value-for-money auditing

VFM An alternative term for Operational auditing. The term is frequently used in the United Kingdom and countries with a history of British influence, in the context of *public sector auditing, for audits that assess the Three E’s of the *economy *efficiency and *effectiveness. Further reading: Flesher et al. (2003)

Auditor's dictionary. 2014.

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  • value for money audit — Fin an investigation into whether proper arrangements have been made for securing economy, efficiency, and effectiveness in the use of resources. Abbr. VFM. Also known as comprehensive auditing …   The ultimate business dictionary

  • comprehensive auditing — An alternative term for Cperational auditing. The term was used widely in the United Kingdom and the British Commonwealth until the 1970s, when it was largely supplanted by the term *value for money auditing …   Auditor's dictionary

  • comprehensive auditing — See: value for money audit …   Accounting dictionary

  • comprehensive auditing — Fin see value for money audit …   The ultimate business dictionary

  • Blown for Good —   Book cover …   Wikipedia

  • Center for Audit Quality — Infobox Company company name = The Center for Audit Quality company company type = Autonomous member funded non profit foundation = 2007 location = Washington, D.C., USA key people = Cynthia M. Fornelli, Executive Director homepage =… …   Wikipedia

  • introduction — A method of obtaining a listing ( official listing) for shares. Where a company wishes its shares to be listed and it already has a wide range of shareholders such that the marketability of the shares on listing can be assumed, it is permitted to …   Financial and business terms

  • Public Accounts Committee (United Kingdom) — The Public Accounts Committee (PAC) (strictly, the Committee of Public Accounts) is a select committee of the British House of Commons. It is responsible for overseeing government expenditures to ensure they are effective and honest. The PAC is… …   Wikipedia

  • six E’s — An expansion of the traditional *Three E’s of *economy, *efficiency, and *effectiveness in Operational or *value for money auditing to include (i) *equity (or *corporate social responsibility), (ii) environmental concerns, and (hi) *ethics.… …   Auditor's dictionary

  • three E’S — The term used in Operational or *value for money auditing to denote the *economy *efficiency and * effectiveness of operations under audit. Operational audits frequently use these three criteria, which have been summarized succinctly as follows… …   Auditor's dictionary

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