Value for Money

This session examines the concepts and application of the three Es of performance auditing, economy, efficiency, and effectiveness of programs, projects, and processes. The concept of VFM auditing has its roots in the public sector and provides an organized and systemic approach to evaluate the delivery of programs and services. It can be readily applied to other for-profit sectors as an acceptable approach to provide stakeholders with assurance and insight on the appropriate use of resources for their intended outcomes.

Why you should take this course

Basic and intermediate knowledge of internal audit and program evaluation

Course Objectives

The participants should be able to either describe or develop the following:

• Value for money (VFM) concepts and methodology