Social Audit Services

Audit for Good: Uncover, Evaluate, and Improve Social Practices

Social audit services are a method to evaluate the ability and efficiency of organisations to meet various laws and regulations of the concerned jurisdictions and various international and national social standards. Enterslice has a pool of certified auditors with social audit services, whose main objective is to measure and report on concerned organisations' social and ethical performance. This social audit shall maintain transparency and be accountable to its stakeholders and investors. Our professional experts shall check the business operation compliance requirements with the various compliance and regulations and various other state and international standards. The primary goal behind social audit services is to ensure meeting the compliance requirements, reducing the potential risk that will result in reputational damage if it is found that the organisation is providing a service that is illegal or unsafe working conditions.

Discover how our social audit services can transform and scale up the company's initiative towards social upliftment. We are not just a company; we are partners in maximising returns of the company's social investment.

What is the meaning of social audit?

A social audit is a formal method to identify and assess the company’s responsibility, procedures, and various other codes of conduct connected to social responsibility and its impact on the social environment. This social audit service is an examination of how well the company is meeting the desired goals and benchmarks for social responsibilities and ethical standards. However, organisations shall always maintain a balance between a company’s profitability and social responsibility.

What are the objectives of Social Audit?

A social audit is a method to evaluate the policies, practices, and performance of organisations connected to labour practices, community involvement, and environmental impact. The objectives of social audit can be classified into three categories such as principal objectives, secondary objectives, and general objectives.

Principle Objective

The principal objective is concerned with fair pay and salaries of the employers and labourers, paying timely and fair dividends to the concerned stockholders. However, it is not limited to that; an organisation shall also be able to provide the best and most reasonable possible prices to its clients and customers.

Secondary objectives

The secondary objectives of internal audit are concerned with the element that the company must provide various provisions of incentives and bonuses to the employees and various other programs and events for promoting and encouraging the needs and requirements of the local communities. A research and development department shall also be promoted by a company on the various techniques that are used by the organisations.

General objectives

The last objective of the social audit is to end the irregular activities of the company’s operations so that the economic and social gaps are reduced and diminished. This also means examining the working conditions of the employees and assessing the impact of the company's business operations on the environment and the local community of the specific jurisdictions where the business is located. To evaluate the company initiative and steps taken to develop and improve the conditions of the local communities.

Social Audit Procedure

Some of the most common social audit procedures are

Initiating

This is the first stage, where the social auditor shall identify the main objective and thus examine what they want to audit and accordingly set up an individual responsibility of the company for the complete social audit services and also secure funding.

Planning

In this stage, the auditor, along with the management of the company, shall determine the strategy, identify the company stakeholders, and understand the various laws and regulations connected to social responsibility under state or international standards.

Implementation

This is the stage where the auditor has to execute the social audit program by collecting the sources, evaluating the information received, and thus spreading the results and information within the company. The auditor then considers factors such as sustainable environment and institutionalisation.

Closing

This is the last stage, where the auditor or a company has to follow up on the social audit program, ensuring that the social audit is successful.

Enterslice Social Audit Services

Enterslice not only provides services, but we craft solutions for our client, meeting their end-to-end requirements in this fast-paced economy environment. We partner and tie up with various corporations, foundations, and social organisations, helping them increase the number of returns through a social investment with our impact-led approach, experience, and expertise. Given below is a list of social audit services offered by us but not limited to

• We help the company by giving strategic advice and supporting the organisation's end-to-end corporate social responsibility management, such as CSR policy design, compliance, regulations related to social solutions, etc.
• To maintain transparency, accountability, and efficiency, our monitoring and evaluation social audit services use a result-based management system while tracing the respective organisations' CSR programs.
• Our assessment under the social audit services is based on qualitative, quantitative, and semi-quantitative tools that assist the company in designing its CSR programs and rectifying existing social programs.
• Our expert professionals in social audit services conduct impact examinations to understand the impact of corporate social responsibility on the business operation of the company and its various other stakeholders. Our social audit services help the company to measure and calculate the social return on each amount spent.
• Our solutions are also accompanied by various updated technologies, helping organisations get real-time insights on the development of their CSR programs. Our software experts shall also help the company get a customised dashboard to trace or track social audit performance.

Benefits of Social Audit Services

Given below are the social audit services benefits

• It helps the company detect and determine the issues and risks in the business operations, thus improving the organisation's business operations along with various suggestions and recommendations for improvement.
• Social audit services help the company achieve a strategic advantage by assisting in decision-making and ensuring that the company's social responsibilities are aligned with its goals.
• A successful and effective social audit service helps the company build a reputation in the market and maximise trust among the consumers and stakeholders of the respective company.

Compliance under social audit services

We have a team of professional experts with over a decade of experience in the field of social audit. We are uniquely positioned to fulfil the organisation's requirements connected to the social compliance market space, including

• Improvement and development of an organisation's social compliance program.
• Boosting of the company’s risk-based program elements and frameworks.
• Improvement or expansion of organisations' social audit equivalency efforts.
• We also execute the social audit of companies.

Thus, with the help of professional experts, we additionally provide social audit services that focus on serving organisations with quality information, helping the company make informed decisions, and various other corrective action plans connected to a sustainable environment and society upliftment.

What are the Items evaluated under the social audit services?

Social audit services mean determining the various social responsibilities initiated by the organisations, such as social, public, and environmental responsibilities, including the treatment of the employees by the respective organisations. Some of the common items under the company operations that are examined under the social audit services are

• Impact on environment and society derived from the company's business operations.
• Check the transparency level of the company in reporting issues that are connected to the public and environmental effects.
• Transparency of accounting and finance.
• Organisations contributions towards social community development and financial contributions.
• List of charitable donations by a company.
• Employees volunteer contributions for the upliftment of the company.
• Organisations' working culture includes safety and security measures, a harassment-free environment, and various other equal opportunities.
• Benefits criteria for the workers and employees of the organisations.
• A diversity approach and various other non-discriminatory practices within the company's business operations.

Social Audit Services Evaluation method

Social audit services are commonly evaluated by a third party like Enterslice by examining and reviewing various programs and awareness conducted by the company for social upliftment.

• An auditor shall collect data on various lists of community programs, social benefits, social capital, and the kinds of standards used by the departments on programs connected to social awareness and development.
• Evaluate the audit reports on the community, such as the number of contributions that are initiated for empowering the civil society, environment, etc.

Preparing the final Report?

After conducting the social audit of a respective company, an auditor shall prepare a final report on such social audit, recommending and suggesting various changes for effective social initiatives by the companies. Some of the common steps taken by interslice professionals of social audit services while preparing a final report are

• A final audit report should include items on a core objective that a company or a department focuses more on the conclusions of the same.
• Determine the needs of the reader and thus accordingly make an audit report that is relevant for such readers.
• We select the relevant findings, ensuring that the important findings are not left out so that they do not unnecessarily affect people's activities after reading the social audit report.
• Our team of social audit services ensures that discussions are done with every staff member involved in the program so that an efficient report is submitted to the company for the better working of the social programs.

What are the social audit limitations?

Along with multiple benefits of the company through social audit services, there are many challenges faced by the company during social auditing

• Social issues are subjective, and it is indeed difficult to get concrete and universally acceptable social solutions for improving society, the environment, etc.
• There is a huge gap in social standardisation; no specific standard has been formed yet to be followed by the organisations.
• Social audit requires a heavy amount of investment, as it requires deep research and analysis with the help of external social audit service providers.
• Social audit requires an ample amount of time, and it is indeed time-consuming as it requires a meticulous deep analysis by collecting data and reporting the same.
• Many organisations are reluctant to use social audit services since they have a fear that such social responsibility may appear as fake publicity if the program results are unsatisfactory.

Why choose Enterslice

Enterslice is a consultancy company engaged in providing end-to-end services for various companies in India and overseas. We are comprised of various professional experts in multiple numbers of fields, such as audit and assurance, legal advisory, compliance and regulations, risk and assurance, etc. Our social audit services offer a tailored evaluation that helps customers meet their objectives and challenges, such as industry codes of conduct. However, our experienced professionals in social audit services provide fast results within a stipulated time.

We help companies from scratch by customising personal services according to their needs and assessments. We have comprehensive industry-based knowledge from the last decade in demonstrating organisations with their crucial social aspects. As a leading service provider, our professionals encompass consistency and credibility with the highest quality of social audit services. Thus, we help a company or an organisation build trust between the stakeholders and customers, meet the industry and customers, and fulfil the customers' vast requirements through multiple scheme approvals.