Institute of Social Auditors of India (SRO set up by ICAI) invites Interest for initial empanelment of Social Auditors, in prescribed format, from experienced and reputed Social Auditors/Entities for conducting Non-financial audit of Social Enterprises.

The initial empanelment is valid for six months or till the time Certificate programme is conducted by National Institute of Securities Market (NISM) and the individual or entity holds a valid certificate, whichever is later.

“Social Audit” is an independent, objective and reliable examination of impact of a project/program/ project-based activity of a Social Enterprise governed by Self-Regulatory Organization (SRO) or any other regulatory authority so as to - • assess whether the project/program/project-based activity is operating in accordance with the stated Strategic Intent and Planning • assess the stated performance in terms of impacts/ outcomes • suggest ways to improve the impact measurement and/ or performance.

“Social Enterprise” means either a Not-for-Profit Organization or a For Profit Social Enterprise that meets the eligibility criteria specified; (as per Gazette Notification of SEBI dated 25th July, 2022).

"Social Audit Firm” means any entity which has employed Social Auditors and has a track record of minimum three years for conducting social impact assessment; (as per Gazette Notification SEBI dated 25th July, 2022).

”Social Auditor” means an individual registered with a self-regulatory organization under the Institute of Chartered Accountants of India or such other agency, as may be specified by the Board, who has qualified a certification program conducted by National Institute of Securities Market and holds a valid certificate; (as per Gazette Notification of SEBI dated 25th July, 2022).

Eligibility Criteria:

• 1. Any Individual or Entity of firm having a track record of minimum three years of conducting social impact assessment of a social enterprise indulged in any of the areas notified by SEBI under Regulation 292E of (SEBI Issue of Capital and Disclosure Requirements) Regulations 2022 (as per Gazette Notification of SEBI dated 25th July, 2022).
• 2. Average annual grants or expenditure of social enterprise for which impact assessment has been carried out for the last three financial years should be at least Rs.50 lakhs.
• 3. Suitable human resources in the field of social development having experience of usage of relevant methodology of social audit.

Disqualification:

• Any individual or any of the partner/Director of an entity convicted for an offence involving moral turpitude by any court of competent jurisdiction.
• The individual or any of the partner/Director of an entity has been declared as undischarged insolvent/bankrupt by the court of competent jurisdiction or any other authority empowered by law.
• Any individual or any of the partner/Director of an entity has been debarred by SEBI.

Please note that this is the initial empanelment of Social Auditor carried out by the Institute of Social Auditors. Regular empanelment will be as per the Gazette Notification of SEBI dated 25th July, 2022 and the norms for the same will be notified separately.

Interested applicant may send their application in Structured format through email at isai@icai.in within 7 days from date of release of this advertisement.