ACCA BT · Chapter 8 · Question 11 of 11
Which of the following types of audit is concerned with assessing whether an organisation's activities are being carried out economically, efficiently and effectively?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) A value for money audit
Explanation
A value for money audit examines the economy, efficiency and effectiveness of an activity or programme and is frequently performed by internal auditors or public sector audit bodies. Statutory and financial statement audits focus on the truth and fairness of financial statements, and a compliance audit checks adherence to particular rules.
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