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Value for Money AuditKnowledge Center |
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What is a Value for Money Audit? Meaning.A Value for Money Audit is a financial analysis looking into whether resources are used in an economic, efficient and effective way.. There is no universally accepted definition of value for money
audit. The Canadian Comprehensive Auditing Foundation defines Value
for Money Auditing as:
The United States General Accounting Office Auditing Standard defines Value for Money Auditing as: “Performance audits include economy and efficiency and program audits.
Also known as Comprehensive Auditing. Abbreviated as VFM auditing.
Compare with: X-Efficiency | Efficiency Wage | Impact/Value framework | Gross Profit Percentage |
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