ICAI - Post your comments on Sustainability Reporting
October, 27th 2010
Post your response on Sustainability Reporting in Indian context
The last decade and a half has seen India rapidly progressing towards a developed economy characterizing massive cross-border flow of capital and the establishment of large-scale businesses both in the manufacturing and the service sectors. This rapid progress towards globalization had brought along with many challenges including challenges of environmental, social and technological changes. The present day environment requires companies to be both transparent and accountable with a special emphasis on achieving long-term sustainability. Therefore adoption of a suitable framework for sustainability reporting in India is inevitable consistent with international best practices and domestic imperatives.
Keeping this in view, the ICAI-ARF, a Section 25 Company promoted by the ICAI, a body set-up by an Act of Parliament, namely, the Chartered Accountants Act, 1949 has constituted a Committee comprising of experts representing various stakeholders under the chairmanship of Shri Suresh Prabhu, Former Union Minister, Government of India.
In order to understand, analyze and comprehend the present day understanding of sustainability issues by the corporate in India, and its future perspective in Indian context, it has been felt necessary to have inputs from the industry. Accordingly, a questionnaire has been designed to facilitate expression of your views and perspective on the subject.
We request you to kindly devote some of your valuable time on the attached questionnaire and post your views, which would help the Committee a great deal in arriving at a consensus on best practices considered appropriate on sustainability reporting and assurance issues in India. Your views and suggestions would go a long way in structuring an appropriate framework of sustainability reporting in India.