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Under the SEBI framework for the Social Stock Exchange, Navjyoti Society is an NPO that has raised funds through the exchange. It wishes to have its annual impact report supported by assurance. Who is permitted to carry out the social impact assessment for an NPO that is required to have one under the framework?

The assessment must be done by a qualified social impact assessment firm or professional who meets the SEBI framework's prescribed credentials, such as membership of specified institutes or relevant training. It cannot be done by the NPO's own insiders, and the Registrar of Societies has no such role.

  1. AOnly the statutory auditor of the NPO
  2. BOnly the Registrar of Societies
  3. CA social impact assessment firm or professional who is a member of the specified institutes or has the prescribed credentials under the SEBI frameworkCorrect
  4. DAny director of the NPO, provided they are not a trustee

Explanation

The framework requires social impact assessment to be done by qualified assessors, either firms or individuals meeting the prescribed criteria, such as membership of specified professional bodies or relevant training. It is not restricted to the statutory auditor, and the NPO's own insiders lack the independence needed. The Registrar of Societies has no such role.

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