Page 354 - CA Final Audit Titanium Full Book. (With Cover Pages)

CA Ravi Taori
- Fair Practices:
- Advocate for fair competition and prevent rights abuses.

Principle 8 – Promote Inclusive Growth and equitable development: Collaborate for better livelihood
and assist marginalized communities.
- Impact Assessment and Mitigation:
- Address social, cultural, economic impacts of business.
- Track and mitigate adverse impacts.
- Community Benefits and Intellectual Property:
- Create products that benefit marginalized communities.
- Avoid business-induced displacement; provide fair compensation.
- Respect intellectual property and share benefits equitably.
- CSR and Local Priorities:
- Align CSR activities with local/regional priorities.

Principle 9 – Provide value to consumers responsibly: Offer products and services responsibly for
profits.
- Impact Reduction and Fair Practices:
- Reduce negative impacts on consumers and environment.
- Ensure fair competition and freedom of choice.
- Disclose adverse impacts transparently.
- Data Privacy and Responsible Usage:
- Maintain customer data privacy.
- Inform customers about responsible product use.
- Transparency and Access:
- Avoid misleading advertising.
- Provide a transparent grievance redressal system.
- Ensure non-discriminatory access to essential goods/services.

(CNO SDG.180) Assurance in BRSR
SEBI's Initiative and BRSR's Role
- SEBI has initiated with the top 1,000 listed companies.
- Soon, all listed companies need to comply with BRSR.
- BRSR is for disclosing sustainability information in India.

Importance and Process of Assurance
- Assurance in BRSR reporting is critical.
- ESG audit evaluates environmental and social risks.
- ESG audit assesses supply-chain risks and transparency.

ICAI's SSAE Standards
- ICAI issued SSAE 3000 on Sustainability Information.
- The Standard deals with assurance engagements on sustainability.

Intended Users and Application of SSAE 3000
- Assurance providers, professional auditors, and regulators are the users.
- Standard is for assurance on sustainability information.
- Voluntary for reports ending on 31st March 2023.
- Mandatory for reports from 31st March 2024.

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