value for money audit

value for money audit

an assessment of whether a public agency or firm is providing ‘value for money’ in supplying goods or services. This usually involves an independent investigation of the way in which a public agency or firm organizes itself to supply products and the resulting costs of supply, and whether more COST-EFFECTIVE means of provision might be employed.

See COST-BENEFIT ANALYSIS.

References in periodicals archive ?
He furthered that they were prepared to assist the government provide services in other areas like project costing and management, value for money audit, research, arbitration and alternative dispute resolution.
IN the value for money audit, COA said government, through the TRN, is entitled to 50 percent of fees and charges that service facility operators give the tollway operators.
It goes on: "In view of the increasing cuts to school budgets, conference calls on the Welsh Government to publish - in a transparent manner - all funding sources for the regional consortia, and to carry out a value for money audit based on the impact on raising standards in the sector in relation to the impact on school budgets." A second motion from UCAC's Wrexham Association asks the conference to note "various apparently compulsory requirements presented to schools and teachers by the regional consortia e.g.
She then became State Auditor IV and Value for Money Audit Division chief until 2000.
"Instead of making numbers up, which I believe the Liberal party did, they should have had a value for money audit or at least a divestiture audit done back then," Fedeli said.
Presented by Lonsdale (Director-General, Value for Money Audit at the National Audit Office, UK), Wilkins (Deputy Ombudsman for Western Australia), and Ling (Director for Evaluation and Performance Audit, Rand Europe, UK), 15 chapters explore the development of performance audit regimes for measuring public sector performance in countries where performance auditing has a significant and well-established tradition: Australia, Belgium, the Netherlands, Sweden, the United Kingdom, and the United States.
Let's be honest, if a value for money audit was conducted and a clear-out sanctioned of all those needlessly drawing healthy salaries from the SFA the place would quickly resemble a ghost town.
Karen Taylor, director of Health Value for Money Audit, at the NAO, said the NHS does not know the true numbers due to under-reporting of deaths and serious incidents.
Karen Taylor, director of Health Value for Money Audit, at the NAO, said in reality "the NHS simply does not know" the true numbers due to under- reporting of deaths and serious incidents.
Karen Taylor, director of Health Value for Money Audit, at the NAO, said "the NHS simply does not know" the true numbers due to under-reporting of deaths and serious incidents.
A committee set up by the Senior Minister, Yaw Osafo Maafo, to do a value for money audit on the award and construction of an office complex to serve as the national headquarters of the Lands Commission in 2016 was overpriced by US$16,708,244.70.
In the value for money audit, COA also observed that the HEP funded through a P992.65-million budget from 2011 to 2017 "was not efficiently and effectively implemented due to the absence of clear and adequate implementation guidelines."