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Value for money audit

Forums › ACCA Forums › ACCA AA Audit and Assurance Forums › Value for money audit

  • This topic has 2 replies, 2 voices, and was last updated 13 years ago by claudia7.
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  • June 5, 2012 at 10:22 am #53114
    claudia7
    Member
    • Topics: 16
    • Replies: 3
    • ☆

    I would be grateful if anyone can explain me what are the problems with VFM.
    Thanks a lot.

    June 6, 2012 at 12:42 pm #99208
    litimus
    Member
    • Topics: 3
    • Replies: 18
    • ☆

    1.Its sometimes hard to measure outputs for organisations for example a hospital is number of patients attended to or those healed or those admitted?
    2.Organisations will have many conflicting objectives hence hard to measure effectiveness e.g a hospital wants to treat people and still cut operating costs. Hard to achieve both.
    3. Economy and efficiency are sometimes achieved by sacrificing quality.
    4. Over emphasis on economy may lead to going for short term goals at the expense of long term ones.

    June 6, 2012 at 9:03 pm #99209
    claudia7
    Member
    • Topics: 16
    • Replies: 3
    • ☆

    Thank you very much!

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