International

Social Audit Network and the SROI Network (soon to be Social Value UK) strengthen links through reciprocal membership

Colleagues from the Social Audit Network (SAN) and the SROI Network (soon to be Social Value UK) recently met to discuss joint interests and potential areas for closer working. Now formally members of each other’s organisations, one area of discussion was the increasing need for independent assurance of social accounts and SROI reports. If social value reporting is to be credible in the medium and long term, there needs to be independent verification or audit for meaningful inclusion in tender evaluation.

Jeremy Nicholls, CEO of the SROI Network and SIAA, soon to be Social Value International, said 'we're delighted to be working more closely together with SAN. Our organisations have a number of shared values and aims, and we hope that this reciprocal membership will lead to a more united front to work towards more accounting for social and environmental impact and value.'

Lisa McMullan, Chair of the SAN Board, said 'With the increased interest which we have seen since the Social Value Act, we hope that by working more closely together, SAN and Social Value UK can help organisations in the social economy decide how best to measure their social impact’

Jeremy Nicholls will also be presenting a workshop on SROI at this year’s SAN Annual Gathering, which will be held in partnership with Salford University’s Business School, at their Media City Campus, on Friday 17th April 2015. For more information, go to the SAN website www.socialauditnetwork.org.uk.

SAN and SIAA, soon to be Social Value International, are also hoping to be able to put their global networks in touch with each other across the world.

SAN and the SROI Network had previously released a joint statement which described the similarities and differences between the two frameworks, available to download here.

The SROI Network asks How Do Companies Act? in new report

The SROI Network, soon to be Social Value UK, has just released a report calling for a change in legislation to demand more assurance ofCover social and environmental impact information.

The report, entitled How Do Companies Act, outlines an argument for extending statutory audit requirements of Annual Reports. It includes a discussion of gaps and limitations in current legislation in Companies Act that prevent investors from truly understanding social and environmental impact information that may inform their investment decisions.

Whilst this area does not always make headlines, the profession of accounting and auditing acts as the gatekeeper for large capital flows, and is fundamental to the way we choose to allocate resources. If long-lasting systemic change is to be effected, it is necessary to address this crucial link in the capital chain. This report is a step in this direction.

Jeremy Nicholls, CEO of the SROI Network, says ‘we have argued that whilst there is an increase in demand for information on the social and environmental impacts of a company’s activities, the current auditing requirement means that it is difficult for investors to know that this information is complete and accurate.’

‘We believe that strengthening this legislation will give investors a more accurate idea of where they are investing their money and, if in the investors’ interests, mean that investment will shift to businesses which on balance have less of a negative social and environmental impact.'

The report How Do Companies Act is available for download from the SROI Network’s website here. The report is a key part of the SROI Network’s wider campaign to change the way the world accounts for value, to increase the accountability of businesses to their stakeholders and the environment.

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Press contact

Helen Campbell, Communications and Membership Coordinator, The SROI Network

E: This email address is being protected from spambots. You need JavaScript enabled to view it.

T: +44 (0)151 703 9229

Notes to editors

About the SROI Network | www.thesroinetwork.org

Social Return on Investment (SROI) is a framework for measuring and accounting for the value created or destroyed by our activities – where the concept of value is much broader than that which can be captured by market prices. SROI seeks to reduce inequality and environmental degradation and improve wellbeing by taking account of this broader value.

The SROI Network, soon to be Social Value UK, is an international membership organisation with members in over 40 countries. It exists to support the vision of SROI through the formation of a collaborative network of individuals and organisations dedicated to the practice and support of SROI.

The membership comprises business advisors, academics, funders and individuals representing organisations across all sectors. All members want to influence change through their work; practicing SROI, creating national networks, developing the methodology and gathering examples of SROI and how it is being used.

Oaks Consultancy joins the SROI Network, soon to be Social Value UK

Oaks Consultancy has become the latest organisational member to join the SROI Network (soon to be Social Value UK).

Based in the West Midlands, Oaks Consultancy has an extensive history of impact measurement. Their recent work includes evaluation of a number of national sporting projects.

Oaks’ experience in SROI sprung from a social value evaluation of Streetgames Swindon (a project Oaks helped to create and fund), commissioned for Swindon Borough Council. The report is set to be completed over a three year period.

Luke Southall, Director of Business Development at Oaks, said “Social impact measurement is an increasingly important area within the voluntary sector and has become an integral part of the Oaks service offering over the last couple of years. We are delighted to join Social Value UK and look forward to meeting and hopefully working with the range of fantastic network members on a variety of different projects.”

The SROI Network, soon to be Social Value UK, are pleased to welcome Oaks Consultancy and look forward to working with them to support and promote the measurement and management of social value.

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Press Contacts

Rahul Bissoonauth, Account and Project Manager, Oaks Consultancy

E: This email address is being protected from spambots. You need JavaScript enabled to view it.            T: 0121 709 7736

Helen Campbell, Communications and Membership Coordinator, The SROI Network:

E: This email address is being protected from spambots. You need JavaScript enabled to view it.              T: 0151 703 9229

About Oaks Consultancy

Formed in 2008, Oaks is a strategic research and business development consultancy which provides a vast range of tailored, bespoke support to a variety of organisations from across the not-for-profit sector. Utilising the diverse skills of our 20-strong team of highly experienced and expert consultants, we are able to offer a wide range of services, including:

- Social impact measurement and evaluation

- Business planning and strategy development

- Performance management and reporting solutions

- Income generation support

- Governance and partnerships reviews and implementation support

- Training and mentoring

- Company, charity and social enterprise formations

About the SROI Network | www.thesroinetwork.org

Social Return on Investment (SROI) is a framework for measuring and accounting for the value created or destroyed by our activities – where the concept of value is much broader than that which can be captured by market prices. SROI seeks to reduce inequality and environmental degradation and improve wellbeing by taking account of this broader value.

The SROI Network, soon to be Social Value UK, is an international membership organisation with members in over 40 countries. It exists to support the vision of SROI through the formation of a collaborative network of individuals and organisations dedicated to the practice and support of SROI.

The membership comprises business advisors, academics, funders and individuals representing organisations across all sectors. All members want to influence change through their work; practicing SROI, creating national networks, developing the methodology and gathering examples of SROI and how it is being used.

SROI...on film

There have been some great new ways to show SROI findings recently - whilst reports can get the message across, vidoes can be an interesting and more creative way to present results.

We've got a couple of examples below, but if you have some other ones, let us know and we can update! Just drop This email address is being protected from spambots. You need JavaScript enabled to view it. an email.

 

Dame Kelly Holmes Trust

Dame Kelly Holmes Trust provide disadvantaged young people with mentoring and support from top athletes as they retire from competing. They completed an impact report with SkyBlue and Envoy Partnerships on their flagship Get On Track programme. Watch the video below, or read their impact report here.

 

 

The Home Care Service in Barcelona and its Social Return of Investment (SROI)

The Barcelona City’s Home Care Service (SAD) provides support and aid for dependent residents in their own home with the aim of detecting, preventing  and promoting their personal autonomy.

Antares Consulting worked in this project using the SROI methodology. Its main objective was to know and give value to the social impact (measured in economic terms) generated by the Home Care Service in the city of Barcelona.

 

 

Sinzer launch: new software features link with Global Value Exchange!

Long-standing member of the SROI Network Sinzer, formerly known as Social E-valuator, has released a new software solution for measuring impact. The team in the Netherlands have created this software to facilitate best practice of impact measurement.

Benefits include:

- Efficient and easy data entry to save time
- Online surveys to engage your stakeholders
- Clear dashboard to facilitate presentation of findings
- Ability to analyse and compare your project with scenarios and benchmarks
- Linking with the SROI Network’s very own Global Value Exchange meaning you can add outcomes, indicators and valuations with just a few clicks.

The SROI Network has its own ‘community’ on the site, meaning that our members can interact and invite others to help them complete their reports.

Sinzer is offering all SROI members a free 30 day trial of the new software solution. After this, members of the SROI Network can then create a personalised account in the SROI Network community for €200 per year. In your account, you can create one free SROI analysis (each subsequent project costs €60 per year extra).

To find out more and take advantage of this great offer, please contact Marlon directly on This email address is being protected from spambots. You need JavaScript enabled to view it., or take a look at their brochure.