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The CA Final examination spans six papers across multiple days, with each paper demanding complete written answers under three-hour pressure. Paper 6 (IBS) adds a unique layer: it is four hours, open-book, and requires carrying ICAI-approved study materials into the exam centre. Managing exam day effectively across all six papers requires knowing the rules, carrying the right documents and materials, and executing a deliberate time management strategy within each paper.
This guide covers everything a CA Final candidate needs for every exam day, from what to pack the night before to how to navigate the IBS open-book session.
For the complete CA Final overview, visit the CA Final main page.
| Topic Link | |
| CA Final Overview | CA Final Exam Guide |
| Notification and Schedule | CA Final Notification |
| Application Process | CA Final Application Process |
| Exam Pattern | CA Final Exam Info |
| Result | CA Final Result |
| Syllabus Tracker | CA Final Syllabus Tracker |
All CA Final papers are held in the afternoon session. Group I and Group II papers alternate across the exam window.
| Day Paper Group Timing | |||
| Day 1 | Paper 1: Financial Reporting | Group I | 2:00 PM to 5:00 PM (3 hours) |
| Day 2 | Paper 4: Direct Tax Laws and International Taxation | Group II | 2:00 PM to 5:00 PM (3 hours) |
| Day 3 | Paper 2: Advanced Financial Management | Group I | 2:00 PM to 5:00 PM (3 hours) |
| Day 4 | Paper 5: Indirect Tax Laws | Group II | 2:00 PM to 5:00 PM (3 hours) |
| Day 5 | Paper 3: Advanced Auditing, Assurance and Professional Ethics | Group I | 2:00 PM to 5:00 PM (3 hours) |
| Day 6 | Paper 6: Integrated Business Solutions (IBS) | Group II | 2:00 PM to 6:00 PM (4 hours) |
Papers are not held on consecutive days; one or two days separate each exam day. For the May 2026 session, the schedule was 2, 4, 7, 9, 13, and 16 May 2026.
Candidates appearing in only Group I appear on Days 1, 3, and 5. Candidates appearing in only Group II appear on Days 2, 4, and 6. Both-group candidates appear on all six days.
Every candidate must carry the following on each exam day.
| Document Mandatory? Notes | ||
| Printed Admit Card | Yes | Printed on A4 paper; digital copies not accepted |
| Original Government-issued Photo ID | Yes | Aadhaar, PAN, Passport, Voter ID, or Driving Licence |
| Passport-size Photographs | Yes | 2 to 3 copies matching the admit card photograph |
| Blue or Black Ballpoint Pen | Yes | For all written answers in all six papers |
| Pencil | Recommended | For rough work and diagrams |
For Paper 6 (IBS) Only:
| Item Requirement | |
| ICAI-approved study material | As specified in the IBS permitted materials circular for the session |
| Bare Acts (specified) | Only the Acts listed in the ICAI circular are permitted |
| Separate carry bag for permitted IBS materials | Study materials must be carried in an open bag for security inspection |
The IBS permitted materials must be verified from the ICAI circular for each specific session. Do not assume that the same materials permitted in a previous session apply to the current one.
Paper 6 (IBS) has a distinct entry procedure at the exam centre because candidates are permitted to carry study materials. This procedure differs from all other exam days and candidates must be prepared for it.
Step 1: Arrive at the centre with all permitted study materials in an open bag (not a closed backpack). The centre staff visually inspect the materials before entry.
Step 2: Security staff verify that only ICAI-approved materials are being carried. Unapproved materials (personal notes, annotated books, self-prepared summaries, photocopies not on the approved list) are confiscated.
Step 3: Carry the materials to the examination hall. They are placed on the desk alongside the admit card and answer booklet.
Step 4: The invigilator confirms that only approved materials are present at the desk before the exam begins.
Step 5: Throughout the four-hour exam, candidates may freely refer to the permitted materials. There is no restriction on when during the exam they may be consulted.
Do not arrive at IBS day with un-organised study material. The four-hour clock starts the moment the case study is distributed. Fumbling through books looking for a provision wastes irreplaceable time.
Before IBS exam day, prepare your permitted materials:
| Action Purpose | |
| Use sticky tab markers for each Ind AS in the FR volume | Jump to a specific standard in under 30 seconds |
| Tab key GST sections in the CGST Act (Section 16 ITC; Section 54 Refund; Section 73/74 Demand) | Access ITC and refund provisions instantly |
| Tab key Income Tax Act sections (Section 115JB MAT; Section 92 Transfer Pricing; Section 96 GAAR) | Access Direct Tax provisions quickly |
| Tab CARO 2020 reporting requirements in the Auditing volume | Reference specific CARO clauses during auditing questions |
| Tab Companies Act key sections (Section 177 Audit Committee; Section 188 Related Party Transactions) | Reference during corporate law questions in IBS |
The preparation of permitted materials is itself a productive revision activity. The process of tabbing and indexing forces engagement with the key provisions across all subjects.
On all exam days including IBS day, the following are strictly prohibited:
| Prohibited Item Notes | |
| Mobile phones and smartwatches | Confiscated; may result in disqualification |
| Bluetooth devices and earphones | Prohibited on all exam days |
| Personal calculators | Not permitted; all calculations done manually |
| Personal notes or summaries | Prohibited on all exam days including IBS |
| Annotated or marked study material | Prohibited for IBS; only clean, unwritten-on ICAI books are permitted |
| Photocopied study material not on the approved list | Confiscated at IBS entry |
| Food and beverages | Check specific centre rules; water is typically permitted |
| Bags with closed compartments | On IBS day, materials must be in an open, inspectable bag |
At the CA Final level, the night before each exam is a continuation of preparation, not a wind-down. Each paper requires a specific revision focus.
| Paper Night-Before Revision Focus | |
| Paper 1: Financial Reporting | Consolidation elimination entries and NCI treatment; ECL model structure; Ind AS 103 acquisition accounting steps |
| Paper 2: Advanced Financial Management | Black-Scholes option pricing formula; forward rate calculation for currency hedge comparison; WACC and post-merger EPS formulas |
| Paper 3: Advanced Auditing | SA numbers for the top 10 most frequently cited standards; CARO 2020 clauses; NOCLAR decision framework |
| Paper 4: Direct Tax | MAT computation additions and deductions structure (Section 115JB); Transfer Pricing method comparison; DTAA tie-breaker rule |
| Paper 5: Indirect Tax | ITC blocked credits list (Section 17(5)); GST refund formula for exports with payment of tax; Customs valuation sequential method |
| Paper 6: IBS | Final check of tabbed study materials; review of one previous IBS case study to warm up the multi-subject thinking mode |
Revision the night before should not exceed two hours. Sleep, hydration, and a light meal before the exam are as important as any last-minute revision at this stage.
Reporting Time: 1:30 PM on each exam day Recommended Arrival: 1:00 PM to 1:15 PM
On IBS day, arrive at 12:45 PM to allow extra time for the open-book materials inspection at the gate.
| Step What Happens | |
| 1 | Security check at the main gate; admit card and photo ID verified |
| 2 | Attendance registered |
| 3 | Frisking by security staff |
| 4 | Guided to examination hall; assigned seat |
| 5 | Answer booklet distributed by invigilator |
| 6 | Exam begins at 2:00 PM on invigilator's signal |
Between Step 3 and Step 4, security staff inspect the study materials bag on IBS day. Only ICAI-approved materials are permitted to proceed to the desk. Unapproved materials are retained by the centre staff and returned after the exam.
At the CA Final level, all papers are fully subjective. Every mark comes from a written response. Time management must account for the full three-hour window across only written questions of varying marks.
| Phase Time Activity | ||
| Reading | 8 to 10 minutes | Read all questions; note internal choice options; plan sequence |
| High-marks questions (Consolidation, Financial Instruments) | 70 to 80 minutes | Attempt the 20 to 30 mark questions first with complete working notes |
| Mid-range Ind AS application questions | 60 to 70 minutes | Cover individual standard-based questions |
| Shorter questions (Integrated Reporting, Analysis) | 25 to 35 minutes | Complete remaining questions |
| Review | 10 to 12 minutes | Check for unattempted questions; verify Ind AS references |
Key discipline: Always cite the Ind AS number and relevant paragraph reference in Paper 1 answers. Answers that state "under Ind AS 103, paragraph 32, the acquirer shall..." score higher than answers that apply the same concept without the citation.
| Phase Time Activity | ||
| Reading | 5 to 8 minutes | Identify derivatives, forex, and valuation questions |
| Derivatives and Forex questions | 75 to 90 minutes | These carry the most marks; give full calculation time |
| Corporate Valuation and M&A questions | 50 to 60 minutes | Post-merger EPS; exchange ratio; EVA computation |
| Portfolio and Interest Rate questions | 25 to 35 minutes | Complete remaining numerical questions |
| Review | 10 minutes | Verify sign conventions; check that all working notes are labeled |
Key discipline: Every numerical answer must have clearly labeled working notes. For derivatives questions, show the option payoff diagram or the cash flow timeline before beginning calculations. For forex questions, explicitly state which exposure type is being hedged before presenting the hedging strategy.
| Phase Time Activity | ||
| Reading | 5 to 8 minutes | Identify SA-based scenario questions vs direct knowledge questions |
| Long audit scenario questions | 75 to 85 minutes | These carry the highest marks; use SA-citation-application-conclusion structure |
| CARO 2020 and Company Audit questions | 50 to 60 minutes | Reference specific CARO clauses |
| Ethics, Bank Audit, and Special Assignments | 35 to 45 minutes | Complete remaining questions |
| Review | 10 minutes | Verify SA numbers cited; check that all question parts are answered |
Key discipline for Paper 3: Every answer to an SA-based question must follow this structure:
Answers that omit the SA number or that state provisions generically without applying them to the scenario receive significantly lower marks.
| Phase Time Activity | ||
| Reading | 5 to 8 minutes | Identify the MAT computation question and the Transfer Pricing question |
| MAT computation and corporate tax questions | 55 to 65 minutes | These are typically the highest-marks questions; show every line of the book profit computation |
| Transfer Pricing and International Tax questions | 50 to 60 minutes | State the TP method, apply the arm's length principle, compute the adjustment |
| Capital Gains, Deductions, and Assessment questions | 40 to 50 minutes | Cover remaining domestic tax questions |
| Review | 10 minutes | Verify assessment year references; check that section numbers are cited |
Key discipline: Always state the assessment year and specify which Finance Act provisions are being applied at the beginning of each computation. ICAI examiners verify that the correct AY is used.
| Phase Time Activity | ||
| Reading | 5 to 8 minutes | Identify the ITC, refund, and Customs questions |
| ITC computation and reversal questions | 55 to 65 minutes | Typically the highest-marks questions in Paper 5 |
| GST refund computation questions | 40 to 50 minutes | Apply the correct formula for the refund type |
| Supply, Place of Supply, Assessment, and Demand questions | 35 to 45 minutes | Cover remaining GST questions |
| Customs valuation and FTP questions | 20 to 30 minutes | Apply sequential valuation methods; cite Rule numbers |
| Review | 10 minutes | Verify GST rate applied; check that notification references are correct where required |
Key discipline: State the applicable GST notification or circular number when answering questions that require referencing a specific rate or exemption. Generic answers without notification references score lower than cited answers.
The IBS exam requires a distinct strategy from all other papers. The four-hour window, the open-book format, and the integrated case-study nature demand deliberate time allocation from the moment the exam begins.
| Phase Time Activity | ||
| Case study reading and annotation | 25 to 35 minutes | Read the complete case study; annotate: mark each paragraph with the subject area it implicates (FR, Tax, Audit, etc.) |
| Question mapping | 5 to 8 minutes | Read all questions; map each to the relevant subject and relevant case fact |
| High-marks questions (first pass) | 100 to 120 minutes | Attempt all questions starting with the highest-marks ones; use the structured approach: identify the issue, cite the provision, apply to case facts, reach a conclusion |
| Study material reference | 30 to 40 minutes | During the first pass, use permitted materials for specific citations only; do not browse for concepts |
| Lower-marks questions and refinement | 30 to 40 minutes | Complete remaining question parts; refine earlier answers where time permits |
| Final review | 10 to 15 minutes | Ensure all question parts are answered; verify that case-specific facts are cited in each answer |
IBS-specific rules:
Do not exceed 35 minutes on the initial case study reading. Candidates who read the case study twice in full before attempting any question typically run out of time on the later questions.
Every IBS answer must explicitly reference facts from the case study. An answer to an auditing question in IBS that says "the auditor should report under SA 240" is incomplete. The answer should say "given that the case states that the CFO has overridden internal controls to approve the related party transaction without board approval, the auditor faces a fraud risk scenario under SA 240."
Use permitted materials for reference, not for understanding. If reaching for a textbook to understand a concept during the exam, that concept is not sufficiently prepared.
The one or two-day gap between each CA Final exam day provides time for targeted revision of the next paper.
| After Paper Revision Recommendation | |
| After Paper 1 (Financial Reporting) | Focused revision: MAT computation structure; Transfer Pricing methods for Paper 4 |
| After Paper 4 (Direct Tax) | Focused revision: Derivatives formulas (Black-Scholes); swap cash flows for Paper 2 |
| After Paper 2 (AFM) | Focused revision: ITC provisions (Section 16, 17(5)); GST refund formula for Paper 5 |
| After Paper 5 (Indirect Tax) | Focused revision: SA numbers and CARO 2020 clauses for Paper 3 |
| After Paper 3 (Auditing) | Study materials organisation and tabbing for IBS Paper 6; light conceptual review of IBS integration topics |
| After Paper 6 (IBS) | Exam complete |
Evening revision on exam days should not exceed one to two hours of focused study. Maintaining concentration and physical energy across a six-paper, multi-week schedule requires adequate rest.
| Problem Action | |
| Forgot admit card | Report to the invigilator; contact ICAI helpline at 011-3011-0444 immediately; some centres may allow entry with alternative verification |
| IBS permitted materials flagged at gate | Only ICAI-approved materials are allowed; if materials are confiscated, proceed without them; the exam can be attempted without study material |
| Felt unwell during the exam | Alert the invigilator; basic first aid is available; any time lost cannot be compensated but is documented by the centre |
| Writing mistake in answer booklet | Draw a single line through the incorrect portion; write the correction clearly above; do not use whitener in the main answer booklet |
| Confused about internal choice | Re-read the question paper instructions carefully; ICAI prints the choice instructions at the beginning of each question paper; do not attempt more questions than required |
| Power outage | ICAI centres have backup power; alert the invigilator if power does not restore within two minutes |
Provisional answer key for Papers 4 and 5 (if released): ICAI may release provisional answer keys or model answers for Papers 4 and 5 after the session. Monitor icai.org for the release.
Preserve the admit card: Required for result checking, marks verification application, and any future ICAI communication regarding that session.
Monitor ICAI for result date: CA Final results are declared approximately 45 to 60 days after the last exam day. For result download steps, scorecard details, and post-result action including ICAI membership application, visit the CA Final Result page.
Can I write calculations in the margins of the answer booklet? Rough work can be done in the answer booklet but should be crossed out clearly so it is not confused with the main answer. ICAI provides rough work sheets at some centres. Use these for rough calculations and write the final solution in the answer booklet.
Is a calculator allowed in any CA Final paper? No. Personal calculators are prohibited in all CA Final papers. All numerical calculations must be done manually. Practise mental and written arithmetic during preparation.
For IBS, can I write in the permitted study material during the exam? No. Annotating or writing in the permitted study material during the exam is not permitted. The books must be returned in the same condition they were brought in. Pre-marking with tab markers (sticky tabs placed before the exam) is generally permitted; writing in the margins during the exam is not.
Is there a break between the 3-hour papers and any other session? No. Each paper is a standalone session. There is no break within a single paper. The three-hour and four-hour sessions run continuously from start to finish.
What happens if I run out of space in the answer booklet? Ask the invigilator for a supplementary answer booklet. Supplementary booklets are available at all ICAI exam centres. Requesting one does not penalize the candidate.
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