Most often, private sector companies and government establishments equate services rendered with amount of money spent. The effectiveness of money spent is hardly taken notice of. In carrying out value for money audit, uppermost in the mind of the Auditor should be finding ways and means of improving service delivery systems, enhancement of efficiency and effectiveness and survey of ways to save cost while maintaining quality of output and services. Modern auditors transiting from financial/compliance auditing to operational and value for money auditing will find this course quite exciting and useful.

Focus of the Workshop

To teach participants on the best method of auditing project and ways of enhancing value for every kobo paid within the public and private sectors establishments.

Content:

• An overview of value for money auditing
• Exploring management issues, concerns and functions
• Focus on effectiveness, efficiency, and economy of operations
• Determine if the area under audit meets the attributes of effectiveness
• Bring creativity into the audit process
• Apply the value- for-money approach to a wide variety of audits, including audit of functions, processes, programs, are initiatives
• Four characteristics of effective business processes
• Determine value-added and non-value-added activities
• Analyses the process, identify time and cost drivers and recommend process improvements
• Build internal control into the new process
• Value for money audit report
• Practical examples
• Emerging trends and future challenges

The Workshop Is Designed For:

Corporate Internal Auditors, Accountants and Other Managers/Officials involved in making and execution of corporate decisions in both the public and private Sectors including Banks, Oil Companies, Insurance Companies, Manufacturing Companies, Service Companies, Trading Organisations, Government Ministries, Parastatals, Agencies, Commissions, Local Governments, etc.