May 2026 comments level by level in ICAI examiners' comments May 2026.
The same method works for ICAI's Mock Test Papers, which ICAI does not check either; the MTP version, with a self-marking sheet, is in ICAI MTP evaluation: how to check your MTP.
Use the suggested answers of the right attempt
Law and tax answers are written for the law that applied in that attempt. The May 2026 Final Paper 4, for example, stated that it related to AY 2026-27, with notifications and circulars up to 31 October 2025 (PDF (opens in a new tab)). If a provision has changed since, an older suggested answer can be out of date for your attempt. Check what applies to you in CA exam applicability: cut-off dates and amendments.
Where self-checking falls short
Checking your own descriptive answers is hard. It is easy to give yourself the benefit of the doubt on a vague sentence, or to miss that a step is absent, and a suggested answer never tells you how many marks a step carries (step marking in CA exams). Two things help: swap papers with a friend and check each other's, and keep the four-group table honest.
Our CA Final mock tests, CA Inter mock tests and CA Foundation test series for January 2027 are checked for you: you write by hand, upload one PDF, and within 24 hours get ICAI-style step-wise marks with the reason for every mark cut.
Frequently asked questions
Where can I find ICAI suggested answers May 2026 for CA Final?
On ICAI's Final May 2026 page (opens in a new tab), paper by paper and as Group I and Group II volumes. The paper-wise links are in the CA Final table above.
Where are the CA Inter and CA Foundation suggested answers May 2026?
On ICAI's Intermediate May 2026 (opens in a new tab) and Foundation May 2026 (opens in a new tab) pages. Paper-wise links are in the tables above.
Are the ICAI suggested answers for Sept 2026 out?
For CA Inter, yes: all six papers are on ICAI's Intermediate September 2026 page (opens in a new tab), linked paper by paper above. For CA Foundation, not yet: ICAI's Foundation page still lists May 2026 as the latest.
Are ICAI suggested answers used to evaluate the exam?
No. Every group volume says the suggested answers "do not constitute the basis for evaluation of the students' answers in the examination". They show what a complete, well-presented answer looks like, not a marking scheme.
Do ICAI suggested answers include the questions and the MCQ answer key?
Yes. Each suggested answer PDF prints the question with its answer and gives an answer key for the Part I MCQs, in a table of question number and correct option.
Can I use older ICAI suggested answers for my attempt?
For practice, yes, but law and tax answers are written for the law that applied in that attempt. If a provision has changed since, an older answer can be out of date, so check what applies for your attempt.
Where to get the official papers
- Suggested answers, with the questions: Foundation (opens in a new tab), Intermediate (opens in a new tab), Final (opens in a new tab)
- Everything in one place, with direct PDF links: CA Foundation, CA Intermediate and CA Final free resources
Get your CA answers checked
Self-checking with suggested answers is free and worth doing for every past paper. When you want a second pair of eyes, our CA mock tests for Final, Inter and Foundation are full-syllabus papers on the latest ICAI pattern, checked line by line with the correct line to write for every mark cut, returned within 24 hours.
- CA Final Group I mock tests: FR, AFM, Audit
- CA Final Group II mock tests: DT, IDT, IBS
- CA Inter test series for January 2027: Group I, Group II or both groups
- CA Foundation test series for January 2027: all four papers
See every level on our CA test series home page. ICAI's Foundation past papers and suggested answers are free on our CA Foundation free resources page.