When Social Auditing Standards are mandatory?

The Social Audit Standards (SASs) will apply when an independent social audit of a Social Enterprise is to be performed,

The Institute of Chartered Accountants of India (ICAI) has published 16 Social Audit Standards.

 

When these standards are mandatory?

While conducting the social audit for "social enterprises" listed on the "social stock exchange," social auditors must comply with the requirements of SASs.

 

Five Elements of Social Audit

There are five elements of a social audit engagement.

1)    A three-party relationship involving a social auditor, a responsible party, and intended users;

2)    Project/ Program/ Intervention to be covered;

3)    Project Monitoring Framework;

4)    Evidence; and

5)    A written audit report