The Institute of Chartered Accountants of India ( ICAI ) is to form Self-Regulatory Organisation for Social Auditors.
The Council of ICAI recently approved the formation of Self-Regulatory Organisation (SRO) for the social auditors as envisaged in the SEBI notification dated 25th July, 2022. The SRO is proposed to be named as “Institute of Social Auditors of India” and will be set up as a Section 8 company under the Companies Act, 2013, under the aegis of ICAI.
ICAI has decided to form the company with the vision to be a leading institution for the development of an independent, ethical, and world-class Social Auditors’ profession responding to needs and expectations of the stakeholders.
The proposed SRO will focus on capacity building of social auditors through continuous professional advancement with a focus on adherence to the highest ethical standards and compliance with the letter and spirit of social stock exchange requirements.
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