• Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
HERALD EXPRESS | News in Cordillera and Northern Luzon
ADVERTISEMENT
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
HERALD EXPRESS | News in Cordillera and Northern Luzon
No Result
View All Result
Home Columns

7th Cooperative principle and social audit of cooperatives (Part 2)

Lotes P. Lab-oyan by Lotes P. Lab-oyan
November 22, 2015
in Columns
15
0
5
SHARES
80
VIEWS
Share on FacebookShare on Twitter

In our last column I shared on the possible areas of concern for the utilization of the community development fund (CDF) and the benefits derived by cooperatives when there is a crafted policy. It was pointed out that CDF is intended to help address the needs of members and non-members residing within the area of operation of a cooperative. As an institution with a mission to meet members’ needs, part of its net surplus goes to projects and activities that will benefit the community where it operates especially non-members. Similar to corporations that has corporate social responsibility, the recently amended Cooperative Code provided for funding for community development that is consistent with the international cooperative principles.

To fully understand the concept of social audit let us have a look at the issuances related to such topic. The Cooperative Development Authority issued Memorandum Circular No. 2013-16 series of 2013 entitled “Guidelines on Social Audit of Cooperatives” dated March 1, 2013 duly signed by Chairperson Emmanuel M. Santiaguel.  Section 1. Legal Bases. The legal basis for this guidelines are as follows:    “Article 80. Annual Audit-Cooperatives registered under this Code shall be subject to an annual financial, performance and social audit. The social audit shall be conducted by an independent social auditor accredited by the Authority. The Authority, in consultation with the cooperative sector, shall promulgate the rules and standards for the social audit of cooperatives.” “Article 53. Reports. (1) Every cooperative shall draw up regular reports of its program of activities, including those in pursuance of their socio-civic undertakings, showing their progress and activities at the end of every fiscal year.”

Section 2. Coverage. All registered cooperatives regardless of types and categories shall be subject to social audit and shall submit Social Audit Report. Section 3. Social Audit. It is a procedure where the cooperative assess its social impact and ethical performance vis-à-vis its stated mission, vision goals and code of social responsibility. It is a process to assess the cooperative’s contribution for the upliftment   of the status not only to its members’ economic needs but also social needs and the community where it operates. The cooperative’s actual performance and accomplishment are compared to its vision, goals and social responsibility as it relates to the impact not only to the community but to its regular members as the immediate beneficiary of the decisions and actions promulgated, passed and implemented. Social Audit will serve as control mechanism to account for its social performance and evaluate its impact in the community taking into account the community development fund which shall be used for projects or activities that will benefit the community where the cooperative operates.

Section 4. Objectives/Uses of the Social Audit. Social Audit validates the support of the cooperative to the seventh cooperative principles on the “Concern for the Community” and determines whether the cooperative work for the community’s sustainable development through policies approved by their members. The audit focuses not only on the economic side of the cooperative but also the social aspect of the organization and appraises the cooperative performance as value based organization usually participative, user and community oriented and non-profit but service organization and how its social responsibility for its members and the community as a whole was fulfilled. Social auditing is the systematic review of the attitudes, values, behavior, and degree of interaction of people within the cooperative as well as the policies, programs and activities being implemented by the cooperative.

Section 5. Social Audit Report. The attached Social Audit Tool which was approved by the Board of Administrators per Resolution no. 58 series, 2013 shall be used by the cooperatives as basis in reporting its annual socio-civic undertakings to be submitted to the Authority yearly. The Chairperson and the General Manager shall certify to the truthfulness of the statement contained in the report while the Chairperson shall finally approve the same.

To be continued…

For comments, reactions email us at loteslaboyan@yahoo.com. We shall be glad to help you and become a part of our growing CDA and Herald Express family.

Previous Post

Autonomy not a lost cause

Next Post

Austerity measures to combat negative effects of low metal prices

Next Post

Austerity measures to combat negative effects of low metal prices

ADVERTISEMENT

Recent News

Nickel Asia receives silver citation for Best Managed Basic Materials category in FinanceAsia Awards

Nickel Asia receives silver citation for Best Managed Basic Materials category in FinanceAsia Awards

June 18, 2025
NGCP’s Mariveles-Hermosa-San Jose 500kV Line now at full 8,000MW capacity

NGCP holds stakeholder consultation to tackle TDP 2025-2050

June 18, 2025
MP conducts PMRB capacity, deputation training 

MP conducts PMRB capacity, deputation training 

June 18, 2025
Atok LGU is regional literacy awardee

Atok to help boost booming tourism industry

June 18, 2025
ADVERTISEMENT
HERALD EXPRESS | News in Cordillera and Northern Luzon

Herald Express is a news organization based in Baguio City that has a weekly publication and an online news portal. The newspaper is circulated in the different provinces of Northern Luzon. The name of the fastest-growing publication in town is coined from the word ‘quick messenger’ which is self-explanatory.

Follow Us

Search

No Result
View All Result

© 2024 Baguio Herald Express | Website Design and Development by Neitiviti Studios

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT

Add New Playlist

No Result
View All Result
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us

© 2024 Baguio Herald Express | Website Design and Development by Neitiviti Studios