DMPQ- What are the Principal and Secondary objectives of Social Audit?

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Principal Objectives of Social Audit

 

The principal objectives according to Goyder are as follows.

  1. The extension, development and improvement of the company’s business and building up of its financial independence.
  2. The payment of a fair and regular dividend to the shareholders.
  3. The payment of fair wages under the best possible conditions to the worker.
  4. The reduction of prices to the consumers.

Secondary Objectives of Social Audit

 

  1. Provision of a bonus to the workers.
  2. Assist in promoting the amenities of the locality.
  3. Assist in developing the industry in which the firm is a member.
  4. Promote education, research and development in the techniques of the industry.

From these objectives, we can infer that social audit is really an extension of the principle of public disclosure to which corporations are subject.