This report sets out ICAI's approach to defining effectiveness and value for money in the context of international aid. With a strong focus on the impact for intended beneficiaries and the robustness of delivery approaches, the report establishes a set of guiding criteria for whether aid is fit for purpose and being used to tackle the most important issues.
ICAI’s view is that effectiveness and value for money are inextricably linked: how can a programme be value for money if it is not effective; and if there is poor value for money, is the programme being as effective as it could be? In their view: effectiveness involves achieving a sustained impact for intended beneficiaries; and value for money is the best use of resources to deliver the desired impact.