Project Audit & Value for Money

Statistics show that nearly one-third of projects are abandoned, half go over budget and most fail to meet deadlines. How can you measure the success of a project? One way is by objective auditing which monitors and reports on performance in key areas. One key performance criterion is Value For Money (VFM). VFM audits (or "Performance Audits") focus on an organisation's objectives and the economic, efficient and effective use of resources.

This unique two-week course, organised by Crown Agents in association with CATS International , makes extensive use of real-life examples and case studies and is designed to give authoritative guidance on the audit of all types of projects.

Who is the course for?

All auditors and audit managers, both internal, external and anyone responsible for ensuring that projects are adequately controlled and for achieving best value for money expended.

What will you learn?

You will be able to:

	undertake project audits of various sizes and subjects in a structured manner
	study expenditures and evaluate them in terms of value for money concepts and make recommendations for future expenditures
	improve your personal and assignment performance in these specialist areas
	perform both types of audit in a manner consistent with international standards

Course Profile

The following areas will be covered:

The Management and Environment

	the nature and types of projects
	essential project management concepts
	roles and responsibilities and stakeholders
	why projects fail and lessons to be learnt
	identification of standards, risks and controls
	stages of a project
	contribution of internal and external auditors

Principles and Practices of Project Auditing

	approach to project auditing
	involvement at each stage of the project
	planning, ascertaining and documenting
	assessing risks and controls
	testing controls at each key stage
	evaluating and reporting
	use of specialists and skills needed Principles and Practices of VFM Auditing
	the nature and concepts of VFM
	economy, efficiency and effectiveness
	risk-based systems-audits, step-by-step
	VFM investigations and audits
	performance indicators and benchmarking
	Achieving Success
	obtaining and interpreting firm evidence
	working with other professionals
	sensible and practical recommendations
	effective reports

Benefits to you and your organisation

As an auditor you will add to your competency in and familiarity with modern audit concepts. You will gain valuable knowledge of how to approach the audit of projects and VFM. Your organisation will benefit from the additional confidence it can give to clients, donors and stakeholders.

To book a place on this course, please download a copy of the booking form (pdf, 26KB ) and send this direct to Crown Agents at the address shown on the form.