The study investigates why the value for money (VfM) audit, in its current form, fails to capture the actual state of affairs in the UK public organizations. To address this, we utilize a VfM assessment matrix and key public sector performance indicators to critically evaluate the VfM reports published by two main public bodies in the United Kingdom, that is, the National Health Services and the police authorities, alongside the reports published by the National Audit Office and Her Majesty's Inspectorate of Constabulary and Fire & Rescue Services. Our results reveal that the VfM reports do not clearly show how the 3Es (i.e., economy, efficiency, and effectiveness) associated with the VfM assessment are attained. There are also limited suggestions on the public bodies’ service output or social outcomes and how performance targets are fulfilled. We deduce that the VfM audit's failure to capture these elements significantly curtails the benefits of the VfM exercise to public bodies. We argue for complementing the current VfM assessment with a review of the performance of these bodies based on the services they offer as well as their strategic objectives.

中文翻译：

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VfM 审计和英国公共部门：对 VfM 报告的严格审查

该研究调查了当前形式的物有所值 (VfM) 审计为何无法反映英国公共组织的实际状况。为了解决这个问题，我们利用 VfM 评估矩阵和关键公共部门绩效指标来严格评估英国两个主要公共机构（即国家卫生服务部门和警察当局）发布的 VfM 报告以及国家审计署和英国警察及消防救援服务监察局。我们的结果表明，VfM 报告没有清楚地表明如何实现与 VfM 评估相关的 3E（即经济性、效率和有效性）。对于公共机构的服务产出或社会成果以及如何实现绩效目标的建议也很有限。我们推断，VfM 审计未能捕捉到这些要素，从而大大削弱了 VfM 活动给公共机构带来的好处。我们主张根据这些机构提供的服务及其战略目标对其绩效进行审查，以补充当前的 VfM 评估。