ICAI ARF Committee to suggest a suitable framework for Sustainability Reporting in India.
June, 23rd 2008
Request to respond to the questionnaire on the subject.
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 sector. This rapid progress towards gloabalisation has brought along with many challenges including challenges of environmental, social and technological changes. The resent day environment requires companies to be both transparent and accountable with a special emphasis on achieving long-term sustainability. In this regard, a framework for sustainability reporting and its adoption by the corporates has been under discussion for quite some time. Presently, reporting on sustainability related issues is either as required under different statutes, or on a voluntary basis, and often not comprehensive and in the manner addressing the concerns of various stakeholders. In the new economic era adoption of a proper framework of sustainability reporting is in inevitable consistent eith international best practices and domestic imperatives.
2. Keeping this in view, the ICAI-ARF, a Section 25 Company promoted by the ICAI, a body set-up under the Chartered Accountants Act, 1949 has constituted a committee comprising of experts representing various stakeholders under the Chairmanship of Shri Suresh P. Prabhu.
3. In order to understand, analyse and comprehend the present day understanding of sustainability issues by the corporates in India, and its future perspective in Indian context, it has been felt necessary to have input from the industry. Accordingly, a questionnaire has been designed to facilitate expression of your views and perspective on the subject.
4. May we request you to devote 5 minutes of your valuable time on the attached document. Kindly filled in electronically and send the same at email@example.com. This would help the Committee a great deal in arriving at a consensus on best practices considered appropriate on sustainability reporting and assurance issues. The information provided would be kept confidential. We are sure that your views and suggestions would go a long way in structuring an appropriate framework of sustainability reporting in India.