Fursch Ltd., a pipes manufacturing company is based in Pune. The Company has been regularly contributing to CSR activities over and above the statutory requirements. During one of the meetings, Shyla, the Managing Direct

A Corporate Social Responsibility Audit is important because it can increase a company's responsibilities to the community. This assessment holds businesses accountable and ensures they only engage in practices that benefit all stakeholders who aren't necessarily shareholders, like employees, customers and business partners. A corporate social responsibility audit examines the following elements of a company: Transparency with financial and accounting practices: A corporate social audit can determine how transparent a company is with its financial and accounting practices. It ensures that all staff members report information accurately and that the company files its taxes according to state and federal regulations. It also ensures that the company shares as much financial information as possible with the public in the form of financial reports. Transparency with product defects or other issues: A corporate social audit reports if a company has been transparent with any issues in its products and other offerings. For example, imagine a consumer goods company unknowingly sold a laundry detergent that contained harmful phosphates. If the company recalled the product, issued a public apology, and distributed proper compensation after realizing the error, it may still receive a satisfactory audit rating because of its transparency. Fair hiring practices and employee treatment: A corporate social audit can also determine if a company participates in fair hiring practices. This can include hiring employees without discriminating against them because of their gender, race, sexuality, religion or any other basis. It can also include making reasonable accommodations for potential employees with disabilities and giving them a fair chance to secure available positions. Participation in charitable giving: A corporate social audit assesses how much a company participates in charitable giving. The audit may evaluate what percentage of its profits it donates to worthy causes. It may also check to see if the company offers incentives for its employees to volunteer, like offering a paid day off of work to volunteer at a local food bank or another organization.