value for money audit definition

value for money audit

Independent audit of a not-for-profit organization (government agency or unit, charity, trust, etc.) to assess the effectiveness and efficiency of its utilization of funds. It is employed where the standard commercial performance (profit oriented) measures cannot be used. Also called value for money analysis.

value for money audit is in the Accounting & Auditing and Banking, Commerce & Finance subjects.

value for money audit appears in the definition of the following term: value fore money analysis

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