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Report No. 27 of 2010-11 – Performance Audit of Steel Authority of India Limited and Rashtriya Ispat Nigam Limited on Corporate Social Responsibility
Overview
Iron and Steel industry is the most polluting and resource intensive industry. As it consumes huge amount of natural resources like coal, iron ore, etc., as raw material, it has to be responsible towards environment protection and peripheral development. SAIL and RINL being profit making companies have adequate resources to discharge these responsibilities.
Performance audit of these companies was conducted with a view to assess whether they were discharging their corporate social responsibility (CSR) in an effective and efficient manner towards environmental protection, safety of its employees and social development.
SAIL has a CSR policy, however it was not comprehensive as it did not cover objectives, scope, strategy and areas of focus of CSR activities like that of RINL. While the companies were providing two per cent of their distributable profit for CSR activities but the same was not transferred to a 'separate fund' due to which the unspent funds lapsed at the end of the year. In fact RINL was able to utilise only 45 percent of the budget provided by it during 2006-07 to 2009-10, while SAIL, by and large, utilized the budget.
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- Preface
- Executive Summary of PA Report No. Executive Summary of Report No. 27 of 2010-11
- Chapter 1 – Introduction of PA Report No. 27 of 2010-11
- Chapter 2 – Audit Approach of PA REport No. 27 of 2010-11
- Chapter 3 – CSR Policy Framework of PA Report No. 27 of 2010-11
- Chapter 4 - Environmental Responsibility of PA Report No. 27 of 2010-11
- Chapter 5 - Safety Issues of PA Report No. 27 of 2011-12
- Chapter 6 - Social Development of PA Report No. 27 of 2010-11
- Chapter 7 - Conclusion and Recommendation of PA Report No. 27 of 2010-11
- Annexures of PA Report No. 27 of 2010-11