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CS Professional · CSR and Social Governance · Social Impact Assessment and CSR Audit

Veda Textiles Ltd, an Indian company, has spent its CSR amount over three years on several projects. The Board wants an independent review that checks whether the money was spent on approved projects, in line with the CSR policy, and whether the documents support the spending. Which description best fits this review?

The review described is a CSR audit. It examines whether CSR spending and activities followed the CSR policy and the Board-approved plans and whether records support them. Measuring changes in beneficiaries' lives is impact assessment, which is a different exercise from a compliance and utilisation check.

  1. AA CSR audit examining whether CSR activities and spending conformed to the CSR policy and approved plansCorrect
  2. BA social impact assessment measuring the long-term change in beneficiaries' lives
  3. CA statutory audit of the company's profit and loss account only
  4. DA secretarial audit of share transfer records

Explanation

A CSR audit is a check of compliance and utilisation: whether projects, spending and records match the CSR policy and the plan approved by the Board. Impact assessment, by contrast, measures outcomes and change among beneficiaries, so it does not describe a review of conformity and documentation.

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