ICSI Secretarial Standard on Report of the Board of Directors SS-4
ICSI Secretarial Standard on Report of the Board of Directors SS-4. The Standard prescribes principles for making disclosures in the Report
The Companies Act, 2013, requires the report of Board of Directors of every company to be attached to the financial statements to be laid before the members at the annual general meeting.
The Board’s Report provides the stakeholders with both financial and non-financial information, including the performance and prospects of the company, relevant changes in the management and capital structure, recommendations as to the distribution of profits, future and on-going programmes of expansion, modernisation and diversification, capitalisation of reserves, further issue of capital and other relevant information.
A listed company is required to comply with certain additional requirements as per SEBI Regulations. Companies regulated under other laws, may also be required to make additional disclosures under the respective laws.
This Standard (SS-4) prescribes a set of principles for making disclosures in the Report of the Board of Directors of a company and matters related thereto. In case, a particular disclosure which is required to be made as per this Standard is not applicable to a particular company, the company need not disclose the same in the Board’s Report except where the Standard requires specific disclosure in this respect.
This Standard shall come into effect from 1st October, 2018
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