International Reporting Standards in Indian Business

Abstract

The term "sustainable development" refers to growth that serves the needs of the present without risking the future. A number of novel approaches to sustainability accounting and reporting have arisen in recent years. Their work demonstrates the power of financial frameworks in addressing social and environmental problems. Non-financial performance is currently being displayed in a variety of ways. In reality, there isn't a single reporting standard. Therefore, companies now have more freedom. More and more companies are compiling reports on their operations' impact on the environment, society and economy. The Securities and Exchange Board of India (SEBI) mandates an annual Business Responsibility Report (BRR) for the country's top 100 publicly traded corporations. Based on the NVG, SEBI's BRR disclosure technique is (National Voluntary Guidelines).The Global Reporting Standards have been applied to some of these companies, while the National Voluntary Guidelines have been applied to others. Accordingly, the purpose of this study is to evaluate how Indian firms compile BRRs in order to establish whether or not these reports are in conformity with global reporting requirements, as well as to satisfy stakeholder information needs. Based on the 2014-2015 financial year BRRs of Indian enterprises, this paper is presented here. When it comes to materiality and comparability, most Indian corporations follow the worldwide criteria for sustainability reporting, however these reports fall short.