ICAI’s approach to effectiveness and value for money
This review of effectiveness and value for money sets out ICAI’s approach to defining these concepts in the context of international aid.
Summary
Taxpayers have the right to expect that the aid budget not only maximises impact but also delivers value for money. Effectiveness and value for money sets out ICAI’s approach to defining these concepts in the context of international aid.
The role of the Independent Commission for Aid Impact (ICAI) is to report to Parliament on whether UK aid is maximising impact for intended beneficiaries and achieving value for money (VFM) for UK taxpayers. Both intended beneficiaries and UK taxpayers should have confidence that aid programmes are having a lasting, positive impact and that funds are not being wasted or even having a negative effect.
This report explains how we approach this task, specifically setting out what we mean by effectiveness and value for money.