What is a social audit?

Answer:
Social audit, or social accounting, is the process in which the social and environmental impacts of a company's operations are communicated to interest groups or society itself.

An example of social accounting would be when a company does a study on what effect their operations have on the local economy.  It is used primarily by companies to make the companies take responsibility for their impact on the environment.

Social accounting first drew widespread interest in the 1970's, when its concepts were seriously considered by academic and professional organizations.  Social accounting is influenced by interest in and demand for greater environmental preservation.