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Value for Money Audit

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PPGPortal > Home > Concept Dictionary > T, U, V > Value for Money Audit
 
 

Value for Money (VFM) Audit

A Value for Money (VFM) Audit includes auditing all aspects of an organization, both human capital and financial resources and determining if there is consistent effectiveness in achieving its goals and efficiency in managing its resources.

(International Peer Review of the Value for Money Audit Practice of the Office of the Auditor General of Canada http://www.oag-bvg.gc.ca/internet/English/acc_rpt_e_10221.html)

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VFM Audits address the root causes for inefficient practices within an organization and how it can be changed to help achieve its overall objectives.

     

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