"A Corporate Social Responsibility (CSR) Audit aims at identifying environmental, social or governance risks faced by the organization and evaluating managerial performance in respect of those". Explain the purpose of CS

Corporate Social Responsibility ("CSR") is a broad term. However, for the purpose of addressing the scope of a CSR Audit, CSR is about managing and taking into consideration organization's operational, processes and behavioural impact on society and stakeholders from a broad perspective. Contrary to common belief, CSR is more than basic legal compliance and is highly connected with and affects organization's bottom line. The followings are the purpose of CSR Audit: To ensure compliance with the provisions of Companies Act, 2013 with respect to constitution of the Committee, adoption of policy and appropriate spending towards CSR activities. To facilitate transparent monitoring mechanism and Act as a mentor for the Company's CSR activities and implementation of CSR policy. To evaluate internal control and governance framework. To assess the project life cycle. To conduct financial review of projects to confirm the utilization of budgets for achieving desired outcomes.