- 5 Marks
Question
Corporate Social Responsibility (CSR) is the hallmark of every well managed entity. In some cases, cost of CSR may not involve actual expenditure.
Required:
Explain THREE (3) appropriate procedures for audit engagements for CSR reports. (5 marks)
Answer
Audit procedures for CSR
- To determine the impact of CSR project on development indicator identified in the project report like on education/ health/ social/ economic conditions of the people in communities.
- To assess the changes in the quality of life among communities through CSR project interventions.
- To get objective description of social impacts than what people might perceive.
- To identify requirement of changes in the existing policies and projects to take care of the changing needs of the people.
- To enhance stakeholder engagement and the capacity of institutional setup.
- To improve and reliability of data management and reporting.
- Topic: Assurance services, Current issues
- Series: JULY 2023
- Uploader: Kwame Aikins