Functioning under the guidance of ministry of Corporate Affairs, the Institute of Chartered Accountants of India (ICAI) recently organised a seminar on 'Social Audit'. A whole range of new ideas in this emerging field were discussed by the Chartered Accountant fraternity. Social Audit is an overall value based exercise, which can be conducted right from the grass root level to the level of the Board. A presentation on Genesis and Evolution of Social Audit and a brief on Process and Methodology of Social Audit was also presented during the seminar.
A session on Corporate Social Responsibility (CSR) and Social Audit was taken by experts in this area. Laying emphasis on triple bottom line reporting, the experts described the idea that corporates should prepare social accounts and use excerpts in the corporate social accountability report.