In May 2021, the Securities Exchange Board of India (SEBI) introduced the Business Responsibility and Sustainability Reporting (BRSR) format. This format mandates the top 1,000 listed entities (based on market capitalization) to include BRSR within their Annual Report, starting from the fiscal year 2022-23.

BRSR encompasses disclosures that require these listed entities to report their performance in alignment with the nine principles outlined in the 'National Guidelines on Responsible Business Conduct' (NGBRCs).

Recognizing the increasing significance of ESG (Environmental, Social, and Governance) disclosures for investors and other stakeholders, there arose a necessity for entities to secure assurance regarding these disclosures.