That is a rather new roadmap in Vietnam, when professional Association and Union of Associations are usually entitled with the function of consultancy and integration, up to now.

The recent decision of the Finance Ministry had confirmed that until January 1^st 2007, the aforesaid roadmap shall be completed. Since end July 2006, the Ministry had an Official Note for detailed guidance on this roadmap, just in time of recapitulating 15 years’ independent auditing activities in Vietnam.

As per the a.m official note, the Vietnam Association of Auditors shall be permitted to organise the professional training in accounting, auditing and unified management for the list of auditors, the list of auditing enterprises, to control/monitor the activities of enterprises, individuals exercising the profession according to regulations of the law.

The Vietnam Association of Auditors is also entitled of the same rights, tasks vis a` vis accounting activities.

Mr. Bui Van Mai, Director of the Department for Accounting and Auditing Regime, Chairman of the Auditors’ Association, assessed that this is an important direction, creating conditions for Vietnam auditing branch to develop in conformity with the integration roadmap, as well as for further rising the position, the role of professional organisations in both fields.

Mr. Mai disclosed that at this point of time, in the whole country, there are 108 auditing companies from all economic sectors. This is an impressive figure, while previously, it was envisaged that until 2010 there will be only about 100 companies. The number of professional employees in accounting, auditing companies had been over 3,000.

“Previously, the Finance Ministry had to directly organise the recruitment competition and training. Now, this function had been transferred to the Association, so the broader initiative will be more favourable on human resource and quality”, Mr. Mai acknowledged.

And Mr. Ha Ngoc Son, Chairman of Vietnam Association of Accounting and Auditing, stressed that “for developing the special profession, there is a need of joint effort between the State and the Association. We consider that it is a big and new challenge with many difficulties. But it is also an opportunity/environment for Association to rapidly stretch out for becoming a genuine professional association in conformity with international practice.

According to assessment by many insiders, when there is the transfer of some parts of work in the state management function from the Finance Ministry, the Vietnam Association of Accounting & Auditing could become a genuine professional association, despite having been set up since 12 years previously.

For the time being, both Vietnam Association of Auditors and Vietnam Association of Accounting & Auditing are actively preparing for reception of this transfer, of which the focal point being: training, awarding certificates of profession exercise, and managing the lists of enterprises, specialists as well as monitoring their activities.

Does the transfer of “power” cause negativeness?

Interview with Mr. Tran Van Ta, standing Vice Minister of Finance:

Reporter: “Sir, why it is until now that the ministry begins to implement the roadmap of this transfer, while VAA had started its activities since over ten years?

Mr. TVT: Truly speaking, VAA had operated during a time nearly equal to the activity duration of independent auditing in Vietnam. However, up to now, the Finance Ministry had to bear an overcharge of managing, training and monitoring activities of this domain. It was impossible to transfer earlier, due to the lack of necessary conditions on experiences, on development of the domain and of association for so doing. These conditions become more favourable with the presence of the Vietnam Association for Accounting and Auditing being set up only in some recent years.

This transfer is implemented according to international practice, and it is necessary and rational.

Reporter: But does this transfer of “power” easily cause negativeness?

Mr. TVT: Not at all. That had be and is done worldwide. It is expressed by the initiative in training and resources’ supply for indirectly creating the qualitative and quantitative development. The professional association being an organisation close to enterprises and individuals exercising the trade, so it is very convenient to be endowed with the right for control and monitoring.

Negativeness is unlikely to occur, because we do manage by law, by policy mechanisms. What I would like to say, to sincerely confide, is the responsibility of Association, of enterprises, of individuals must be always raised high, particularly the professional ethics – a very important factor and criterion in this domain.

Reporter: Best thanks to you.

Source: vneconomy.com.vn, 5/8/2006