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ICAI examiner comments CA Final May 2026, paper by paper

· Updated · 17 min read

ICAI's examiner comments for CA Final May 2026 are printed at the end of the Group I and Group II suggested answers volumes, question by question. The biggest message across all six papers: candidates knew the topic but did not apply it to the facts, skipped working notes and formats, or left questions half done. The paper-wise table below gives the main points in ICAI's words.

May 2026 is the latest CA Final attempt with comments (there was no September 2026 Final), so these are the comments that matter for November 2026. After the Final table come the CA Inter and Foundation May 2026 highlights, then the six mistakes that repeat at every level, with a fix for each. The fixes are our suggestions; every quote links to ICAI.

ICAI examiner comments CA Final May 2026: paper by paper

PaperWhat the examiners flagged (May 2026)Fix for November 2026
1. FRInd AS 103: many "ignored fair value adjustments"; many failed "to follow the formats prescribed under Division II of Schedule III", "omitting Notes to Accounts". Ind AS 116: lessor revenue not taken at the lower of fair value and PV of lease paymentsWrite Schedule III formats with notes until automatic; state the Ind AS rule before the numbers
2. AFMQ1(b): failed "to apply the prescribed H-Model" and used DDM instead. Q3(a): could not integrate IRP, borrowing cost and APV "into a coherent solution". Q4(b): Geometric Mean confused with Arithmetic MeanUse the exact model the question names; practise multi-step forex and valuation sums to the end
3. AuditQ4(a): "incorrectly answered with reference to SA 620 instead of SA 500". Q1(a): "focused only on the final conclusion without describing the additional audit procedures". Q6(b): general fixed-asset audit steps instead of investigation proceduresName the right SA first; write procedures, not just the opinion
4. DTQ1: "attempted the question only partially and could not complete the computation". Q2(a): indexation applied to gold jewellery though not available on transfers "on or after 23.7.2024". Q5: "Most of the examinees did not attempt this question"Finish the computation in outline if short of time; revise amendments; don't skip international tax
5. IDTQ1: extended warranty not identified as composite supply; blocked vs admissible ITC mixed up; many "did not substantiate their answers with appropriate legal reasoning". Q3(c): wrong relevant date for warehoused goodsGive the section and reason with every conclusion
6. IBSQ1.6: most "preferred to copy the general description of the indicated elements from the study material". Q5.7 (lease extension entry) and Q1.8 (tax depreciation): "POOR"Answer about the company in the case, not the textbook

Sources: Final Group I, May 2026, PDF (FR, AFM, Audit) and Final Group II, May 2026, PDF (DT, IDT, IBS). Practise all six against this list in our CA Final test series.

Where ICAI rated performance poor in CA Final May 2026

ICAI rates some questions directly. In AFM, performance was "poor" in Q1(b) (H-Model), Q3(a) (APV with interest rate parity), Q4(b) (Geometric Mean), the Q4(c) OR (collar strategy) and Q5(b) (gap analysis). In IBS, it was "POOR" in Q1.8 and Q5.7 and "BELOW AVERAGE" in Q1.6, Q3.8, Q4.8 and Q5.6. Those topics are worth a second look before November.

ICAI examiner comments CA Inter May 2026

The Inter comments repeat the Final pattern: facts in the question missed, missing particulars and reasoning, and general answers to specific questions. Paper-by-paper detail and what repeated from Jan 2026: ICAI examiner comments CA Inter May 2026.

PaperWhat the examiners flagged (May 2026)
Advanced AccountingQ2: "presentation and disclosure errors resulted in loss of marks". Q3(b): "omission of these important particulars made the journal entries incomplete"
Corporate and Other LawsQ3(c), Rule of Harmonious Construction: "although it was a direct question, many examinees gave generalized answers"
TaxationQ1: "failed to apply the correct depreciation rate on the Pollution control equipment even though the same is stated in the question itself". GST Q5(a): many "failed to support their conclusions with appropriate legal reasoning"
Cost and Management AccountingQ2(b): failed "to compute the correct total fixed cost and cash fixed cost". Q6(a), JIT: performance "Poor"
Auditing and EthicsQ3(a): "while the conclusion was often correct, the reasoning supporting it was incomplete or technically inadequate"
FM and SMQ1(a), leverages: "Most examinees were unable to calculate the current level of sales correctly"

Sources: Intermediate Group I, May 2026, PDF; Intermediate Group II, May 2026, PDF. ICAI's papers and MTPs for Inter are on CA Intermediate free resources.

ICAI examiner comments CA Foundation May 2026

ICAI gave comments for the two written papers, Accounting and Business Laws; Papers 3 and 4 are MCQ papers. Paper-by-paper detail and what repeated from Jan 2026: ICAI examiner comments CA Foundation May 2026.

PaperWhat the examiners flagged (May 2026)
AccountingQ2(a): "Some examinees were unable to provide the necessary working notes". Q6(b): many "only defined the Trial Balance" and "did not address the second part of the question"
Business LawsQ1(a): "generalized answers instead of analysing the facts in the light of the relevant legal provisions". Q2(b): explained equity vs preference shares instead of shares with differential voting rights

Source: Foundation volume, May 2026, PDF. Foundation papers and MTPs: CA Foundation free resources.

Where to find ICAI examiner comments

In the suggested answers: at the end of each group volume for May 2026, and also as separate summary PDFs for January 2026. They are on ICAI's suggested answers pages for Foundation, Intermediate and Final.

The comments go question by question, so read them next to the question paper.

6 mistakes ICAI examiners report at every level

This section pulls the May 2026 and January 2026 comments together into six mistakes that come up in Foundation, Inter and Final alike.

1. Answering a different question from the one asked

This theme appears at every level. Candidates know something related and write that instead.

  • Foundation, Accounting, May 2026, Q6(b): asked to explain the Trial Balance and the errors it does not reveal, "many examinees only defined the Trial Balance and could not explain the types of errors that are not revealed by its agreement. Consequently, they did not address the second part of the question and lost marks."
  • Foundation, Accounting, January 2026, Q5(c): "majority of the examinees passed journal entries of issue of shares despite the question specifically required to record entries for forfeiture and re-issue of the shares only."
  • Final, Advanced Auditing, May 2026, Q4(a): "many examinees incorrectly answered with reference to SA 620 instead of SA 500, resulting in irrelevant and incorrect answer."

Fix: before you write, underline each requirement in the question ("explain", "pass journal entries for", "compute", "and"). Tick each one off as you answer it. A two-part question needs two answers.

2. General answers instead of applying the law to the facts

In law, audit and strategy papers, the examiners keep asking for the provision applied to the case, not a general essay.

  • Foundation, Business Laws, May 2026, Q1(a): "Many examinees provided generalized answers instead of analysing the facts in the light of the relevant legal provisions, resulting in a lack of proper legal application."
  • Final, Direct Tax Laws, May 2026, Q6(a): "A large number of examinees merely repeated the facts given in the question and stated the conclusion without substantiating it with the provisions of section 40(a)(i)".
  • Final, Integrated Business Solutions, May 2026, Q1.6: most examinees "preferred to copy the general description of the indicated elements from the study material."

Fix: use three steps for every such answer: the provision, its application to these facts, and the conclusion. If a sentence in your answer would fit any question on the topic, it is probably not earning marks.

3. Missing a fact that is printed in the question

Some marks are lost not for lack of knowledge, but for not using what the question gives.

  • Intermediate, Taxation, May 2026, Q1: "Majority of the examinees failed to apply the correct depreciation rate on the Pollution control equipment even though the same is stated in the question itself."
  • Intermediate, Taxation (GST), January 2026, Q5(a): some treated a supply as intra-State "even though it is specifically mentioned in the question that wherever details for determining the place of supply are not given in the question, it shall be treated as inter-State transaction."

Fix: read the question once fully before you start, and once more at the end to check that you used every figure and instruction. A fact the examiner printed is there for a reason.

4. Presentation: formats, working notes and particulars

Correct figures in the wrong form still lose marks.

  • Intermediate, Advanced Accounting, May 2026, Q2: errors in classifying trade receivables and disclosing bank balances: "These presentation and disclosure errors resulted in loss of marks."
  • Same paper, Q3(b): candidates accounted for the reconstruction correctly but left out the denomination of shares in the journal entries. "Although the accounting treatment was generally correct, omission of these important particulars made the journal entries incomplete."
  • Final, Financial Reporting, May 2026, Q1: many failed "to follow the formats prescribed under Division II of Schedule III to the Companies Act, 2013, omitting Notes to Accounts and preparing incomplete or inaccurate working notes".
  • Foundation, Accounting, May 2026, Q2(a): "Some examinees were unable to provide the necessary working notes to support their calculations".

Fix: practise the formats until you don't have to think about them. Write working notes as part of the answer, numbered and placed with the question, as the paper instructs.

5. Right conclusion, missing reasoning

A correct "yes" or "no" with no reasoning gets few marks.

  • Intermediate, Auditing and Ethics, May 2026, Q3(a): "while the conclusion was often correct, the reasoning supporting it was incomplete or technically inadequate."
  • Final, Indirect Tax Laws, May 2026, Q1: "Many examinees also did not substantiate their answers with appropriate legal reasoning."

Fix: never write a bare conclusion. Give the rule and the reason first, then the conclusion in one clear line.

6. Leaving questions half done or not attempting them

  • Final, Direct Tax Laws, May 2026, Q1: "A large number of examinees attempted the question only partially and could not complete the computation of total income and tax liability."
  • Same paper, Q5(a): "Most of the examinees did not attempt this question".

Fix: practise full papers in the real time, so you know how long each question takes you. If you are short of time, finish the computation in outline rather than stopping halfway. For CA Final, how to write a CA Final mock test at home sets up that timed sitting the way the exam runs it.

Examiners' comments on missed tax amendments

Several Direct Tax comments are about changes candidates had missed. In May 2026, many applied indexation to gold jewellery "though such indexation benefit is not available on the transfer of a capital asset, being gold jewellery in the present case, on or after 23.7.2024". In January 2026, most "were not aware of the tax implications arising on buy-back of shares in view of the amended provisions applicable from 1.10.2024". Check what applies to your attempt in CA exam applicability: cut-off dates and amendments.

CA answer-writing checklist from the examiners' comments

MistakeCheck before you hand in
Different question answeredEvery requirement underlined and answered
General answerProvision, application to facts, conclusion
Fact in the question missedEvery figure and instruction used
PresentationPrescribed format, notes, numbered working notes
Bare conclusionReason given before each conclusion
UnfinishedTime checked against the plan for each question

Use it each time you check a practice paper, as explained in how to check your answers with ICAI suggested answers. Most of these mistakes cost step marks rather than whole questions; see step marking in CA exams and how to write answers in the CA exam.

Frequently asked questions

Where can I find ICAI examiner comments for CA Final May 2026?

At the end of the Final Group I and Final Group II suggested answers volumes (PDF), in the section "Examiners' comments on the performance of the examinees".

Where are the examiner comments for January 2026 and September 2025?

On ICAI's suggested answers pages, under each attempt. For January 2026, ICAI also published separate summary PDFs for Final Group I and Final Group II. For September 2025, the paper-wise and group-wise PDFs are on ICAI's Final September 2025 page.

Where can I find ICAI examiners' comments for every level?

For May 2026, at the end of each group-wise suggested answers volume, in the section "Examiners' comments on the performance of the examinees". For January 2026, also as separate "Summary of Examiner's Comment" PDFs. Both are on ICAI's suggested answers pages for Foundation, Intermediate and Final.

What mistakes do ICAI examiners report most often in CA exams?

Across the May 2026 and January 2026 comments, six come up again and again: answering a different question, general answers instead of applying the law to the facts, missing a fact printed in the question, weak presentation, conclusions without reasoning, and leaving questions half done. For CA Final, a whole-attempt plan built around avoiding them is in how to pass CA Final in first attempt.

Are working notes necessary in CA exam answers?

Yes. The papers instruct that working notes form part of the answer, and the May 2026 examiners flagged missing or incomplete working notes in Foundation Accounting and Final Financial Reporting (Foundation volume, May 2026, PDF).

Practise against the examiners' list

Reading the comments tells you what went wrong in other people's answer books; a checked paper tells you what goes wrong in yours. Our CA mock tests for Final are full-syllabus papers on the latest ICAI pattern. You write by hand, upload one PDF, and within 24 hours get ICAI-style step-wise marks with the reason for every mark cut and the correct line to write.

See every level on our CA test series home page. Writing CA Inter in January 2027? Our CA Inter test series for January 2027 checks your handwritten papers the same way. Writing CA Foundation? Our CA Foundation test series for January 2027 checks your papers too, and ICAI's own papers are on CA Foundation free resources.

Where to get the official papers

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