Value for Money (VFM) Audits

Value for Money (VFM) audits assess whether organizations, especially public bodies, are effectively using their resources to achieve their objectives. They review if spending is economical (cost-effective), efficient (using resources well), and provides a good return or benefit. The goal is to ensure the organization is delivering quality services without waste or overspending, and that funds are prioritized to generate the best outcomes for the cost. Essentially, VFM audits help identify whether resources are being used wisely to maximize benefits for the community or stakeholders.