WASHINGTON, D.C., Jul. 17 /CSRwire/ – Once again, Raffa recertifies to maintain its third party Certified B Corp Seal and this year substantiates its commitment to Do More through a comprehensive B Lab audit review and site visit while boosting its B Corp impact score by 10+ points. Raffa first obtained B Corp certification in 2013 with an initial score of 112 and then recertified in 2015, boosting its score to 118. For its July 2017 recertification, Raffa has achieved a score of 129.
By voluntarily meeting higher standards of social and environmental impact, accountability, transparency and performance, Certified B Corps distinguish themselves as value aligned businesses who exist to create a more shared and durable prosperity for all. B Lab, the nonprofit outlining the social and environmental performance standards as a rubric for corporations, has designated only 2,189 corporations from 50+ countries and 130 industries with the B Corp certification to date. Raffa remains the only Certified B Corp on the nation’s list of Top 100 accounting firms and is also one of only 19 Certified B Corps in the District of Columbia.
To obtain B Corp certification, companies must demonstrate adherence to strict standards related to Governance, Workers, Customers, Community and Environment and score 80 or higher on the B Impact Assessment. B Corps are required to recertify every two years to ensure continued validity of their status and each year 10% of Certified B Corporations are also randomly selected for an in-depth document audit and on-site review. The visit, which includes 1:1 interviews across the company, typically takes between 6-10 hours depending on the size and scope of business. Certified B Corps that are wholly-owned subsidiaries or public companies are subject to a mandatory on-site Site Review during each two year certification term.
This year, Raffa was one of 200 privately-held firms selected for audit by B-Lab. The process began in April and culminated last week when Raffa received its 2017 Site Review Report, including a summary of findings, including score adjustments, recommendations, and best practices.
“Our goal for this review is to verify the requirements of the Certification and further confirm the accuracy of affirmative responses in the company’s B Impact Assessment. This component of the B Corp Certification is critical in maintaining the authenticity of the Certified B Corp Seal,” said B Lab Standards Analyst, Mike McGrory. “
“Typically, we see a 5-10% drop in impact scores after a B Corp audit, but Raffa increased by 8% reflecting a higher level of impact with their stakeholders, even as the business grows. We applaud Raffa for exemplary policies and practices that demonstrate the company’s leadership in the B Corp community,” said McGrory.
“Not surprisingly, our reviewers were most impressed by our civic engagement, community impact and transparency as well as our commitment to inclusion and diversity,” said Tom Raffa, Raffa’s Founder and CEO.
The firms’ demographics contrast sharply with national industry trends as Raffa is the only national Top 100 firm where more than 50% of owners and 65% of the employers are women. At Raffa, 12 of the 18 partners are women and of the seven equity partners, five are women, leading an international, multi-cultural staff.
“As we continue to improve and integrate positive impacts on society and the environment directly into our corporate strategy,” said Raffa, “the B-Lab audit felt very affirming and also provided a useful roadmap for setting improvement goals particularly around our environmental footprint and supply chain practices.”
In 2019, Raffa will be off the B Lab list for potential audit but plans to recertify and continue to evolve as a force for good.
As a B-Corp certified, national Top 100 professional services advisory firm to nonprofits and socially-responsible businesses Raffa provides a wide array of services and back-office solutions to support and strengthen every aspect of their clients’ operations from tax, audit, accounting and HR administration, to IT services, benefits, and wealth management. With a mission to serve as a catalyst for positive systemic change, Raffa is about the people they serve, the relationships they nurture, the individual and collective contributions of their staff, and the myriad of actions they take for the betterment of the community.
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