VfM audit and the UK public sector: A critical review of the VfM reports

IF 3.1 Q2 BUSINESS, FINANCE Financial Accountability & Management Pub Date : 2022-06-29 DOI:10.1111/faam.12338
Abdelhafid Benamraoui, Eleni Chatzivgeri, Surendranath Rakesh Jory, Ranjitha Ajay
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Abstract

The study investigates why the value for money (VfM) audit, in its current form, fails to capture the actual state of affairs in the UK public organizations. To address this, we utilize a VfM assessment matrix and key public sector performance indicators to critically evaluate the VfM reports published by two main public bodies in the United Kingdom, that is, the National Health Services and the police authorities, alongside the reports published by the National Audit Office and Her Majesty's Inspectorate of Constabulary and Fire & Rescue Services. Our results reveal that the VfM reports do not clearly show how the 3Es (i.e., economy, efficiency, and effectiveness) associated with the VfM assessment are attained. There are also limited suggestions on the public bodies’ service output or social outcomes and how performance targets are fulfilled. We deduce that the VfM audit's failure to capture these elements significantly curtails the benefits of the VfM exercise to public bodies. We argue for complementing the current VfM assessment with a review of the performance of these bodies based on the services they offer as well as their strategic objectives.

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VfM 审计与英国公共部门:对虚拟财务管理报告的批判性审查
本研究探讨了为什么目前形式的资金效益审计未能反映英国公共组织的实际状况。为了解决这个问题,我们利用一个 VfM 评估矩阵和关键公共部门绩效指标,对英国两个主要公共机构(即国家卫生服务机构和警察当局)发布的 VfM 报告,以及国家审计署和女王陛下警察及消防救援服务监察局发布的报告进行了批判性评估。我们的研究结果表明,VfM 报告没有明确说明如何实现与 VfM 评估相关的 3E(即经济、效率和效益)。对公共机构的服务产出或社会成果以及如何实现绩效目标的建议也很有限。我们推断,由于虚拟财务管理审计未能捕捉到这些要素,因而大大削弱了虚拟财务管理工作对公共机构的益处。我们认为,应根据这些机构提供的服务及其战略目标,对其绩效进行审查,以补充目前的自负盈亏评估。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
4.90
自引率
18.20%
发文量
27
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