Audit is not directly related to the reporting process and can be done even if a company does not issue CSR reports.The purpose is to audit the sustainable development policy and its relevance to and compliance with the business`s strategic objectives and expectations of stakeholders, rather than the company`s report, if any.
An audit consists of two main phases:
Assessment of the company`s CSR activity and its effectiveness (peer review of ongoing programmes and document base)
A survey among stakeholders on the perception of their company`s activity
Based on the audit findings, a document is prepared containing a comprehensive analysis of the company`s current CSR and sustainability efforts. It highlights stakeholders` opinions, reflects the company`s strengths and weaknesses, and provides recommendations on CSR improvement and some general KPIs.