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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Integrated Reporting Framework, Global Reporting Initiative Framework and Business Responsibility and Sustainability Reporting

Kaveri Auto Components Ltd, a listed company within the BRSR Core assurance requirement, engages an independent firm to verify its BRSR Core indicators. The board asks what level of assurance is expected on the BRSR Core. Which is correct?

The BRSR Core requires reasonable assurance, a higher standard than limited assurance. An independent assurance provider must give positive-form conclusions on the selected key performance indicators, so self-certification by management or limited review alone would not satisfy the SEBI framework for applicable companies.

  1. ANo assurance, as self-certification by the CEO is enough
  2. BLimited assurance, as with other BRSR narrative disclosures
  3. CReasonable assurance on the BRSR Core indicatorsCorrect
  4. DAssurance only on financial indicators in the BRSR

Explanation

SEBI's framework requires reasonable assurance on BRSR Core indicators, which is a higher level than limited assurance. Limited assurance is the common trap, but it is not what the framework prescribes for BRSR Core. Self-certification does not meet the requirement.

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