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

VfM audit and the UK public sector: A critical review of the VfM reports
VfM audit and the UK public sector: A critical review of the VfM reports
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.
NHS, VfM audit, VfM reports, police authorities, public sector
0267-4424
1-28
Benamraoui, Abdelhafid
cab76a76-4275-4da9-9a09-7fc06eb3887e
Chatzivgeri, Eleni
dc3af220-36b8-4ac2-9747-0417becc0970
Jory, Surendranath
2624eb24-850a-48f6-b3c6-c96749b87322
Ajay, Ranjitha
dfc07a0c-6018-4503-8e8f-495ebdfdea84
Benamraoui, Abdelhafid
cab76a76-4275-4da9-9a09-7fc06eb3887e
Chatzivgeri, Eleni
dc3af220-36b8-4ac2-9747-0417becc0970
Jory, Surendranath
2624eb24-850a-48f6-b3c6-c96749b87322
Ajay, Ranjitha
dfc07a0c-6018-4503-8e8f-495ebdfdea84

Benamraoui, Abdelhafid, Chatzivgeri, Eleni, Jory, Surendranath and Ajay, Ranjitha (2022) VfM audit and the UK public sector: A critical review of the VfM reports. Financial Accountability & Management, 1-28. (doi:10.1111/faam.12338).

Record type: Article

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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Financ Acc Manag - 2022 - Benamraoui - VfM audit and the UK public sector A critical review of the VfM reports - Version of Record
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Accepted/In Press date: 8 June 2022
e-pub ahead of print date: 29 June 2022
Published date: 29 June 2022
Additional Information: Publisher Copyright: © 2022 John Wiley & Sons Ltd.
Keywords: NHS, VfM audit, VfM reports, police authorities, public sector

Identifiers

Local EPrints ID: 469970
URI: http://eprints.soton.ac.uk/id/eprint/469970
ISSN: 0267-4424
PURE UUID: e2162227-b7ab-46c2-a1d6-e198c0cd385d
ORCID for Surendranath Jory: ORCID iD orcid.org/0000-0002-8265-0001

Catalogue record

Date deposited: 29 Sep 2022 16:42
Last modified: 30 Sep 2022 01:45

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Contributors

Author: Abdelhafid Benamraoui
Author: Eleni Chatzivgeri
Author: Ranjitha Ajay

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