Value for Money Audit: Project Audits

What is Value for Money (VFM) Audit?
• Organizational Drivers and Objectives
• Concept of Value for Money (VFM) Audit and its Roles in Achieving the Organizational Goals and Objectives
• Pillars of Value for Money (VFM) Audit
• The Challenges of Value for Money (VFM) Audit
• The Value for Money (VFM) Auditor

The Audit Function
• Purpose & Types of Audit
• The Roles & Procedures within the Internal Audit Department
• Audit Preparation and Planning to Ensure an Effective Audit
• Audit Testing / Sampling to Verify Accounts and Controls
• Communicating Audit Findings & Audit Reviews

Initiating and Planning the VFM Audit
• The Procedures of Value for Money Audit
• A Risk-based Approach to Value for Money (VFM) Audit: A Model Framework
• The Key Steps in the Value for Money (VFM) Auditing Cycle
• Special Planning Considerations for Value for Money (VFM) Audit
• Value for Money (VFM) Audit and KPIs
• Obstacles to the Conduct of Value for Money Audit

Executing the Value for Money (VFM) Audit
• Conducting the Value for Money (VFM) Audit
• Working with others during the Value for Money (VFM) Audit
• Setting and Assigning Value for Money (VFM) Audit Metrics
• Process of the Data Collection Process
• Analyzing Data and Extracting Conclusions
• Management Controls and Value for Money Audit

Reporting the Value for Money (VFM) Audit
• Documenting the Value for Money (VFM) Audit
• Quality Assurance of the Results
• Producing Value for Money (VFM) Audit Reports
• Distributing a Value for Money (VFM) Audit Report and the Impact

1ST BATCH: Tuesday, April 28, 2026 — Friday, May 1, 2026.

2ND BATCH: Tuesday, August 18, 2026 — Friday, August 21, 2026.

3RD BATCH: Tuesday, December 15, 2026 — Friday, December 18, 2026.

The training methodology integrates lectures, interactive discussions, collaborative group exercises, and
illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical
experience, emphasizing the application of learned techniques. This approach ensures that attendees return
to their professional environments equipped with both the competence and self-assurance to effectively
implement the acquired skills in their responsibilities.