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Auditing Public Value Strategy: Lessons From Wales

Richard Baylis, Martin Kitchener, Dennis De Widt

Public Value Accounting: Current Issues and Future Trends

Swansea University Author: Richard Baylis

Abstract

While some public organizations with strategies to create public value (PV) are using approaches such integrated reporting to account for their socially-valuable innovation, most public audit regimes continue to focus on organizational outcomes such as efficiency and effectiveness. Because this situ...

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Published in: Public Value Accounting: Current Issues and Future Trends
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URI: https://cronfa.swan.ac.uk/Record/cronfa69089
first_indexed 2025-03-13T10:52:09Z
last_indexed 2025-04-24T06:19:44Z
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spelling 2025-04-23T15:05:39.3360289 v2 69089 2025-03-13 Auditing Public Value Strategy: Lessons From Wales 94b4f1c7033b10801cd7696329c5d15d Richard Baylis Richard Baylis true false 2025-03-13 While some public organizations with strategies to create public value (PV) are using approaches such integrated reporting to account for their socially-valuable innovation, most public audit regimes continue to focus on organizational outcomes such as efficiency and effectiveness. Because this situation necessitates a profound rethinking of the discourse and practices of public audit, this chapter presents a study of developments in Wales; the first country to revise its public audit system in response to legislation that requires public bodies to enact strategies that focus on creating a form public value (sustainable development). This chapter extends to the realm of public audit, an analytical framework of four types of work required to develop PV accounting systems (philosophical, political, managerial, and technical). Our findings show how leaders at the Welsh national audit body worked with stakeholders to conceive six principles of PV strategy audit that include consultation, reflexivity, and piloting. Their political work of audit development involved acting as ‘small-scale statemen’ to build a broad and stable agreement around their philosophy of PV audit. At the same time, the audit managers worked hard to maintain the independence of the public audit function by ensuring that activity was carried out under the governing code of practice. This finding signals an issue that will require careful management in other contexts where PV strategy audit is developed. Overall, this chapter extends audit scholarship to provide a step forward in reimagining and illustrating how public audit can be updated to account for PV strategy. Book chapter Public Value Accounting: Current Issues and Future Trends 0 0 0 0001-01-01 COLLEGE NANME COLLEGE CODE Swansea University Not Required 2025-04-23T15:05:39.3360289 2025-03-13T10:30:55.9165430 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Richard Baylis 1 Martin Kitchener 2 Dennis De Widt 3
title Auditing Public Value Strategy: Lessons From Wales
spellingShingle Auditing Public Value Strategy: Lessons From Wales
Richard Baylis
title_short Auditing Public Value Strategy: Lessons From Wales
title_full Auditing Public Value Strategy: Lessons From Wales
title_fullStr Auditing Public Value Strategy: Lessons From Wales
title_full_unstemmed Auditing Public Value Strategy: Lessons From Wales
title_sort Auditing Public Value Strategy: Lessons From Wales
author_id_str_mv 94b4f1c7033b10801cd7696329c5d15d
author_id_fullname_str_mv 94b4f1c7033b10801cd7696329c5d15d_***_Richard Baylis
author Richard Baylis
author2 Richard Baylis
Martin Kitchener
Dennis De Widt
format Book chapter
container_title Public Value Accounting: Current Issues and Future Trends
institution Swansea University
college_str Faculty of Humanities and Social Sciences
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hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
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description While some public organizations with strategies to create public value (PV) are using approaches such integrated reporting to account for their socially-valuable innovation, most public audit regimes continue to focus on organizational outcomes such as efficiency and effectiveness. Because this situation necessitates a profound rethinking of the discourse and practices of public audit, this chapter presents a study of developments in Wales; the first country to revise its public audit system in response to legislation that requires public bodies to enact strategies that focus on creating a form public value (sustainable development). This chapter extends to the realm of public audit, an analytical framework of four types of work required to develop PV accounting systems (philosophical, political, managerial, and technical). Our findings show how leaders at the Welsh national audit body worked with stakeholders to conceive six principles of PV strategy audit that include consultation, reflexivity, and piloting. Their political work of audit development involved acting as ‘small-scale statemen’ to build a broad and stable agreement around their philosophy of PV audit. At the same time, the audit managers worked hard to maintain the independence of the public audit function by ensuring that activity was carried out under the governing code of practice. This finding signals an issue that will require careful management in other contexts where PV strategy audit is developed. Overall, this chapter extends audit scholarship to provide a step forward in reimagining and illustrating how public audit can be updated to account for PV strategy.
published_date 0001-01-01T05:27:16Z
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