“…We intend to improve the analysis of the social impact of NGOs operating in developed countries (Chen et al, 2019; Kucharska & Kowalczyk, 2018) to gain a better understanding of their role when interacting both with the public and with final users (Cashmore & Axelsson, 2013; Karjalainen & Järvikoski, 2010; Partidario & Sheate, 2013; Walker, 2010), in this way providing indications for scholars, practitioners, managers, and policy makers. Our literature review highlights the key factors affecting social accounting, NGOs' impact performance measurement, and stakeholder engagement when pursuing sustainable development (Dzhengiz et al, 2021; Fontana, 2018; Van Hille et al, 2019). We also highlight the existence of room for additional actions, especially at the normative level, considering the importance for policy makers to examine and measure—as stated by the Organisation for Economic Co‐operation and Development (OECD, 2007)—the costs, benefits, and potential effects of new regulations, such as the one enacted in Italy regarding social accounting for NGOs.…”