In today's dynamic operating environment, organisations focus not only on results but also in ensuring the achievement of value. The 'value' driven culture permeates all the spheres of the organisation. This shift in focus is meant to ensure that organisations achieve results in a way that also ensures value for money. However there are many performance driven challenges to achieving Value for Money (VFM).
In order to establish whether an organisation is achieving value, the auditor must be competent in assessing the economy, efficiency and effectiveness of the organization's usage of resources. Auditors are faced with the challenges of undertaking value for money audit in all aspects of the audit.
WHO SHOULD ATTEND?
Personnel in audit, accounting and finance.
HOW PARTICIPANTS WILL BENEFIT
At the end of the course participants will be able to:
- Carry out an independent assessment of economy, efficiency, and effectiveness
of the utilization of organizational resources;
- Explain the state of the art technologies applicable to value for money audit;
- Describe the principles and practices of value for money audit;
- Apply tools to plan and conduct Value for Money audit;
- Monitor and evaluate the effectiveness of risk management systems;
- Examine challenges experienced in carrying out value for money audit;
- Examine how the organizations can achieve value for money;
- Prepare value for money audit reports.
- Setting the context for Value for Money audit;
- Introduction to Value for Money audit;
- Value for Money readiness;
- Setting the context for value for money Audit;
- Introduction for value for Money Audit;
- Value for money readiness check;
- Value for Money audit evidence value;
- Value for Money auditing approach, process, methodology and tools;
- Value for Money audit evidence value for money auditing approach, process,
methodology and tools;
- Value for Money audit evidence.