ICAI Received the UNCTAD ISAR Honors 2023 Award

The Institute of Chartered Accountants of India (ICAI) has been awarded the ISAR Honours 2023 by the UNCTAD working group on International Standards for Accounting and Reporting (ISAR) for its Sustainability Reporting Standards Board (SRSB) initiative. 

UNCTAD ISAR Honors 2023 Award 

• This year, ICAI's SRSB initiative received the highest score among 70 initiatives from around the world in the ISAR HONORS session. 
• Additionally, ICAI has been granted the UNCTAD ISAR Chair for the 40th session, marking the second consecutive session. 
• During the World Investment Forum held from 16-20 October 2023 in Abu Dhabi, CA. (Dr.) Sanjeev Kumar Singhal, Central Council Member from ICAI, served as the chair of the UNCTAD ISAR session. 
• The UNCTAD ISAR Honours recognize initiatives which enable and assist enterprises to publish data on their contribution for attaining the implementation of the 2030 Agenda for Sustainable Development.

About Institute of Chartered Accountants of India (ICAI) 

• The Chartered Accountants Act, 1949 established the Institute of Chartered Accountants of India (ICAI) as a regulatory body to develop and regulate the profession of Chartered Accountants in India.
• The ICAI operates under the control of the Ministry of Corporate Affairs, Government of India. As the largest professional organization of Chartered Accountants globally, the ICAI is renowned for its service to the Indian economy in the public interest.

About UNCTAD

Full form of UNCTAD is the United Nations Conference on Trade and Development.

• UNCTAD is a permanent intergovernmental organization that was established by the United Nations General Assembly in 1964. I
• Its headquarters are located in Geneva, Switzerland. 
• UNCTAD is accountable to the UN General Assembly and the Economic and Social Council, but it has its own membership, leadership, and budget. Additionally, UNCTAD is a part of the United Nations Development Group. 
• Rebeca Grynspan, from Costa Rica, is the first woman and Central American to serve as UNCTAD’s Secretary-General.
• Its purpose is promotion of trade and development, particularly in developing countries.