ICSI issued Exposure Draft of ICSI Social Audit Standards

The Institute of Company Secretaries of India(ICSI) has issued Exposure Draft of ICSI Social Audit Standards.

In accordance with Chapter X-A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the Securities and Exchange Board of India has established Regulations 292A to 292P that address various aspects of the Social Stock Exchange. In accordance with Chapter IX-A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations of 2015, the obligations of social enterprises have been established under Regulations 91A to 91F.

The primary goal of promoting the idea of social stock exchanges is to entice social investors to participate in funding social enterprises. Additionally, to strengthen these companies’ governance frameworks, boost investors’ confidence, and increase stakeholders’ visibility and knowledge The idea of an audit of the Annual Impact Report by a Social Auditor has been established by SEBI through regulation 91E of the SEBI (LODR) Regulations, 2015.

This social audit‘s goal is to evaluate the social impact that the social enterprise’s initiatives, interventions, programmes, and projects had throughout the reporting period. Professionals registered with an SRO and working in compliance with the standards established for the purpose shall perform the same.

To meet this need, the ICSI established the ICSI Institute of Social Auditors, which developed the draught ICSI Social Audit Standards. These standards serve as guidelines for conducting social audits of social enterprises engaged in any of the activities listed in Regulation 292E(2)(a) of the SEBI (ICDR), Regulations, 2018. The ICSI Social Audit Standards Exposure Draft has been made available for public feedback.

For Exposure Draft Download PDF Given Below:

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