Value for Money
The University of Reading recognises its responsibility to achieve value for money (VFM) in all its activities, regardless of their source of funding. The University is committed to the pursuit of economy, efficiency and effectiveness within its overall corporate and academic strategy. The University will seek, wherever possible, to adopt best practice and to incorporate VFM principles in all its activities.
Further information on University's VFM arrangements is available from the University VFM webpages
Internal Audit Responsibilities
During all audit reviews Internal Audit Services considers value for money issues and will identify and report on any areas which may offer improvements.
We provide an opinion to the Audit Committee, Council and the Office for Students, in accordance with the requirements set out in section 69 of Regulatory Notice 2: ‘Annual report of the internal auditor- to provide assurance over the adequacy and effectiveness of arrangements for:
- Risk management, control, and governance
- Economy, efficiency; and effectiveness (value for money)’.