10 Points Why A Corporation Should Consider A CSR Audit

Why does an Organization conduct a CSR Audit in India?

What is the need? What are the Benefits? Is there a extra cost?

These are some questions that comes to the mind while opting for CSR Audit for the CSR initiatives that the organization is taking up or an entire audit of the organization as a whole assessing the social, environmental and economical impact. Understanding the business dynamics and consumer perceptions, it is believed to present the organization as a trust worthy entity is a profitable idea which can only happen if there is positive impact on society at large.

Therefore, if one has to highlight ten points on why a corporation should consider a CSR Audit, Fiinovation would suggest the following points:

  1. Reduce the loopholes between planning and implementation of the programme

  2. Gather data of the ongoing initiatives and improve the strategy of implementation

  3. Assessing the long term impact based on audit findings

  4. Collect information of impact of the organization on society

  5. Utilizing the data to communicate positive impact to the stakeholders

  6. Use CSR Audit as a process of engagement with the stakeholders

  7. Increase effectivity of operations by reducing emissions, loopholes, corruption etc.

  8. Ensure proper and sustainable utilisation of resources available

  9. Training and capacity building of employees to become more sustainable in their approach

  10. Reduce overall operation costs in the long term along with increase in organizational value in the market

These points clearly highlights the importance of conducting a CSR audit of the overall performance of the organization. Not only this gives information to analyse but also helps to understand the areas which needs a fix to achieve the desired organizational goals. Therefore, Fiinovation recommends Indian corporations to not to ignore CSR audit thinking it as an additional cost, rather understanding that it offers long term benefits.

By Rahul Choudhury

Media & Communications, Fiinovation

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