Sustainable approach is needed towards Economic, Social and Equal Justice to Auditing
Sustainability auditing and reporting are used to evaluate the sustainable performance of organization, company and policy. They are inherently prime practice to be enact in the evaluation process for transparent and unbiased result oriented framework. It examines the process,measure and report social and ethical performance of entity.
It encompass by various parameter like charitable work,volunteering activities,energy usage,transparency,work environment, worker pay and benefits to evaluate the kind of social and environmental impacted by firm.It provides human rights, labour practices, enhancement of stakeholder relationships, protecting business ethics. Sustainability reporting differs financial reporting as practices mentioned. It regulates and frame long term policy to work upon. Various Sustainable reporting guidelines are GRI, Global Reporting Initiative, Triple bottom line accounting etc.
The best practices in 21st century following the good governance principle, though it can’t be achieved without proper feedback. Therefore the Social audit aims to achieve the 21st century goals and targets with adapting the strategy of sustainable auditing. Leads to attain Advantages in many diverse interlinked areas and sector of business.
The Process of Social Auditing:
Secure Management Support —> Prioritize the Organization objectives —> Identify stakeholders —> Gather Data —> Define Scope of Audit —> Verify the results —> Analyse and Interpret Result —>Disclosure the Report