“Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2022” dated July 25, 2022, has been issued in The Gazette of India regarding formation of Social Stock Exchange https://www.sebi.gov.in/legal/regulations/jul-2022/securities-and-exchange-board-of-india-issue-of-capital-and-disclosure-requirements-third-amendment-regulations-2022_61171.html. The notification defines Social Stock Exchange as “A separate segment of a recognized stock exchange having nationwide trading terminals permitted to register Not for Profit Organizations and/ or list the securities issued by Not-for-Profit Organizations in accordance with provisions of these regulations.”

As per the above notification, The Institute of Chartered Accountants of India (ICAI) has been entrusted with the responsibility of being Self- Regulatory Organization for regulating the profession of Social auditors. In this regard, Sustainability Reporting Standards Board of ICAI has developed following-

• (i) Draft Preface to the Social Audit Standards
• (ii) Draft Framework for the Social Audit Standards
• (iii) Draft Social Audit Standards (SAS) on all the sixteen thematic areas specified in the above mentioned notification.

The downloadable version of the Exposure Draft is available at: https://resource.cdn.icai.org/71191srsb57193.pdf

Comments can be submitted using one of the following methods, so as to be received not later than September 28, 2022: