An Interactive 5-Day Training Course
Value for Money Audit
Discovering Techniques in Assessing Effectiveness
and Efficiency of Your Organisational Funds
Course Overview
This GLOMACS Value for Money Audit training course is designed to assist the auditor in assessing whether an organization operates in a cost conscious, efficient and effective manner, and it will improve the organization’s internal audit function.
The role of internal audit is to assess the management in achieving the strategic objectives. Though generally Value for Money (VfM) audits are performed more frequently in the public sector, there are an increasing number of private companies carrying out VfM audits. However, few auditors have in-depth experience of Value for Money Auditing.
This unique practice-based GLOMACS training course brings together the common elements of VfM Audit based reviewing into a single source for a reviewer.
Training Outline
DAY 1: 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 (VfFM) Audit
- The Value for Money (VfM) Auditor
DAY 2: 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
DAY 3: 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
DAY 4: 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
DAY 5: 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
- Case Study & Discussion
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
What do you need to learn next?
Check our list of courses or let us customize a course for you.
View courses
