Partnering for Impact: The Role of CSR Consulting Services Firms in NGO Due Diligence
Corporate social responsibility (CSR) consulting services firms are playing an increasingly important role in helping companies navigate...
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Corporate Social Responsibility (CSR) means the activities undertaken by a Company in pursuance of its statutory obligation laid down in section 135 of the Companies Act 2013 as per the activities listed under schedule 7.
Every company having net worth of rupees 500 crore or more, or turnover of rupees 1000 crore or more or a net profit of rupees 5 crore or more during the immediately preceding financial year.
A CSR consulting services firm works with an organization to develop and execute a properly defined & structured CSR strategy. It provides a range of CSR advisory services which does not only ensure compliance with the law but also enables the organization to deploy CSR programmes successfully and reap benefits from it.
A CSR consulting services firm provides the following CSR advisory services • Preparation/review of CSR documentation and ideation on CSR projects CSR consulting services firm reviews Company's documentation such as such as CSR policy, action plan, disclosures mandated by regulations etc. and suggests modifications. It also reviews existing and new CSR projects proposed for execution by the company from a regulatory perspective and offers the necessary advice • Devising CSR strategy and monitoring & evaluation framework for companies A CSR advisory services firm help companies identify thematic areas, assist in program design, promotion and communication approaches and evaluation procedures. A CSR consulting services firm assesses execution of projects on ground via review of project-related documents submitted by implementing partners and by conducting field visits. It also highlights gaps between planned and actual outcomes and provides recommendations on suitable way forward based on its findings • Conducting pre-grant due diligence of implementing partners As part of its CSR advisory service, CSR consulting services firm supports in conducting due diligence of implementing partners covering areas such as performance on past programs, staff skill set, systems and processes, data flow and management, governance and compliance related matters etc. • Undertaking impact assessment of projects Impact evaluation encourages a long-term perspective on CSR efforts. Companies use Impact assessment to strategically build their CSR programmes as they are able to measure efficacy of programs which helps in scaling and replicating impactful initiatives in other geographies. A CSR consulting services firm undertakes impact assessment of CSR projects to evaluate impact created by projects implemented while also identifying improvement areas in the delivery process.