LBG Canada The Importance of Auditing (Part I)
Why auditing your data is important
LBG (London Benchmarking Group) Canada is a network of companies seeking to maximize the impact of community investment – for society and for business. Together, LBG Canada companies set the highest standard in community investment management, performance measurement and reporting in Canada. We support LBG Canada companies in:
· Audit: Adopt a recognized global standard to value community investment and report results
· Advise: Gain insights and tools to maximize community investment performance
· Achieve: Demonstrate the strength of community partnerships and measurable impact
LBG Canada is currently in the middle of the 2014 Audit and Benchmarking cycle, with 95% of participants submitting their data for audit. So far this year, we have audited over 40,000 community investment transactions revealing $339 million in LBG Canada company investment and $48 million in external resources leveraged. Community investment auditing is an important process as it results in a clear understanding of the value of an overall community investment portfolio. We will be completing the 2014 LBG Canada benchmarking audit by the end of April and will communicate those results with our members at that time.
The attached infographic illustrates what exactly LBG Canada does audit and why community investment auditing is important: so that the value of community investment as a business unit is clearly understood.
For previous analysis on external resources leveraged, employee engagement and giving, please see previous infographics from this series. Visit our website at www.simpactstrategies.com or contact SiMPACT Strategy Group at 403.444.5683.