Auditing and Value for Money (Performance Management) Audits

Latifa Akhmedova

Authors

Akhmedova Latifa Graduate of the University of Sunderland with a Bachelor's degree in Accounting and Finance Author

Abstract

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.

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References

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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.

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5. Emerald Insight. (2020). Exploring past, present and future trends in public sector auditing.