Value for Money and Performance Auditing

Internal Audit

Overview

This course focuses on the three Es of performance auditing - economy, efficiency, and effectiveness of programs, projects, and processes - and provides ways to assess these themes within organizations.

Why you should take this course

For users with an introductory knowledge of this topic, and are searching for additional information and its application.

Here are the topics we'll cover.

  1. The Basics
    • Course Introduction
    • Setting the Value for Money (VFM) Scene
    • VFM in Context
    • A Readiness Check
  2. Audit Planning
    • Controls vs. Performance Approaches
    • Determining the Audit Questions
    • Planning the Audit
    • The VFM Audit Process
  3. Audit Delivery
    • Applying the Process – Scenarios
    • Audit Conclusion
    • VFM Audit Reporting
    • Course Wrap-Up

Learning Style

Instructor Led

Level

Intermediate

Who this course is for

Chief Internal Auditors, Internal Audit Managers, Lead Auditors, and other experienced auditors in private, public, and non-profit practice.

CPE

24 credits

Field of Study

Auditing

Length of course

24h

Prerequisites

Fundamentals of Internal Auditing
or equivalent experience

Advanced Preparation

None
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Here are the learning objectives we'll cover

  • Understand the purpose of value for money (VFM) / performance review and its applicability to your business.
  • Describe ways to apply best practices developed in the public sector to drive real benefit within the private sector.
  • List techniques to plan, deliver, and report on VFM/performance audits.
  • Describe techniques to apply VFM auditing techniques to assess “economy, efficiency and effectiveness” in a wide range of business scenarios.
  • List ways to produce reports that maximize impact, drive improvement, and add real value to your business.

Attendance policy for on-site and online instructor-led training

Students are expected to arrive on time for classes with the proper materials and attitude. An overall attendance rate of 100% is expected to fully absorb the materials and to complete labs. If you have an expected absence, please email support@acilearning.com or your instructor ahead of time. The number of CPEs awarded will be equivalent to the number of hours attended.