EFFECT OF VALUE FOR MONEY AUDIT ON SUSTAINABILITY OF UNIVERSAL REFORMED CHRISTIAN CHURCH

Abstract

This study assessed the effect of value for money audit (VfMA) on the sustainability of Universal Reformed Christian Church (URCC). It drew a sample of 31 representative sample elements from the research population using purposive and convenience techniques. These cut across representatives of accounting and audit staff of six institutions established by the Church. Responses were collected through structured questionnaires. Analysis of data was done using SPSS-aided multiple regressions, Version 23. Findings were that economy, efficiency and effectiveness had significant effect on economic (p<0.05, 0.0000, 0.0000 and 0.001 respectively) and social sustainability ((p<0.05 = 0.002, 0.000 and 0.000 respectively) of URCC. For environmental sustainability, however, only economy and efficiency were found to have significant effect (p = 0.003 and 0.01 respectively. Effectiveness had insignificant and negative effect (β = -0.180 and p = 0.185) Conclusion was thus made that VfMA has moderate effect on overall sustainability of URCC. The study makes recommendation for the Synod of URCC to make annual performance of VfMA by all her institutions, including consistories, mandatory in her constitution. The Church should also enhance the independence of her internal audit unit with adequate capacity building for more surveillance to ensure economy, efficiency and effectiveness of expenditure