The weekly messenger | Edition 23.22
This newsletter is a weekly compilation of accounting, auditing and related regulatory news from different accounting and regulatory bodies in India and overseas.
Regulatory news
ICAI International Sustainability Reporting Awards 2021-22 for excellence in sustainable initiatives and Innovations – 21 July 2022
In order to promote global best practices vis-a-vis sustainability disclosures, the Sustainability Reporting Standards Board (SRSB) of the ICAI are inviting the organisations to participate in the ‘ICAI International Sustainability Reporting Awards 2021-22’.
For more information, click here.
Availability of XBRL utility for submission of Business Responsibility and Sustainability Reporting – 15 July 2022
The Securities and Exchange Board of India (SEBI) vide its Circular dated 10 May 2021 had issued the format of the Business Responsibility and Sustainability Reporting (BRSR) along with the Guidance Note.
Consequently, the Bombay Stock Exchange (BSE) vide its notice dated 12 July 2022, had notified that in order to make the disclosures more accurate and efficient, the Companies will be required to submit the BRSR in Pdf mode as well in XBRL mode, which would be made available shortly.
Now, the BSE has clarified that that the XBRL utility for submission of BRSR has now been made available in XBRL section of the Listing Centre and listed entities are advised to file the same using this utility. Further, the companies that have already filed BRSR in pdf are also required to file the same in XBRL mode.
For more information, click here.
FAQs on Audit, Nomination & Remuneration and Stakeholders Relationship Committee – 15 July 2022
The BSE vide its Circular dated 15 July 2022 has issued the Frequently Asked Questions (FAQs) on composition of Audit, Nomination & Remuneration and Stakeholders Relationship Committee, wherein it has been clarified that while submitting Corporate Governance XBRL utility at exchange, in case member(s) forming the part of the committee is not a Board Member(s), it will be deemed that the composition of the aforesaid committee is not in compliance with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and accordingly necessary actions as per SOP Circular dated 22 January 2020 shall be initiated from the date of admission of non-Board Member(s) into the committee.
For more information, click here.