Ambuja Foundation Awarded With ‘Excellence in Financial Reporting’ by ICAI

News and Events

January 30, 2023

Ambuja Foundation Awarded With ‘Excellence in Financial Reporting’ by ICAI

Ambuja Foundation was awarded by the prestigious Institute of Chartered Accountants of India (ICAI) for its excellence in financial reporting for FY 2021-22 in the Non-Profit Sector. ICAI council members appreciated Ambuja Foundation's professionalism in financial reporting and it's work in community development over the last 30 years.

Ambuja Foundation is registered under Section 8 of the Companies Act, 2013. It also has registrations in ITA (12A/80G, IT returns), FCRA, and compliance related documents on Workplace & HR (POSH, PF, PT etc.).The compliance team ensures that all registration documents are up to date.

Ambuja Foundation carries out financial internal audits across locations on a yearly basis and also conducts project audits depending on partner requirement. Ambuja Foundation also conducts statutory half yearly audits by involving external auditors who visit locations and scrutinize processes in detail.Donor due diligence processes are considered mandatory for any new partners coming on board and internal reviews for all existing projects are also carried out.

Ambuja Foundation's Board Members are the fiduciaries of the organization, steering Ambuja Foundation towards a sustainable future by adopting sound, ethical and legal governance and financial management policies. The Board meets every quarter to discuss various observations of the operations, process and are closely involved in reviewing Ambuja Foundation's financial statements. Their advice and feedback help to strengthen the statutory systems and operations of the organisation.

Ambuja Foundation, being the CSR arm of Ambuja Cements Ltd, also updates the Company's CSR Committee. The Foundation's CEO is a member of the Committee who updates the members on program activities and achievements at Ambuja Foundation, and also discusses budgetary allocations and expenditures. Ambuja Foundation also schedules an Annual General Meeting every year inviting members to hear Ambuja Foundation's progress and be present for the release of the Annual Report.

Tags: Enabling People

January 30, 2023

The Torchbearers: Renu Thakur

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Never in her wildest dreams did housewife Renu Thakur imagine where cows would take her in life! From Nauni village in Darlaghat all the way to the offices of the Ministry of Finance, Agriculture and Animal Husbandry in the Himachal Pradesh State Government, Renu has been on a wild ride. Renu was one of the 30 founding members of the women only Amrit Dhara Dairy Milk Cooperative, which has grown from strength to strength - swelling to 300 members today.
The Torchbearer: The Electronics Role Model

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Something radical is happening in Inaj village in Veraval, Gir Somnath District. 15 young girls have become the primary breadwinners of their families, having trained in Electronics at SEDI - securing lucrative jobs as Assembly Operators and transforming ingrained perceptions about what women can do.
The Torchbearer: Building an Organic Brand

September 22, 2021

Ravikiran Saini is a fourth generation farmer from Bhagwanpur, Uttarakhand. On the surface he may look like a simple farmer, but this man is passionate about organic farming – so passionate and experienced in fact that he moonlights as a regular guest lecturer at IIT Roorkee.
The Interdependent Relationship between People & Ponds

October 27, 2021

There is an urgent need for people in rural communities to change the way in which they view, and subsequently treat, community ponds. From being seen as a community dumping ground, to being viewed and valued as an abundant community resource, we must reignite the interdependent relationship between people and ponds.
Ambuja Foundation gets certified 'Great Place to Work'

October 27, 2021

Ambuja Foundation is now certified as a ‘Great Place to Work’ in India under the Non-Profit and Charity Organization. The core values in Ambuja Foundation’s DNA stood out during the process – being recognized for the strength and dedication of its team, the down to earth and loyal culture, its values & culture, humane yet professional attitude and ethos towards its own team and an unwavering commitment to enabling prosperity in rural India.