Updates to Report Assurance
A core part of developing our collective practice, and improving the standard and quality of social value accounting and SROI across the globe are the Assurance and Accreditation services offered. Assurance or accreditation can give you the confidence in your practice, build trust with your different audiences, and provide a supported pathway to improve.
At Social Value International we are constantly looking for ways to improve the services we provide, to better meet the needs of the wide variety of organisations, sectors and industries that are accounting for social value. Here is a list of the most recent updates to our Report Assurance services:
- Social Value and SROI reports can be submitted for assurance – this update has been in place for most of 2018. It is now possible to submit a social value report OR an SROI report for report assurance. The Report Assurance Standard criteria allow for a different application of Principle 3: Value the things that matter so that different valuation techniques can be applied if an SROI is not being undertaken.
- Report Review Service – Social Value UK have been running the Report Review Service during 2018 to offer any type of social value, or social impact report the opportunity to be assessed in alignment with the Social Value Principles. This service does not provide a full assurance statement but is there to assist in process and practice development, and will provide feedback on strengths and weaknesses as well as areas for improvement.
- NEW SERVICE: Pre-report Assurance Outcomes Check Service: The service will provide the opportunity for someone undertaking report assurance to pre-check a number of points in alignment with the assurance standard at an earlier stage in the report development and data collection. This service has been developed in response to the desire to check the defining of outcomes earlier in the research analysis. A key part of the process is applying Principle 1: Involve Stakeholders, and Principle 2: Understand What Changes and so a check that covers this allows for an opportunity for learning as a part of the assurance process.
- NEW POSSIBLE RESULT FOR REPORT ASSURANCE: Limitation of the application of Principle 4: Only Include What is Material. The Social Value Principles require that all material outcomes to be considered for all stakeholders that experience them. However, for a number of analyses the stakeholders to be included are pre-defined at the time of starting the research (i.e. limited to the intended beneficiary group). Social Value International have worked with the Reporting and Assurance Technical Committee to define a statement that outlines the risk that is associated with this type of analysis, whilst also recognising the application of all other principles to a standard that meets the criteria of report assurance.
We, at Social Value International, want to see more organisations and projects using social value data to make decisions about our activities, and how we use our resources. We can only move in that direction if we have the confidence and trust in the data we are using for these decisions. Report assurance can provide a pathway for development of your practice, and an external verification to provide confidence and trust in your method and practice.
If you would like to find out more please contact our Assurance Manager, Catherine Manning.