Write short notes on the following: Corporate Social Responsibility Audit

Corporate Social Responsibility (CSR) is more than basic legal compliance and is highly connected with and affects organization's bottom line. In order to ascertain the effectiveness of organizations CSR policy, practices and culture, the CSR audit is becoming key. A CSR audit aims at identifying environmental, social or governance risks faced by the organization and evaluating managerial performance in respect of those. CSR audit aims to give an independent opinion by external auditor, on the extent of alignment of CSR objectives with the business goals and level of managerial commitment and performance with regard to attainment of social responsibility objectives defined by the company's Board. A CSR audit program can cover all or any of the following risks: - Effectiveness of the operating framework for CSR implementation Effectiveness of implementation of specific, large CSR projects Adequacy of internal control and review mechanisms Reliability of measures of performance Management of risks associated with external factors like regulatory compliance, management of potential adverse NGO attention, etc.