The Securities and Exchange Commission of Pakistan (SECP) issued Corporate Social Responsibility (CSR) Voluntary Guidelines 2013 (the Guidelines) in order to promote responsible business conduct that supports community growth for public interest, eliminates adverse practices impacting the public sphere and ensures corporate accountability. The Guidelines are voluntary in nature and Companies are encouraged to move beyond the recommended minimum provisions.
The Guidelines encourage Companies to obtain external assurance of CSR Report. In this respect, SECP has also issued a concept paper on CSR which explains that external assurance providers may include accounting firms, certified bodies and sustainability /social sector specialists.
The enclosed report is prepared in accordance with ISAE 3000 and it also contains the contents suggested by SECP in the concept paper on CSR.
The report mentions certain procedures and limitations which may be used by the practitioner while forming the conclusion. However the procedures/ limitations may vary based on the professional judgment of the practitioner.
The Council of the Institute has approved the enclosed assurance report in its 261st meeting held on January 24, 2015.
Effective from periods beginning on or after January 1, 2015 though early application is encouraged.
Circular 2 of 2015 – CSR Report