Strengthening capacity of accounting and auditing management and supervision agencies in the strategy to 2030 in Vietnam
What are regulations on strengthening capacity of accounting and auditing management and supervision agencies in the strategy to 2030 in Vietnam? What is development of accounting - auditing service market in the accounting - auditing strategy until 2030 in Vietnam?
Please advise.
Strengthening capacity of accounting and auditing management and supervision agencies in the strategy to 2030 in Vietnam
Pursuant to Subsection 3, Section IV of Decision 633/QD-TTg of 2022 stipulates:
3. Strengthen the capacity of accounting and auditing management and supervision agencies and the effectiveness of inspection and supervision of compliance with accounting and auditing laws as follows:
a) Have appropriate solutions to attract high-quality personnel to perform well and effectively the management and supervision tasks of accounting and auditing. Research international experience and implement appropriate plans to organize activities according to the model of consulting and consulting on accounting and auditing, in order to make decisions in accordance with international practices and Vietnamese laws and the unit's practice.
b) Innovate and effectively deploy the content, methods and conditions for managing and supervising accounting and auditing activities. Strengthen coordination with agencies and units that have the functions of inspecting and supervising financial reports and compliance with accounting and auditing laws. Coordinate with professional organizations, training facilities and a team of experts with practical experience in accounting - auditing practice to enhance professional training in accounting - auditing and foreign languages, skills in checking and monitoring financial reports, compliance with accounting and auditing laws.
c) Based on functions and tasks, ensure human resources to monitor compliance with legal regulations on accounting and auditing of enterprises and organizations in the state sector and corporate sector. Pay attention to mechanisms to monitor compliance with accounting standards of listed companies and other public interest companies. Ensure conditions to improve the efficiency of management and supervision of the accounting and auditing service market; Strictly handle cases of violation of accounting - auditing standards and professional ethical standards according to the provisions of law.
d) Specify the responsibilities and obligations of businesses, accounting units and individuals in enhancing openness and transparency of financial situations, ensuring equal rights in accessing information of investors and stakeholders for financial statements and other financial information.
d) Strengthen inspection and supervision activities of compliance with legal regulations and professional standards of businesses and accounting units; businesses providing accounting and auditing services; the organization of information systems and the use of software to serve accounting and auditing work at businesses, accounting units and businesses providing accounting and auditing services. Effectively implement publicity and transparency of economic and financial information of businesses, accounting units, agencies and economic organizations; which is noted for units with public interests.
e) Strengthen inspection and guidance on organizing and effectively implementing internal audit activities at enterprises, People's Committees of provinces and centrally-run cities, ministries, ministerial-level agencies, Government agencies and large-scale public service units according to Government regulations and guidance from the Ministry of Finance.
Strengthening capacity of accounting and auditing management and supervision agencies in the strategy to 2030 in Vietnam (Image from the Internet)
What is development of accounting - auditing service market in the accounting - auditing strategy until 2030 in Vietnam?
Pursuant to Subsection 4, Section IV, Decision 633/QD-TTg of 2022 stipulates:
4. Develop the accounting and auditing service market
a) Research and determine appropriate subjects that must independently audit financial statements; clearly stipulate criteria for businesses to have their annual financial statements audited and to make financial and accounting information transparent in order to improve requirements, service quality, and effectiveness in disclosure and transparency of economic and financial activities.
b) Determine criteria for public interest entities in the direction of adding necessary subjects, along with stricter and more effective financial reporting disclosure and transparency requirements to ensure public interests and the overall sustainable development of the economy. Research and identify the subjects to audit annual financial statements as large-scale public service units, especially public service units that are autonomous in both investment and recurrent expenditures, the public service position is autonomous in terms of recurrent expenditure.
c) Develop orientation criteria for the scale, quantity and quality of services of auditing firms and accounting service enterprises in accordance with practical requirements, through perfecting the mechanism and conditions for practice; increase the quantity and quality of the team of accountants and auditors; Effectively implement solutions for service supply to improve the quality of accounting and auditing services.
d) Complete and implement legal regulations, creating the basis and conditions for negotiating, participating in international agreements and mutual recognition of accounting - auditing services with other countries in the region and around the world.
d) Implement solutions to improve the quality of valuation services and other services; Build an information system and database as a basis for determining financial indicators.
Best regards!
