State Audit of Vietnam works to complete 2020 plan

As the Chair of the Asian Organisation of Supreme Audit Institution (ASOSAI) for the 2018-2021 term, the State Audit of Vietnam (SAV) has strived to implement its audit plan for 2020 despite formidable challenges caused by the COVID-19 pandemic.

The audit sector makes every effort to carry out its audit plan, making contributions to strengthening the national finance.

As a wide range of the SAV’s activities were hampered by the coronavirus outbreak, the SAV has to adjust its foreign affairs plan for 2020, including the ASOSAI Chair’s activities.

It joined hands with the National Audit Office of China – the Secretary General of ASOSAI, and members of the ASOSAI Governing Board to make preparation for the Governing Board’s online meeting on July 27.

The SAV also sharpened focus on the implementation of commitments under the Hanoi Declaration, which was considered to be among the most notable outcomes of the 14th ASOSAI. The move will help it increase prestige and influence at global and regional forums.

At the 55th Governing Board meeting of the ASOSAI held in the form of a teleconference on July 27, the SAV proposed an audit on water resources in the Mekong River basin be conducted by the agency, called “ASOSAI’s cooperative environmental audit in Southeast Asia in the 2020-2021 period”.

A parallel audit on water issues in the river basin was successfully carried out with the participation of five Supreme Audit Institutions (SAIs) of Thailand, Cambodia, Laos, Myanmar and Vietnam, with technical assistance from the German Development Cooperation.

Audit results show that, at the national level, the system of policies and laws and compliance with policies and laws on water resources management in general and water resources management in the Mekong River basin in particular still bear limitations, leading to the unreasonable exploitation and use of water, absence of planning, and increases in water pollution.

The success of the audit provided valuable lessons on the efficient and sustainable use and management of water resources, especially water resources flowing through the territories of many countries, for ASOSAI members in general and SAIs in Southeast Asia in particular, thus reducing negative impacts on the environment and the social security of residents in relevant areas.

In the first half of 2020, the SAV represented the ASOSAI to attend two online technical-level meetings on building strategic plan of the International Organisation of Supreme Audit Institutions (INTOSAI), and gave opinions on orientation of the ASOSAI’s strategies, plans to build strategic plans, and survey of SAIs’ information.

The SAV’s initiative to set up a special committee, which is responsible for studying the establishment of an ASOSAI’s working group to carry out sustainable development goals of the state audits, was said as a pioneer recommendation in the INTOSAI.

Its documentary film “ASOSAI for sustainable development”, to be screened at the 15th Assembly of ASOSAI in Thailand next year, received enthusiastic support from members of the ASOSAI’s Governing Board. The film aims to popularise and acknowledge ASOSAI’s contributions to promoting and realising sustainable development goals under the Hanoi Declaration.

The ASOSAI founded in 1979, pursues a common mission like other working groups of the INTOSAI, that is “Professional supreme audit institutions promote good State governance” and with the core values of “Professionalism, Cooperation, Equality, Creativity”.

The ASOSAI’s goal is to promote mutual understanding and cooperation among member SAIs through the exchange of ideas and experience in public auditing, creating favourable conditions for the training of State auditors to improve working quality and efficiency.

The State Audit Office of Vietnam (SAV) became a member of ASOSAI in 1997. In the first period of the membership, the SAV mainly sent auditors to attend training courses and workshops sponsored by ASOSAI to enhance professional capacity. Since 2010, the SAV has undertaken a more active role in professional activities of ASOSAI.

Source: VNA
vov.vn

Related News

Promoting Vietnam-Laos Customs cooperation

Promoting Vietnam-Laos Customs cooperation

VCN - On November 19, 2024, in Hanoi, Vietnam Customs held the Vietnam - Laos Customs Directors General Conference.
Vietnam’s exports to the U.S. near US$100 billion milestone

Vietnam’s exports to the U.S. near US$100 billion milestone

VCN - By the end of October, Vietnam's exports to the United States approached US$100 billion, reaffirming its position as Vietnam's largest export market.
U.S. Treasury continues to affirm Vietnam does not manipulate currency

U.S. Treasury continues to affirm Vietnam does not manipulate currency

VCN - In its latest report, the U.S. Department of the Treasury has positively assessed Vietnam's monetary policy, reaffirming that Vietnam does not engage in currency manipulation.
Vietnamese passion fruit gets “great opportunities” to Australia

Vietnamese passion fruit gets “great opportunities” to Australia

VCN - Vietnamese passion fruit having been exported to twenty countries, in many forms such as fresh fruit, frozen fruit, juice, recently Vietnamese passion fruit continues to be licensed to export to the Australian market. Thus, after mango, longan, lychee, dragon fruit, passion fruit is the 5th product of Vietnam licensed to export to the Australian market.

Latest News

Banks increase non-interest revenue

Banks increase non-interest revenue

VCN - Slow credit demand and fierce competition have forced banks to seek ways to increase non-interest revenue, especially when there is a lot of support from the digital transformation of the entire banking system.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN – In order to achieve goal of strictly managing public debt and maintaining security and safety of the national financial system in 2025, it is necessary to ensure the borrowings and repayments of public debts is within the approved estimate; closely monitor public debt indicators to ensure that they are within the ceiling and warning thresholds approved by the National Assembly.

More News

Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

VCN - On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws. Concluding the session, Vice Chairman of the National Assembly Nguyen Duc Hai emphasized the need for the Government to direct the drafting body and relevant agencies to collaborate closely to finalize a persuasive and widely supported report, ensuring the quality of the draft law for the National Assembly's consideration and decision.
Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

VCN - According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.
State-owned securities company trails competitors

State-owned securities company trails competitors

Contrary to the outstanding performances in the banking sector, the securities subsidiaries of major banks have yet to fully leverage their potential, despite numerous inherent advantages.
Strengthening the financial “health” of state-owned enterprises

Strengthening the financial “health” of state-owned enterprises

VCN - The state economy plays a key role in the socio-economic development process, but it is necessary to strengthen the financial health and competitiveness of state-owned enterprises (SOEs).
Exchange rate fluctuations bring huge profits to many banks

Exchange rate fluctuations bring huge profits to many banks

Net profits from the foreign exchange trading segment of many banks have gained positive results thanks to a strong USD/VNĐ exchange rate fluctuations this year.
A “picture” of bank profits in the first nine months of 2024

A “picture” of bank profits in the first nine months of 2024

VCN - Pre-tax profits for banks during the first nine months of 2024 remained positive, exceeding 200 trillion VND, solidifying the sector's position as a market leader.
Many challenges in restructuring public finance

Many challenges in restructuring public finance

VCN - Restructuring public finance is an important step to improve state financial management, ensure resources are allocated reasonably and effectively, contributing to the country's sustainable development. In addition to the achieved results, the process of accelerating public finance restructuring also faces many pressures.
Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs

VCN - E-commerce platforms that declare and pay taxes on behalf of traders not only help to reduce the number of tax declaration points but also reduce the cost of compliance with administrative procedures for the whole society because only one point as the e-commerce trading platform implements tax deduction, payment and declaration on behalf of tens, hundreds of thousands of individuals and business households on the platform.
Disbursement of public investment must be accelerated: Deputy PM

Disbursement of public investment must be accelerated: Deputy PM

Deputy Prime Minister Ho Duc Phoc has called on ministries, agencies, and localities to accelerate the disbursement of public investment from now until the year-end and further tighten investment management.
Read More

Your care

Latest Most read
Banks increase non-interest revenue

Banks increase non-interest revenue

VCN - In the first 9 months of 2024, the group of banks leading in profit has focused on increasing the ratio of non-term deposits (CASA) to help reduce operating costs, resulting in positive credit growth.
Monetary policy forecast unlikely to loosen further

Monetary policy forecast unlikely to loosen further

It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
World Bank outlines path for Vietnam to reach high income status

World Bank outlines path for Vietnam to reach high income status

The World Bank (WB) has released a report which explores how Vietnam can upgrade its participation in global value chains to become a high-income country by 2045.
Strictly control public debt and ensure national financial security  2025

Strictly control public debt and ensure national financial security 2025

VCN - According to the plan for borrowing and repaying public debt and foreign debt of the country in 2025, the total borrowing demand of the Government in the year is expected to be at VND 815,238 billion, an increase of 20.6% compared to the Government'
Revising the title of a draft of 1 Law amending seven finance-related laws

Revising the title of a draft of 1 Law amending seven finance-related laws

On November 19, 2024, the Standing Committee of the National Assembly (SCNA) discussed amendments and refinements to the draft of a law revising seven existing finance-related laws.
Mobile Version