CHALLENGES AND PROSPECTS FOR THE ESTABLISHMENT OF SOCIAL AUDIT IN UKRAINE

Abstract

This article explores the theoretical, social and practical dimensions of the problem of formation of social audit in Ukraine. The evaluation of the experience of forming a model of social audit in foreign companies shows that social audit, as a tool for social investment operations, serves not only as a systematic control of businesses’ compliance with social responsibility standards, but also as a recommendation to businesses in the form of proposals for their social development and development of social image. It is further clarified that the use of social audit makes it possible to increase the economic efficiency of companies, thus creating a synergistic effect. The article further outlines the peculiarities of establishing a relevant social audit in Ukraine, formed under the influence of the state on business and society. The state, as a regulator of social and economic development of economic systems, in most cases, initiates the establishment of social audit. Social audit is associated with large businesses and does not apply to small and medium-sized businesses. This imbalance leads to the need to strengthen the definition of social efficiency of business, develop methodical analytical tools to assess social responsibility, and study the peculiarities of social audit and describe its results. Provided are key directions of the development of social audit in the national socio-economic system that will make it possible to establish criteria for evaluating social, environmental and economic direction of companies, carry out their monitoring, and compile magisterial recommendations to ensure the efficiency of businesses’ social responsibility.