Published May 16, 2025 | Version v1
Journal article Open

Auditing and Value for Money (Performance Management) Audits

Authors/Creators

  • 1. Graduate of the University of Sunderland with a Bachelor's degree in Accounting and Finance

Description

Value for Money (VFM) or performance management audits have become essential tools in both public and private sectors, ensuring that resources are utilized economically, efficiently, and effectively. This article explores the principles, methodologies, impacts, and challenges of VFM audits, drawing on empirical studies and international best practices. The analysis includes real-world examples, tables, and references to Scopus-indexed literature.

Files

255-262.pdf

Files (672.7 kB)

Name Size Download all
md5:246cc9decc941c28540ef7c2715f3e06
672.7 kB Preview Download

Additional details

References

  • 1. Eke, R. I., & Ogbebor, P. (2022). The Role of Value for Money Audit in the Attainment of Government Objectives. International Journal of Economics, Commerce and Management, X(10), 78–89.
  • 2. Nwosu, M. E., & Mshelia, M. I. (2015). Value for Money Audit: A Veritable Tool for Expenditure Management. International Journal of Financial Research, 6(3), 150–158.
  • 3. KPMG. (n.d.). Value For Money.
  • 4. ScienceDirect. (1998). Value for Money Auditing in New Zealand.
  • 5. Emerald Insight. (2020). Exploring past, present and future trends in public sector auditing.