M.Com. (Business Management) / The purpose of applicability of private sector, situation in South this study is to determine value-for-money-auditing in with specific reference to Africa. The methodology which has been followed, consists of a literature study of the theories and concepts of value-for-money-auditing as well as an empirical study to determine the perceptions of South African management with regard to value-for-money-auditing. The following substantial findings are identified as a result of the empirical study: Firstly, that South African management is well aware of the possibilities of value-for-money-auditing. A lack of knowledge is not the reason why this kind of audit is not performed in the private sector. Secondly, management does regard value-for-money audits as feasible, but they have neither the time nor the manpower to invest in a value-for-money-audit. Thirdly, this study has shown that the external auditor also does not have the mar:power· or the knowledge at his disposal to perform an effective value-for-money-audit. The independence of the external auditor is of no importance in management's decision on the most suitable per son to perform a value-for-money-audit. The limited application of value-for-money-auditing in the private sector may be attributed to the following: • Inadequate guidelines, exposure drafts and statements with regard to value-for-money-auditing • The inability of the external auditor to perform a value-for-money-audit as a result of the nature of his training; • The perception of private sector management that the external auditor is not the most suitable person to perform a value-for-money-audit. This presents a challenge to the external audit profession to alleviate the above-mentioned shortcomings through further research and studies to enhance value-for-money-auditing in the private sector.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:uj/uj:3953 |
| Date | 13 February 2014 |
| Creators | Durandt, Barend Johannes Vorster |
| Source Sets | South African National ETD Portal |
| Detected Language | English |
| Type | Thesis |
| Rights | University of Johannesburg |
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