Revision question on public sector auditing NBAA May 2019

The Controller and Auditor General (CAG) is required by the Public Audit Act No.11 of 2008 Section 28 to undertake the Value for Money Audit. Value for money audits are conducted to establish whether the management of an entity has developed appropriate systems and procedures to achieve value for money that is economy, efficiency and effectiveness in their operations.

REQUIRED:

(i) Describe the duties of the CAG in pursuing value for money audit.

(ii) Briefly discuss the usefulness of value for money audits in public sector.

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