Importance Currently, new types of economic data processing appear among conventional accounting practices, i.e. creative accounting, social accounting, accounting of human resources, thus entailing new reporting formats: social accounting, as an example. In this respect, it becomes relevant to consider issues of social audit, investigate its substance and place within the framework of audit and consulting services. Objectives The main objective of the article is to investigate and examine the economic substance of social audit and determine its place within the framework of audit and consulting services. As part of the objective, we set and solve the following tasks: to develop the terminology through clarification and segregation of the concepts 'social audit' in a broad and narrow meaning, examine the evolution of social audit in Russia and abroad, carry out a comparative analysis of five models for regulating social responsibility reporting in Russia, figure out the specificity in Russia, determine the place of social audit within the framework of audit and consulting services, study the principle steps of social audit. Methods The methodological basis of the research comprises works of leading Russian and foreign scientists investigating issues of social accounting and reporting, audit of financial and business operations and social responsibility. Studying the social auditing methods, we rely upon federal laws on accounting and audit, regulations governing accounting procedures and financial reporting, standards used for social responsibility reporting purposes. Results We developed the terminology through segregation of the concepts 'social audit' in a broad and narrow sense, thus allowing determining the place of social audit within the framework of audit and consulting services. From a narrow perspective, social audit refers to verification of social reporting. From a broad perspective, social audit means a set of audit and consulting services, including audit of social responsibility reporting, audit of a part of financial statements covering aspects of social responsibility, agreed-upon procedures performed to identify whether social responsibility aspects, other services relating to social responsibility are correctly presented within financial and nonfinancial information, other than financial statements. Conclusions and Relevance Understanding the substance of social audit and its place within the framework of audit and consulting services, auditing firms and auditors will clearly identify a type of services rendered and stipulated in a contract, determine a regulatory framework of their delivery and requirements to them. It will contribute to improving the quality of social audit services. The proposed structure of social audit services will amplify scientific views of the social audit substance and substantiate recommendations for its improvement through development of auditing methods.
Keywords: social audit, social responsibility, verification, social reporting, concept, sustainable development
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