CSR Guidelines for the Financial Sector - page 78

4. Only includewhat ismaterial:
Determinewhat information and evidencemust be included in the accounts to give a true and fair picture, such that
stakeholders can draw reasonable conclusions about impact.
This principle requires an assessment of whether a personwouldmake a different decision about the activity if a
particular piece of informationwere excluded. This covers decisions about which stakeholders experience significant
change, as well as the information about the outcomes. Decidingwhat ismaterial requires reference to the
organization’s own policies, its peers, societal norms, and short-term financial impacts. External assurance becomes
important in order to give those using the account comfort that material issues have been included.
5. Donot over-claim:
Only claim the value that organizations are responsible for creating. This principle requires reference to trends and
benchmarks to help assess the change caused by the activity, as opposed to other factors, and to take account of
what would have happened anyway. It also requires consideration of the contribution of other people or
organizations to the reported outcomes in order tomatch the contributions to the outcomes.
6. Be transparent:
Demonstrate the basis onwhich the analysismay be considered accurate and honest, and show that it will be
reported to and discussedwith stakeholders.
This principle requires that each decision relating to stakeholders, outcomes, indicators and benchmarks; the sources
andmethods of information collection; the difference scenarios considered and the communication of the results to
stakeholders, should be explained and documented. This will include an account of how those responsible for the
activity will change the activity as a result of the analysis. The analysis will bemore crediblewhen the reasons for the
decisions are transparent.
7. Verify the result:
Ensure appropriate independent assurance. Although an SROI analysis provides the opportunity for amore complete
understanding of the value being created by an activity, it inevitably involves subjectivity. Appropriate independent
assurance is required to help stakeholders assess whether or not the decisionsmade by those responsible for the
analysis were reasonable.
Schema, is working on creating a tailored databasewith all relevant financial proxiesmaking SROI a reality in the
Middle East andNorthAfrica region. Formore information about SROI measurement, and the financial proxies
used, please contact us directly at
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