ICAI to set up Sustainability Accounting Standards Board

New Delhi: Chartered accountants' apex body ICAI will set up a Sustainability Accounting Standards Board to help companies in achieving sustainable development goals.

ICAI President Atul Kumar Gupta on Thursday said the board would be launched on Friday and discussions would be held with stakeholders to take the process forward.

With the proposed standards, there would be disclosure requirements for companies in terms of "sustainability part" or sustainable development goals of the United Nations (UN).

"We will be developing reporting requirements for companies to comply with," Gupta said.