Bunag, Sherilyn C

BSA – A3A

Summary:
In the study conducted by Renejoy Bulos (2020) entitled, “Social Audit Performance of
Multipurpose Cooperatives in Isabela, Philippines: Basis for Policy Recommendations,” social
audit performance of the audit cooperatives in Isabela were assessed. In evaluating the said
social audit performance, the study has focused on six different and inter-related components
such as organization, membership, staff/employees, cooperation among cooperatives,
community and nation, and network alliance and linkages. As presented, most cooperatives
showed promising results in their social audit result. In line with this, policies should be made in
relation to the preparation of annual social plan, in the design and implementation of Social
Performance Management System and in monitoring and evaluating social responsibility
programs that the cooperative is involved to.

Application:
As an aspiring CPA, I am aware that we should all be adaptive to the changes brought
about by the fast-pacing world. The need to be socially responsible is not only applicable to
cooperatives but to the rest of the other industries as well. This study has been beneficial for it
has served to provide deeper insights in the social audit of cooperatives relative to their social
impact and ethical considerations. These findings can served as a basis for aspiring auditors as
a tool for comparison with other cooperatives. This study has really been beneficial in
conducting audit beyond the financial information presented in the financial statements but in
the audit of the social performance and ethical considerations that cooperatives should be wary
of.