Ministry of Finance expect to cooperate for a long time with ACCA

Scene at the meeting. Photo: TL

At the meeting, the Minister said that the accounting services and independent audit in Vietnam has 27 years of operation and has made significant progress as well as achieved important and encouraging results. Accounting and auditing are one of the most important tools that help to make financial markets transparent, increase public confidence and attract investment.

"This meeting is a good opportunity for us to listen to updated information on ACCA's activities and discuss issues related to professional activities and cooperation with the Ministry of Finance of Vietnam" , The Minister noted.

According to Minister Dinh Tien Dung, Vietnam is in the process of transforming its economy into a market economy. In that accounting and auditing is defined as a management tool that plays an important role, contributing to the transparency of financial information for business and investment.

In 2013, the Ministry of Finance and ACCA signed a cooperation agreement on the joint program of accounting and auditing. So far, this cooperation agreement has been continued. According to the Minister, the cooperation between the Ministry of Finance and ACCA has been diversified with many important career events. Typically, the contribution on drafting and guidance in the process of implementing the Law on Independent Auditing (2012); Accounting Law (2015); Strategic plan of Accounting and Auditing to 2020 and vision till 2030.

"I acknowledge and highly appreciate ACCA's contribution to the development of Vietnam's accounting and auditing activities recently," Minister Dinh Tien Dung shared at the meeting.

According to Leo Lee, ACCA is one of the largest and fastest-growing international accounting and auditing associations in the accounting and auditing industry with nearly 500,000 trainees and more than 200,000 members in 183 countries.

In Vietnam, ACCA has set up a representative office since 2002. Until now, ACCA has more than 7,000 students and 1,075 members in Vietnam. It demonstrates the rapid development of ACCA in Vietnam over the past 16 years. .

ACCA also assisted the Ministry of Finance in actively sharing international experience and capacity building on: International Financial Reporting Standards (IFRS); To guide the making of Government’s financial reports, to synthesize the financial reports of the current appropriation unit at level 1; Internal audit and supervision, improve the quality of auditing services.

Besides that, ACCA has many cooperative activities in Vietnam such as cooperating with the State Audit, universities, domestic and international professional associations to promote the development of the accounting profession with the expectation of achieving high recognition of society as the indispensable role of accounting auditors for the development of the economy.

At the meeting, Mr. Leo Lee affirmed that ACCA will continue to cooperate and support Vietnam in general and Ministry of Finance in particular on the issues related to auditing in the future.

On behalf of the Ministry of Finance, Minister Dinh Tien Dung also committed to facilitate to the development of professional accounting and international auditing organizations, including ACCA in Vietnam.