Social Audit Archives

Unlocking Opportunities: NISM XXIII – Social Auditors Certification Webinar

Discover the potential of becoming a Social Auditor with the newly launched NISM XXIII: Social Auditors Certification Examination. In her 2019 Budget Speech, Finance Minister Nirmala Seetharaman announced the launch of the Social Stock Exchange in India.

Building on that, SEBI issued ICDR, LODR & AIF regulations through gazette notifications in July 2022. NSE and BSE have already introduced dedicated social stock exchange segments on their platforms.

Under the aegis of The Institute of Chartered Accountants (ICAI), the Institute of Social Auditors of India (ISAI) has been established (https://isai.ca.in/ ) as a Self-Regulatory Organization (SRO).

ISAI will play a crucial role in enrolling, regulating, and developing Social Auditors.

To explore the opportunities and significance of this certification in shaping the future of Social Auditing, please register yourself for the Webinar.

Date and Time : Sat, Jul 22, 2:30 PM – 4:00 PM GMT+5:30

Mode : Online event

Click here to Register

Social Audit Standards – Sustainability Reporting

The Institute of Chartered Accountants of India (ICAI) has issued the Social Audit Standards (SAS) for the members. These Social Audit Standards will be applicable from the date of their hosting on ICAI website. (SAS 100 should be read in conjunction with the “Preface to the Social Audit Standards” and “Framework for the Social Audit Standards”, issued by the ICAI

This Social Audit Standard relates to the thematic area of “eradicating hunger, poverty, malnutrition and inequality’’. The Standard aims to provide the Social Auditor with the necessary guidance in relation to independent impact assessment engagement of Social Enterprises engaged in eradicating hunger, poverty, malnutrition and inequality and the audit steps and procedures that should be applied while conducting the social impact assessment. The Standard sets out the minimum requirements to be followed while conducting impact assessment. Laws or regulations may establish additional requirements which should be followed, as applicable.

The Social Auditor should conduct a desk review of existing documents to gain further insight into the evaluation procedure and impact assessment.

The social auditor should review the evaluation questions addressed through Questionnaires, In – depth Interviews and Focused Group Discussions to assess the responses received from various stakeholders and to understand what has changed.

The Social Auditor should review the project/program documents to frame the evaluation criteria for assessing impact. Such key metrics may be collated from base-line, mid-line (monthly / quarterly) and end-line assessment (if available), respectively at the beginning, middle and end of the reporting period/project/program to effectively understand and evaluate impact.

The Social Auditor should identify the inherent limitations of the evaluation process which might have an influence on the impact assessment.

Click here to read the Standard

Source – https://resource.cdn.icai.org/72658srsb58573.pdf;

Source: https://www.taxscan.in/icai-issues-social-audit-standards/245984/