Social Auditing is a process which, enables organisations and agencies to assess and demonstrate their social, community and environmental benefits and limitations. It is a way to measure the extent to which an organisation lives up to the shared values and objectives it has committed itself to promote.
Social Audit is a framework which allows an organization to build on existing documentation and reporting and develop a process whereby it can account for its social performance, report on that performance and draw up an action plan to improve, through which it can understand its impact on the community and be accountable to its key stakeholders.
Simply put, Social Accounting systems analyse the Social, Economic and Environmental impact of an organization and report upon it. This report is then presented to and verified by a representative Social Audit Panel, which then certifies the social accounts.
Most importantly the framework allows an organisation to work through, step by step, the three ingredients which are key to any social accounting system:
- The Organisational Objectives and behaviour.
- Organisational interactions with the Society.
- The result of Organisations Behaviour on the Society.
Social Audit is suitable for all Organisation. It requires a sense of responsibility towards society and no business can run without giving back to the society, so Social audit is your assessment how well you are doing it and how can it be improved for a improved acceptance of your business by the society at large for the long term growth of your business and society at large.