ENTREPRENEURSHIP

Detailed explanation-1: -What is a social audit? A social audit is a way of measuring, understanding, reporting and ultimately improving an organization’s social and ethical performance. A social audit helps to narrow gaps between vision/goal and reality, between efficiency and effectiveness.

Detailed explanation-2: -Definition. Social auditing is a process for evaluating, reporting on, and improving an organization’s performance and behavior, and for measuring its effects on society. The social auditing can be used to produce a measure of the social responsibility of an organization.

Detailed explanation-3: -The audits focus on areas such as human rights, labor regulations, health and safety sector issues, responsible production practices, fair and living wages, stakeholder relations, community engagement and other aspects, depending on specific needs.

Detailed explanation-4: -Summary. A social audit is a formal evaluation of a company’s procedures and endeavors with regards to corporate social responsibility and societal impact. It assesses how well a company is meeting its CSR objectives and provides an opportunity to identify areas for improvement.