Difference between social accounting and social audit?
What is a social audit?A social audit is the process through which all details of a public scheme are scrutinised by its beneficiaries. A social audit seeks to evaluate how well public resources are being used to meet the real needs of target beneficiaries. The Social Audit Guide is available for download. Further information can be obtained fromhttp://www.tisa.or.ke/website/what-is-a-social-audit.html
Some major problems of social audit include lack of standardized methodologies, subjective nature of audit criteria, limited stakeholder participation, and potential conflicts of interest. These factors can impact the credibility and effectiveness of social audit processes.
Social Audit is basically a process through which organizations are enabled to assess and demonstrate the social, economic and environmental limitations and benefit for itself. This process helps in measuring the extent to which organizations hold to their shared values and objectives. In other words, a social audit is a review of a business' social responsiveness.
Social audits are used to determine and improve the ethical and social performance of a company. Advantages include encouraging community participation and developing social capital. The main disadvantages of a social audit are costs and commitment.
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Social Audit.
In a social audit, the auditor examines what the business has done for the benfit of the environment and society.
a person who is competent enough to take up risk and challenges
A formal and thorough analysis of the firm's social performance.
Now, the college students are intensively participating in teaching the remote area students with good English. Thus social audit is a basic tool for these activities. Today a group of students, tomorrows it will be 100s,1000s,finally 100000s.
A systematic analysis of how a firm is using funds earned marked for social responsibility goals and how effective these expenditures are