Under Regulation 39(4) of the Chartered Accountants Regulations, 1988, the ICAI Council has the authority to amend examination results on its own initiative if errors (like calculation mistakes or unmarked answers) are found. However, if such an amendment would negatively affect a candidate, the Institute must provide an opportunity for the candidate to be heard, and, provided the error was not caused by the candidate, they cannot initiate such adverse proceedings after one month from the date of the result declaration.