Value for money audit

Value for Money Audit:

We seek to promote better value for money by highlighting and demonstrating to clients ways in which they could make improvements to realize financial savings or reduce costs; guard against the risk of fraud, irregularity and impropriety; provide better quality services; strengthen and enhance their management, administrative and organizational processes; and achieve their aims and objectives more cost-effectively in capital projects.

As part of our review in achieving expected results, we investigate processes to ensure economy, efficiency and effectiveness are derived. The three Es aim to achieve different objectives in the organization:

· Economy - Acquisition of resources in appropriate quality and quantity, at minimum cost.

· Efficiency - Maximum output for any given set of inputs or the minimum inputs for any given quantity and quality of goods and services provided.

· Effectiveness - Extent to which any activity achieves the intended results, which can be either quantitative or qualitative.