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Home > About us > What we do > Value for Money Audit > The VFM study cycle

The VFM study cycle

 

This section sets out the critical stages in the life of a VFM study.  This cycle applies to all studies, with the exception of a small number for which the Committee of Public Accounts (PAC) decides not to have a hearing.

 

In summary, the Comptroller and Auditor General decides what subjects to examine, auditors carry out their work and draft a report, which is published and presented to the House of Commons. The PAC uses the report as the basis for a hearing. The Committee publishes its own report and the Government responds formally to say what it will do to implement the Committee’s recommendations.