THE SOCIAL AUDIT OF COOPERATIVES
THE SOCIAL AUDIT
Social Audit is the process whereby a cooperative can account for its social performance, report on and improve that performance. It assesses the social impact and ethical performance of the cooperative in relation to its vision, mission, goals, and Code of Social Responsibility.
It is also process to assess the cooperative’s contribution for the upliftment of the status not only to its members’ economic needs but also social needs and the community where it operates. The cooperative’s actual performance and accomplishment are compared its vision, goals, and social responsibility as it relates to the impact not only to the community but to its regular members as the immediate beneficiary of the decisions and actions it promulgated, passed and implemented. Social Audit will serve as control mechanism to account for its social performance and evaluate its impact in the community taking into account the community development fund which shall be used for projects or activities that will benefit the community where the cooperative operates.
Social Audit validates the support of the cooperative to the 7th cooperative principles, i.e. the “Concern for Community” and determines whether the cooperative work for the community’s sustainable development through policies approved by their members.
The audit focuses not only to the economic side of the cooperative but also the social aspect of the organization and appraises the cooperative performance as value-based organization usually participative, user and community oriented and non-profit but service organization and how its social responsibility for its members and the community as a whole was fulfilled.
THE SOCIAL AUDIT TOOL
The social audit tool is an instrument to identify, measure, assess and to report on their social performance. This will provide the user a framework on how to collect data and what data is to be collected.
Similar to financial and management audit, the Social Audit has a one year cycle. The audit steps are also comparable to activities carried out for financial audit.
Consideration of the various aspects of Social Audit is relevant. Verification of records and documents is crucial to get vital information.
The tool will also present the score of the cooperative’s social performance, whether outstanding, very good, good, fair or poor. The score/rating should not be taken as the end of it. Any result thereof, shall be the major consideration for improved social performance, which is actually the first and foremost goal of Social Audit.
THE COMPONENTS OF THE SOCIAL AUDIT TOOL
Social Audit for cooperative shall look into the following components with their corresponding point:
This is a measurement of cooperative’s fulfillment of its vision, mission and goals, feedback mechanisms, code of good governance and ethical standards.
Measurement on how the cooperative responded to the need of members, observed governance practices, considered provision for benefits of members, and involved members in the affairs of the cooperative.
Assessment of the cooperative’s fulfillment of the needs and welfare of the employees in terms of safety workplace and sanitation, including the provision for compensation and benefits.
IV. Cooperation among Cooperatives
Measurement of the cooperative’s affiliation/s and linkages to federations/unions and other cooperatives.
V. Community and Nation
Determines the involvement of the cooperative and its contributions to the community and nation, in general.
VI. Network Alliance and Linkages
Assessment on how the cooperative relates to other organization and its collaborative program.
SOCIAL AUDIT OF COOPERATIVES
AS OF DECEMBER 31, 2015
- Name of Cooperative as of the latest amendment: COOPERATIVE INSURANCE SYSTEM OF THE PHILIPPINES
- Present Address of Cooperative: #80 Malakas St. Brgy. Pinyahan, Central District,Diliman QC
- Type of Cooperative: Cooperative Insurance
- Re-registration Number: 9520-16000011
- Vision / Mission & Goals
I. ORGANIZATION (15 points)
II. MEMBERSHIP (35 points)
III. STAFF/ EMPLOYEES (10 points)
V. COOPERATION AMONG COOPERATIVES (10 points)
VI. COMMUNITY AND NATION (25 points)
VII. NETWORK, ALLIANCES AND LINKAGES (5 points)
For MEDIUM & LARGE COOPERATIVES for MICRO & SMALL COOPERATIVES
90- 100 points:
|Outstanding||75- above points:||Outstanding|
|80- below 90 points :||Very Satisfactory||65–below 75 points :||Very Satisfactory|
|70 –below 80 points :||Satisfactory||50–below 65 points :||Satisfactory|
|60–below 70 points :||Fair||35–below 50 points :||Fair|
|Below 60 points :||Poor||Below 35 points :||Poor|
SUMMARY OF POINTS