22-Jul-2021 Intellasia |
VIR |
5:02 AM
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The Institute of Chartered Accountants in England and Wales (ICAEW) has just lately signed an MoU with the Accounting and Auditing Supervisory Division underneath Vietnam’s Ministry of Finance to collectively construct a long-term and tight partnership for the widespread aim of accelerating the standard of human sources and accelerating the event of Vietnam’s accounting and auditing points to come back on par with worldwide financial integration necessities.
The signing ceremony was held in Hanoi within the presence of deputy minister of Finance Ta Anh Tuan, British Ambassador to Vietnam Gareth Ward, chair of the British Chamber of Commerce Vietnam Christopher Jeffery, and leaders of the Vietnam Affiliation of Accountants and Auditors (VAA) and the Vietnam Affiliation of Licensed Public Accountants (VACPA).
Some of the essential cooperation contents within the MoU is that each events will contemplate the opportunity of mapping out a coaching programme for the certification of Worldwide Monetary Reporting Requirements (IFRS) in Vietnam.
As well as, the 2 events will periodically organise seminars and conferences to trade accounting and auditing information; collectively perform analysis tasks; share experiences, technical sources, and one of the best practices in accounting and auditing.
ICAEW groups up with Vietnam’s Ministry of Finance to deepen accounting and auditing experience
On the signing ceremony, deputy minister of Finance Ta Anh Tuan stated that one of many key targets of the Ministry of Finance (MoF) is to review the appliance of worldwide monetary assertion requirements for enterprises in Vietnam, with a view to enhancing the credibility and comparability of monetary corporations and the accountability of companies, creating a beautiful funding surroundings and facilitating Vietnam’s financial integration into the area and the world.
“I consider that the signing of the MoU between the Division of Accounting and Auditing Laws and the ICAEW will assist strengthen bilateral cooperation and create beneficial circumstances for the sharing of experience and expertise. The Ministry of Finance and I personally hope that the cooperation between Vietnam’s Ministry of Finance normally and the Division of Accounting and Auditing Laws particularly, and the ICAEW will ever be tighter and higher, benefiting each events and contributing to deepening the relations between Vietnam and the UK,” added Tuan.
Talking on the ceremony, British Ambassador to Vietnam Gareth Ward stated: “Lately, Vietnam and the UK signed a bilateral free commerce settlement, reflecting a strategic motion in financial partnership and integration. World-class and internationally recognised abilities and {qualifications} play an essential function for either side to achieve that worldwide integration.”
As a rustic on the forefront of the monetary sector, the UK is dedicated to working with Vietnam to additional develop the monetary {and professional} providers sector, particularly to foster the roadmap of making use of IFRS in Vietnam.
Previous to the signing of the MoU immediately, the MoF and the ICAEW had virtually 10 years of cooperation by means of occupational growth actions in Vietnam with the Division of Accounting and Auditing Laws, and the 2 associations underneath the Ministry of Finance the VAA and the VACPA.
Over the previous years,the ICAEW has coordinated with the Division of Accounting and Auditing Laws in organising many seminars on sizzling subjects in Vietnam, with the participation of worldwide specialists from Britain, together with the seminar on “Complying with new worldwide auditing requirements a problem to auditors”; the seminar on “Worldwide monetary assertion requirements challenges and expertise”; the roundtable on “The roadmap for formulating public accounting requirements worldwide expertise”; the roundtable on “Worldwide public accounting requirements authorities experiences”, amongst others.
The ICAEW is the primary and solely worldwide organisation in Vietnam to obtain funding from the British authorities by way of the British Embassy in Vietnam to hold out the venture to help the appliance of the IFRS in Vietnam in 2016 and 2017.
The ICAEW carefully collaborated with the Division of Accounting and Auditing Laws in finishing up and finishing the venture, which was assessed as one of the best venture applied in Vietnam in 2016 and 2017 with funding from the British authorities.
Particularly, the ICAEW petitioned the MoF for the roadmap on constructing and making use of the IFRS based mostly on the research carried out by the ICAEW in Europe after the IFRS had been adopted by the European Union’s member nations for 10 years.
The petition was accepted by the MoF in October 2016.The ICAEW then organised a five-day coaching course on the IFRS on the MoF headquarters in Hanoi, and an identical coaching course on the workplace of the HCM Metropolis Inventory Change in October 2016, with senior specialists from the US, who’re members of the ICAEW.
The programs helped prepare some 130 specialists and lecturers working within the finance-accounting side in Vietnam in step with the IFRS certification of the ICAEW. Additionally as a part of the venture, the ICAEW granted 200 accounts for studying the IFRS certification on-line to cadres, specialists, lecturers, and people working within the finance-accounting discipline.
https://vir.com.vn/icaew-teams-up-with-vietnams-ministry-of-finance-to-deepen-accounting-and-auditing-expertise-85869.html
Class: Enterprise, Vietnam
Article supply: https://www.intellasia.web/icaew-teams-up-with-vietnams-ministry-of-finance-to-deepen-accounting-and-auditing-expertise-936215