Course Date Location Course fee: Registrations (Group)
Start Date: 24/10/2022 End Date: 28/10/2022 Mombasa $ 1,000 Register as Individual Register for Online Training Register as a Group
Start Date: 21/11/2022 End Date: 25/11/2022 Nairobi $ 1,000 Register as Individual Register for Online Training Register as a Group
Start Date: 19/12/2022 End Date: 23/12/2022 Mombasa $ 1,000 Register as Individual Register for Online Training Register as a Group


This training course is designed to assist the auditor in assessing whether an organization operates in a cost conscious, efficient and effective manner, and it will improve the organization’s internal audit function. The role of internal audit is to assess the management in achieving the strategic objectives. Though generally Value for Money (VFM) audits are performed more frequently in the public sector, there are an increasing number of private companies carrying out VFM audits. However, few auditors have in-depth experience of Value for Money Auditing. This unique practice-based training course brings together the common elements of VFM Audit based reviewing into a single source for a reviewer. 


This Value for Money training course provides a basic overview and in-depth look auditing Joint Interest, Accounting procedures and processes. This training course will provide accountants and other players with an understanding of the necessary functions and operations for Joint Interest Auditing.

At the end of this training course the participant will be able to:

   Conduct a Value for Money (VFM) audit

   Identify key elements of a joint interest audit

   Develop a risk-based approach to audit

   Produce compelling Value for Money (VFM) audit reports

   Understand the best practice in investigate fraud


Participants to this Value for Money (VFM) Audit training course will receive thorough training on the subjects a variety of proven adult learning teaching and facilitation techniques. The Training methodology includes:

   Case studies from the different industry sector

   Group discussion, group work and interactive exercises and videos

   Pre & Post course assessments to enhance learning outcomes for participants and to measure the effectiveness of this training


The organization will gain:

   More effective Audit support for all the staff

   Greater relevance and reliability of Audit information

   More strategic thinking and focus on performance

   More effective use of Value for Money (VFM)  Auditing of the company

   Preparation of staff for increased responsibility


This training course will be of personal benefit to the participant by providing:

   A better understanding of the context and importance of the work you do

   Improved knowledge and skills to improve your effectiveness

   Greater awareness of industry practices, problems and solutions

   Increased understanding and assurance to complete tasks successfully

   Increased self-confidence and motivation at work

   Greater job satisfaction in providing quality support to management

   Greater ability to supervise, develop and motivate colleagues



5 days


This training course is open to all and will be useful to all accounting professionals and auditors working within or with joint ventures particularly internal auditors that need to execute Value for Money (VFM) or Performance reviews.

   Auditors / Auditing Managers

   Accounting Executive / Managers

   Financial Reporting Managers

   Financial Executives / Managers / Controllers /Directors

   Budgeting Officers / Executives / Managers

   Cost Controllers, Executive & Managers

   Treasurers / Managers

   Taxation & Reporting Executives / Managers

   JV Executives / Managers / Advisors

   Production Sharing Executives / Managers / Advisors

   Business / Investment Analysts & Managers

   Regulatory Compliance Officers

   Commercial Analysts, Executives & Manager


Module 1

What is Value for Money (VFM) Audit?

   Organizational Drivers and Objectives

   Concept of Value for Money (VFM) Audit and its Roles in Achieving the Organizational Goals and Objectives

   Pillars of Value for Money (VFM) Audit

   The Challenges of Value for Money (VFM) Audit

   The Value for Money (VFM) Auditor

Module 2

The Audit Function 

   Purpose & Types of Audit

   The Roles & Procedures within the Internal Audit Department

   Audit Preparation and Planning to Ensure an Effective Audit

   Audit Testing / Sampling to Verify Accounts and Controls

   Communicating Audit Findings & Audit Reviews

Module 3

Initiating and Planning the VFM Audit

   The Procedures of Value for Money Audit

   A Risk-based Approach to Value for Money (VFM) Audit: A Model Framework

   The Key Steps in the Value for Money (VFM) Auditing Cycle

   Special Planning Considerations for Value for Money (VFM) Audit

   Value for Money (VFM) Audit and KPIs

   Obstacles to the Conduct of Value for Money Audit

Module 4

Executing the Value for Money (VFM) Audit

   Conducting the Value for Money (VFM) Audit

   Working with others during the Value for Money (VFM) Audit

   Setting and Assigning Value for Money (VFM) Audit Metrics

   Process of the Data Collection Process

   Analyzing Data and Extracting Conclusions

   Management Controls and Value for Money Audit

Module 5

Reporting the Value for Money (VFM) Audit

   Documenting the Value for Money (VFM) Audit

   Quality Assurance of the Results

   Producing Value for Money (VFM) Audit Reports

   Distributing a Value for Money (VFM) Audit Report and the Impact

   Case Study & Discussion



   This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.

   Training manuals and additional reference materials are provided to the participants.

   Upon successful completion of this course, participants will be issued with a certificate.

   We can also do this as tailor-made course to meet organization-wide needs. Contact us to find out more:

   The training will be conducted at DATA-AFRIQUE TRAINING CENTRE, Nairobi Kenya.

   The training fee covers tuition fees, training materials, lunch and training venue. Accommodation and airport transfer are arranged for our participants upon request.

   Payment should be sent to our bank account before start of training and proof of payment sent to:

Our 2022 Group Rates (in USD)

# of Days
Group #
1. 1 1000.00 2000.00
2. 2 - 10 800.00 1,600.00
3. 11 - 20 750.00 1,500.00
4. 21 - 30 700.00 1,400.00
5. 32 - 40 650.00 1,300.00
6. 41 - 50 600.00 1,200.00
7. 51 > Above 500.00 1000.00