Standards for Applying the Principles of Social Value - The Complete Set 

SVI publish the Complete Set of Standards for Applying the Principles of Social Value. The document is being published for public consultation to make sure  the standards reflect the current understanding of what is an aspirational level of best practice in applying the eight Principles of Social Value.

This publication marks a significant advancement of the ‘Framework for  Accounting for Value’, the methodology developed by SVI in collaboration with its members. We welcome feedback to the document from the public. Specific questions for feedback are included in the online feedback form.

The deadline to submit your comments is April 30, 2025.

Consultation Section 1

1a. Do you think Section One: An overview of the Principles of Social Value and the SVI Standards provides a clear overview of the Principles of Social Value and their purpose? If not, what else do you recommend should be included? 

1b. Do you think subsection The distinction between standards of practice and standards for reporting provides a clear understanding that the Standards are applied to practice (systems and processes), not only to reporting? If not, how could this be made clearer?

1c. Do you think this text at the beginning of Section Two provides a clear understanding that the Standards represent an aspirational level of best practice? If not, what else do you recommend should be included?

“These Standards set out an aspirational level of practice and are designed to improve impact management decisions and increase organisational accountability for all people affected”. 

2. In addition to this Set of Standards, Social Value International will be updating and producing guidance for their practical application. Which Principles do you feel are in most need of additional/updated guidance?

In relation to Section Three: The SVI Reporting Standard:

This is the first time SVI have released a reporting standard as part of the requirements for organisations to apply Principle 6: Be Transparent. We recognise that organisations aim to keep reports succinct to communicate most effectively with their audiences. As such we differentiate between information that should be in the main body of the report (General Disclosures) and additional information that should be made available for the purposes of report assurance but perhaps in an Appendix (Accounting Notes).

3a. Do you support the proposed distinction between General Disclosures that must be included in the main body of a report and information that can be provided in an appendix as Accounting Notes? Please provide your reasoning.

3b. Do you think the proposed distinction is done correctly, or should some information from Disclosures be included in the Accounting Notes and vice versa? Please explain the rationale behind your recommendations.

3c. Do you think a practitioner of social value should be responsible for producing both the Disclosures and the Accounting Notes in the Report?

3d. Do you think it would represent good practice for SVI to assure the Disclosures and the Accounting notes separately? Please explain your reasoning.

4. Please share any other overall comments on the Complete Set of Standards making specific reference to the relevant pages or sections in the document.

Consultation Section 2

1. Reading the standard for applying Principle 1: Involve Stakeholders what changes or additions would you recommend? Please justify your reasoning

2. Reading the standard for applying Principle 2: Understand What Changes what changes or additions would you recommend? Please justify your reasoning

3. Reading the standard for applying Principle 3: Value What Matters what changes or additions would you recommend? Please justify your reasoning

4. Reading the standard for applying Principle 4: Only Include What Is Material what changes or additions would you recommend? Please justify your reasoning

5. Reading the standard for applying Principle 5: Do Not Overclaim what changes or additions would you recommend? Please justify your reasoning

6. Reading the standard for applying Principle 6: Be Transparent what changes or additions would you recommend? Please justify your reasoning

7. Reading the standard for applying Principle 7: Verify the Result what changes or additions would you recommend? Please justify your reasoning

8. Reading the standard for applying Principle 8: Be Responsive what changes or additions would you recommend? Please justify your reasoning