The Institute of Chartered Accountants of India (ICAI) has been awarded ISAR Honours 2023 for its initiative on sustainability reporting standards board, the premier accounting body said on Thursday.
The award was given by the UNCTAD (United Nations Conference on Trade and Development) working group on International Standards for Accounting and Reporting (ISAR).
"We are honoured with this recognition, such accolades will further inspire us to work hard to promote and adopt the best sustainable practices in the country.
"Embracing sustainability practices in business is the need of the hour and ICAI has been at the forefront of leading this movement by setting up the Sustainability Reporting Standards Board in 2020, to formulate standards that are in sync with the Indian economy while being benchmarked to international practices and to enhance the quality of sustainability reporting framework in India," Aniket Sunil Talati, President, ICAI, said.
The ICAI functions under the administrative supervision of the Ministry of Corporate Affairs.