Social Audit Network aims to promote and support social accounting as the preferred means whereby organisations operating in the community, social economy and public sectors report on their social, environmental and economic performance and impact.
Social Accounting is a process through which an organisation measures its social and environmental performance against its aims and objectives in order to assess the true impact of its activities upon stakeholders.
The process involves collecting, analysing, interpreting and describing quantitative and qualitative information in order to produce an account of its performance. The organisation itself owns the processes both of data collection and analysis and indicators are set in consultation with stakeholders.
The results can be used to improve future performance as resources can be more effectively targeted at achieving organisational objectives.
Social accounting is independently verified. Social audit is therefore the process of reviewing and verifying the social accounts at the end of each social audit cycle.
West Midlands Social Accounting Cluster
All Saints Action Network, an advocate for social accounting, has been working in partnership with the national Social Audit Network to support a growing number of social enterprises in the region to produce social accounts as part of a West Midlands Social Accounting Cluster.
Social enterprises including Jericho Community Business, Moseley Community Development Trust, Black Country Reinvestment Society, and Black Country Housing Group have all produced independently verified social accounts.