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CFO Certificate under CSR Rules - Draft Format
According to provisions mentioned under The Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021, The Board of a company shall satisfy itself that the funds of CSR have been utilized for the purposes and in the manner as approved by it and the Chief Financial Officer or the person responsible for financial management shall certify to the effect.
This is an extremely important amendment. In addition to the monitoring by the board, it requires the CFO or alike to give utilisation certificate of the disbursements made. This makes the role of monitoring all the more crucial. This apart the, CFO will also be required to sign the annual CSR report.
Draft Format - suggested (for reference)
Date: ……….
The Board of Director,
………………………………
……………………………..
Sub: Certificate under Rule 4 of CSR Rules, 2014
Dear Sirs,
This is to certify that funds of Rs…Lakhs so disbursed for Corporate Social Responsibility (CSR) activity for financial year 2020-21 has been utilized for the purpose and in the manner as approved by the Board in their meeting held on………. as per the rules 4 of Companies (CSR) Rules, 2014 and Schedule VII of the Companies Act, 2013.
Details of CSR expenditure are as follows:
Particulars | Rs. In Lakhs |
Amount Outlay (Budgeted) |
|
Amount spent on the projects |
|
Amount unspent |
|
Excess amount spent |
|
Thanking You, Yours Faithfully,
for ……………………………
(Name)
Chief Financial Officer