Value for Money Auditing: Some Observations on its Origins and Theory

Abstract

In both academic discourse and political debate, increasing reference has been and is being made to ‘value for money’ as a benchmark against which the performance of local authorities, and other parts of the public sector, can be judged. The phrase, value for money, implies that there exists a knowable and appropriate, even ideal, relationship between the inputs a local authority consumes and the outputs it provides, between its accomplishments and the monetary expenditure incurred in achieving them.