Principle 7: Verify the result
Standard on applying Principle 7
Ensure appropriate verification of results in line with the decisions being supported. In cases where results are being reported to external audiences and/or are supporting significant decisions, independent assurance is required.
Information on applying Principle 7: Verify the result can be found in the Guide to Social Return on Investment (2012), available here. Information on the assurance and accreditation services provided by SVUK is available here.
The Standard on applying Principle 7: Verify the result is due to be published soon.
Useful guidance:
Social Value UK: Report Database
The SVUK Report Database has over 850 social value and SROI reports, many of which have been assured by Social Value International.
Social Value UK: Assurance and Accreditation
Social Value UK provide a range of assurance and accreditation services on behalf of Social Value International (SVI).
Assurance provides confidence in your work and the judgements you have made. It is also a useful learning tool to assess how you might be able to improve your social value measurement and management systems. Assurance also speaks directly to Principle 7 – Verify the result.
A Discussion Document on Assurance of Social and Environmental Valuations
This document is not intended to be an assurance guide, framework or standard; but instead to set out a number of issues that will need to be considered during an assurance engagement that examines data that values impacts (referred to herein as ‘valuation data’), and which should be addressed in the future should an assurance framework or standard be developed for valuation data. This paper is intended to start a discussion, and not to be an exhaustive analysis of all relevant issues.