.png?sfvrsn=dd675fd5_2)
.jpg?sfvrsn=d4038e84_0)
-(1).png?sfvrsn=db949de5_0)
6a6c7fe2013f4be3b0ecc0a5930da5c9.jpg?sfvrsn=ab5334c8_0)
/business-management-global-connection/istock-1167579720-c.jpg?sfvrsn=ff93f9a5_2)
/audit-assurance/istock-1169206203-c.jpg?sfvrsn=1d6f9b25_2)
/professionals/istock-845530100-c.jpg?sfvrsn=46efdedd_2)
/ethics-and-professionalism/istock-1141115724-c.jpg?sfvrsn=4e54d691_2)
/audit-assurance/istock-818732836-c-v3.jpg?sfvrsn=ae44e7b7_0)
.png?sfvrsn=905ee1bd_0)
/legal-secretarial/istock-866706340-c.jpg?sfvrsn=d7f57b8c_2)
Audit Guidance Statement (AGS) 7, Value for Money Auditing in a Statutory Board was previously developed to provide guidance for external auditors of statutory boards undertaking a Value for Money (VFM) audit. As envisaged by the Public Accounts Committee in its Report (June 1984), a VFM audit is an audit on the arrangements made by management to ensure value for money in the use of resources rather than the value for money actually achieved. VFM auditing is particularly appropriate for any organisation whose activities cannot be judged solely by their contribution to profit. VFM auditing is therefore particularly relevant to public sector entities.
AGS 7 was last revised in 2006 and ISCA has withdrawn AGS 7 with immediate effect.