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Dear Professional Colleagues, Sustainable development is the pathway to the future we want for all. It offers a framework to generate economic growth, achieve social justice, exercise environmental stewardship and strengthen governance. - Ban Ki Moon, Former UN Secretary General As we celebrate Indias G20 Presidency, the ascent of India as a global leader has been inspiring. As India hosts the G-20 Summit this month it is a very proud moment for all of us to showcase our potential not only
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FAQ :
The ICAI is at the forefront of this movement, having established the Sustainability Reporting Standards Board in 2020 to formulate standards aligned with the Indian economy and international practices. They are also working with regulators and institutions to develop a sustainability reporting framework in India.
SEBI has revised the BRSR format to include BRSR Core with Key Performance Indicators (KPIs) under 9 ESG attributes. From FY 2023-24, the updated BRSR format is mandatory for the top 1,000 listed entities. Additionally, the top 150 listed entities must undertake reasonable assurance of BRSR Core from FY 2023-24, with gradual adoption by all 1,000 companies by FY 2026-27.
The ICAI has set up the Sustainability Reporting Standards Board, developed a Certificate Course on BRSR, and established the Institute of Social Auditors of India (ISAI). They are also actively engaged with regulators and institutions to build a comprehensive sustainability reporting framework.
The ICAI is actively participating in international initiatives, including the ICAI Global Professional Accountants Convention (GloPAC) and has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of the Maldives to strengthen bilateral ties and advance accounting knowledge.
The 'RESOLVE-2023' convention, organised by the ICAI's Committee on Insolvency & Bankruptcy Code in Singapore, focused on 'Enabling Resolution Maximizing Value'. It facilitated the sharing of best practices and emerging developments in insolvency resolution globally.
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