The more the organizations disclose more information about their financial and non-financial performance, the more trust they will gain from their stakeholders.
This fact led to an increase in the organizations’ interest on issuing and publishing a non-financial reports to disclose their performance on the field of sustainability, social responsibility or community service.
Since this type of reports is not mandatory by government agencies, there have been more demands that the information of these reports to be reviewed by a third party to ensure the correctness of the information contained therein.
Therefore, the social audit service has become necessary to gain the confidence of the society.
What is the Social Audit:
It is an organized and systematic process of collecting and evaluating evidence of the results of activities and social events, determining the extent of compatibility and congruence between these results, objectives and previously established standards, and informing the concerned parties of the results of the review.
What is the goal of Social Audit:
What are the vision 2030 goals that Social Audit contributes to achieving?
Maximizing the social impact of social programs and initiatives.
Increase the contribution of the non-profit sector to the GDP.
Increase the percentage of charitable projects with social impact.
Empowering social responsibility.
What are the areas of Social Audit?
The social audit covers all areas included in the non- financial reports, such as: environmental, social, economical, governance ... etc.
Examples of the non-financial reports: Social Responsibility Report - Sustainability Report - Social Investment Report - Good Citizenship Report - Community Service Report - Beneficiaries Report - Social KPI’s Report.
What are the steps of Social Audit?
Is to ensure the correct measurement of the outputs that were recorded, analyzed and classified.
It is the ability to judge the validity of information as a correct expression of business results during a certain period.
What are the outputs of Social Audit?
- Checking the correctness, accuracy and authenticity of the data proven in the reports and the extent of reliance on them.
- Express an impartial technical opinion based on strong evidence about the extent of the stated results conform to reality.
- Discover errors or incorrect information that may be found in the reports.
- Provide recommendations regarding program indicators and their suitability for measuring impact.
- Issuing an official certificate confirming the validity of the reports.
What are the benefits of Social Audit to organizations?
- Assisting the Board of Directors to ensure the performance of social programs.
- Supporting the administration in determining and drawing up administrative policies and taking decisions.
- Ensure that social impact is achieved and define the number of beneficiaries of social programs.
- Publication of information validity certificate in the media and organization reports.
- Gaining the confidence of stakeholders such as clients, employees, donors and enabling them to make appropriate decisions for their relationship with the organization.
- Knowing the strengths and development opportunities of social programs.
- Support the organization’s efforts to fulfill the requests of government agencies.es’ requests.
Organizations benefiting from Social Audit:
Enterprises that have social responsibility programs