Value-for-money audit in the auditor general's office
Author
Chong, Chun Hien
Koh, Yong Tye
Lee, Hwee Min
Date of Issue
1994School
College of Business (Nanyang Business School)
Abstract
The study attempts to give a general insight into value-for-money audit conducted
by the Auditor General's Office (AGO) and to evaluate how well it is meeting its objective
of ensuring economy, efficiency and effectiveness in the operations of the audited parties.
Several recommendations were also raised at the end of the study in the hope that it would
improve the value-for-money audit practiced by the AGO.
Interviews conducted with the AGO provided the necessary information for the
analysis of value-for-money audit methodology and practices. Questionnaires were also
distributed to the audited parties to obtain insights into the conduct and effectiveness of the .-value-
for-money audit as well as the auditees' opinion on and their satisfaction with the
AGO's audits.
A main weakness identified was the lack of agreement between the AGO and the
auditees on the use of suitable performance measures in the course of the audit. It is
believed that if the auditors can develop performance measures that are deemed reasonable
and are able to back them with the relevant data, their use would be more acceptable and
their contribution to the audits will be enhanced.
In the recommendations, proposals were raised which covered areas that included
monitoring arrangements, information systems, performance measures and working
relationships. It should be noted that the interpretation of the results and the
recommendations is to be confined within the scope of value-for-money audit performed by
the Auditor General's Office.
Subject
DRNTU::Business::Auditing
Type
Final Year Project (FYP)
Rights
Nanyang Technological University
Collections