1. Social audit and accounting are processes that enable organizations to assess and demonstrate their social, economic, and environmental impacts and discharge social responsibilities. 2. Key principles of social auditing include obtaining multi-perspective views of stakeholders, conducting comprehensive and participatory assessments, producing regular accounts for comparison and verification by independent auditors, and publicly disclosing audit findings. 3. Benefits include involving communities to ensure funds are spent as needed, reducing wastage and corruption, raising public awareness, and improving governance.