Gupta said the ICAI had proposed some of the measures recommended in the MCA paper. It should be system based in the manner it is done by the CAG (for CPSEs) based on the number of partners, expertise, IT skills etc.,” said Gupta. He recommended that this proposal be restricted to large public interest entities. Gupta also said the ICAI had set up a sustainability accounting standards board, which would propose disclosure requirements from companies on efforts to meet the United Nations Sustainable Development Goals (SDG). The proposals will include requirement to disclose the proportion of CSR expenditure by a company conducted towards achieving the SDGs.

Source: Economic Times February 16, 2020 21:45 UTC