Social Impact Assessment Organisation

A Social Impact Assessor is an individual. A Social Impact Assessment Organisation (SIAO) is the firm or entity through which assessors do regulated work on the Social Stock Exchange.

The distinction matters because of Regulation 91E of the SEBI LODR Regulations. The Annual Impact Report for a listed project must be assessed by a Social Impact Assessment Organisation employing Social Impact Assessor(s) — not by a freelance individual acting alone.

An SIAO must also run the organisational machinery an individual cannot: a system of quality control, documented policies, competent teams and supervision of any field research agency it uses.

Definition (Chapter 2, 2.2.3). A Social Impact Assessment Organisation means any entity which has:

• (i) employed Social Impact Assessors and has a track record of minimum 3 years in conducting social impact assessment; or
• (ii) employed at least two full-time Social Impact Assessors, each with minimum experience of three years in conducting social impact assessment, who shall sign the social impact assessment report.

It must employ assessors who have qualified the NISM certification and are registered with an SRO or other SEBI-specified agency.

What it assesses (Chapter 9, Regulation 91E):

Quality control (Chapter 5, 5.10). An SIAO's policies and procedures should address:

1. leadership responsibilities for quality within the firm
2. ethical requirements
3. acceptance and continuance of relationships and engagements, including scope
4. human resources, including engagement of experts
5. engagement performance, including the assessment trail
6. monitoring

Documentation (5.11.1). The final engagement file should be assembled on a timely basis, usually not more than 60 days after the date of the report. After that, nothing may be deleted or discarded before its retention period ends.

In practice. Chapter 8's sample report is signed off by an SIAO. It lists the organisation's responsibilities — setting the audit programme's extent, managing risks, selecting competent teams, monitoring and improving the programme — and quotes the assessor's SRO registration number.

Illustrative firms and dates.

Three firms want to assess the Annual Impact Report of an NPO's listed ZCZP project.

Vikas has the most experienced individual, and still fails. Limb (ii) counts full-time assessors and needs two.

NewLeaf's timeline. It signs its assessment report on 15 November 2026. Its engagement file — work papers, sampling records, FGD notes — should be assembled usually within 60 days, by about 14 January 2027. After assembly, nothing in the file may be deleted before its retention period ends.

What the NPO does with it. The NPO files its Annual Impact Report with the SSE with NewLeaf's assessment report attached, by 31 October or the income-tax return due date, whichever is later. For a report signed on 15 November, the NPO's return due date must fall after that.

Chapter 2 (2.2.3) gives the two-limb definition. Chapter 5 covers SIAO quality control (5.10) and documentation, including the 60-day engagement file (5.11.1). Chapter 9 (9.2.4) makes the SIAO the assessor of AIRs for listed projects, and Chapter 8's sample report is written in the SIAO's voice. Expect a definition question built on the "3 years" and "two full-time assessors" limbs, and a question separating SIAO-assessed from self-certified reports.

• The two limbs are alternatives ("or"). A firm needs either a 3-year track record or two full-time SIAs with 3 years each.
• Under limb (ii), those two assessors sign the report.
• Listed project → SIAO-assessed. Non-listed or registered-only → self-certified.
• SIAO vs SIA. The organisation is an entity; the assessor is an individual registered with an SRO.
• The engagement file is usually assembled within 60 days of the report date. Do not confuse this with the 60-day deadline for NPOs' non-financial disclosures under LODR 91C.
• The workbook spells it "Organization" and "Organisation" interchangeably. Same thing.