Value for Money Audit

Introduction

This Value for Money Audit training course is designed to assist auditors in determining whether a company operates in a cost-conscious, practical, and efficient manner, as well as to develop the company's in-house audit function.
The internal audit's role is to assess management's performance in meeting critical objectives. Though Value for Money (VfM) audits are more common in the public sector, an increasing number of private businesses are conducting audits. However, few auditors have extensive knowledge of Value for Money Auditing.
This individual practice-based training course compiles the common components of VfM Audit-based interpreting into a single source for reviewers.

Course Objectives of Value for Money Audit

This Value for Money training course gives a basic sketch and in-depth look at auditing Joint Interest, Accounting procedures, and methods. This training course will provide accountants and other petroleum players with an understanding of the necessary functions and guidance for Joint Interest Auditing.

At the end of this training course, you will be ready to:

• Plan a Value for Money (VfM) audit
• Recognize key elements of a joint interest audit
• Promote a risk-based approach to audit
• Create compelling Value for Money (VfM) audit reports
• Know the best manner to investigate fraud

Course Methodology of Value for Money Audit

Participants in this Value for Money (VfM) Audit training course will get thorough training on the topics a variety of proven adult training instruction and facilitation techniques.

The Training methodology involves:

• Case studies from the various industry sector
• Group analysis, group work, and interactive activities and videos
• Pre & Post-course evaluations to enhance learning outcomes for participants and to estimate the effectiveness of this training

Organizational Impact of Value for Money Audit

The organization will increase:

• More efficient Audit support for all the staff
• Greater relevance and dependability of Audit information
• More tricky thinking and focus on performance
• More efficient use of Value for Money (VfM) Auditing of the company
• Preparation of staff for growth loyalty

Personal Impact of Value for Money Audit

This training course will be of personal benefit to delegates by providing you with:

• A more immeasurable knowledge of the context and significance of the work you do
• Refined expertise and skills to develop your effectiveness
• Greater appreciation of industry practices, problems, and solutions
• Expanded understanding and confidence to complete tasks fortunately
• Developed self-confidence and motive at work
• Greater job pleasure in implementing quality support to management
• Greater ability to supervise, develop and motivate colleagues