The document discusses value for money audits (VFMA). It describes VFMA as assessing efficiency, economy and effectiveness of operations. The summary aims to provide high-level information on VFMA objectives, scope, requirements and process in 3 sentences or less: VFMA objectives are to assess if management has developed appropriate systems to achieve value for money through efficiency, economy and effectiveness of expenditure, and if budget execution meets public satisfaction. The scope of a VFMA covers financial and non-financial information by assessing actual performance against qualitative and quantitative standards. The VFMA process involves planning, execution of tests and controls assessment, and reporting findings, conclusions and recommendations.