CS Professional · December 2025 · Paper 4.1
CS Professional CSR and Social Governance December 2025: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICSI; read them on ICSI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 1(i) | 5 | Whether employees and their families can be CSR beneficiaries given the bar on activities benefiting company-associated persons | CSR Policy |
| 1(ii) | 5 | Points to consider when selecting a CSR implementing agency | CSR Projects and Implementation Agency |
| 1(iii) | 5 | General recognition and measurement criteria for CSR expenditure | Guidelines on CSR |
| 1(iv) | 5 | CSR as a driver of brand building and value creation, with an illustration | Impact of CSR |
| 2(a) | 5 | Inter-linkage between CSR and the Sustainable Development Goals | CSR and Sustainable Development Goals |
| 2(b) | 5 | Whether CSR impact assessment is mandatory based on CSR spend thresholds | Social Impact Assessment and CSR Audit |
| 2(c) | 5 | Principles of CSR impact assessment and the key questions it answers | Impact of CSR |
| 3(a) | 5 | Using the National CSR Exchange portal to find implementing agencies and execute CSR | CSR Projects and Implementation Agency |
| 3(b) | 5 | Enlightened shareholder approach contrasted with the inclusive stakeholder approach | Corporate Social Responsibility |
| 3(c) | 5 | Difference between donations and CSR with reference to RBI guidance on donations by banks | Corporate Social Responsibility |
| 3A(i) | 5 | Eligibility of GST input tax credit on CSR expenditure, with reference to case law | Guidelines on CSR |
| 3A(ii) | 5 | Life cycle assessment framework as a cradle-to-grave sustainability approach | CSR and Sustainable Development Goals |
| 3A(iii) | 5 | Elements examined in a CSR audit | Social Impact Assessment and CSR Audit |
| 4(a)(i) | 5 | Approach to implementing social governance within a company | Social Governance |
| 4(a)(ii) | 5 | Fund-raising routes for social enterprises on the Social Stock Exchange under SEBI ICDR | Social Stock Exchange |
| 4(a)(iii) | 5 | Issues a social auditor must address for Social Stock Exchange entities | Social Stock Exchange |
| 4(b) | 5 | Validity of a private trust created by an informal note under the Indian Trusts Act | Societies and Trusts |
| 5(a) | 5 | Retiring partner right to goodwill when the firm continues, and rights in sale of goodwill | Partnership Firms |
| 5(b) | 5 | Key points for maintaining attendance registers at gram panchayat meetings | Model Code for Meetings of Non-Corporate Entities |
| 5(c) | 5 | Precautions before an NGO accepts foreign contribution under FCRA | Foreign Funding to Non-Corporate Entities |
| 6(a) | 5 | Applicability of accounting standards to non-corporate entities such as partnership firms | Financial and Non-financial Reporting of Different Non-Corporate Entities |
| 6(b) | 5 | Notice requirements for meetings of non-corporate entities | Model Code for Meetings of Non-Corporate Entities |
| 6(c) | 5 | Arbitrability of a partnership dispute and partner rights to accounts under the Partnership Act | Partnership Firms |
| 6A(i) | 5 | Regulatory framework for registering a religious or charitable trust and its taxation | Societies and Trusts |
| 6A(ii) | 5 | Actions demonstrating a company commitment to employment equality | Social Governance |
| 6A(iii) | 5 | Reporting obligations of a registered society under the Societies Registration Act | Societies and Trusts |
What stood out
- Part I is entirely CSR: two long cases (Q1 for 20 marks and Q2 for 15 marks) on beneficiaries, implementing agencies, SDG linkage and impact assessment thresholds.
- Impact assessment features repeatedly: whether it is mandatory, its principles, CSR audit elements and CSR impact on brand value.
- Part II spreads across non-corporate entities: trusts, societies, partnership firms, FCRA funding, gram panchayat meetings and accounting standards each get at least one question.
- The Social Stock Exchange is tested through a 15-mark case in Q4(a) covering social governance, ICDR fund-raising routes and the social auditor role.
- Most Part II questions are short problem situations applying a single statute, so open-book candidates benefit from quick statute navigation rather than lengthy theory.
Practise the chapters that carried the marks
Societies and Trusts, CSR Projects and Implementation Agency, Guidelines on CSR: study guides and practice questions in the CS Professional format.