What are tasks of strengthening and expanding international cooperation activities in the Accounting - Auditing Strategy until 2030 in Vietnam?

What are tasks of strengthening and expanding international cooperation activities in the Accounting - Auditing Strategy until 2030 in Vietnam?

Pursuant to Subsection 7, Section IV, Article 1 of Decision 633/QD-TTg in 2022 stipulating tasks of strengthening and expanding international cooperation activities in the Accounting - Auditing Strategy until 2030 in Vietnam as follows:

7. Strengthen and expand international cooperation activities

a) Strengthen relationships and enlist the help of international professional organizations in accounting - auditing and non-governmental organizations in researching and exchanging experiences in accounting - auditing; provide technical support to renew the professional management model of accounting - auditing as well as other professional techniques in accounting - auditing.

b) Study models of developed countries to apply in Vietnam in the organization and management of inspection and supervision of financial statements; construction and application of financial reporting standards; building accounting - auditing professional techniques; development of accounting - auditing services; complete the model of training, examination and certification of accountants and auditors.

c) Research and implement solutions to strongly promote accounting-audit integration; market of accounting - auditing services with countries in the region and the world.

d) Participate as an official member of forums on independent audit management in the region and the world. Participate in the development of international financial reporting standards and public accounting standards of the International Accounting Standards Boards. Continue to support professional organizations to fully fulfill their roles as members of the International Federation of Accountants (IFAC), ASEAN Association of Accountants (AFA) and members of the Asia-Pacific Accountants Association (CAPA).

What are regulations on application of information technology and other activities in the Strategy of Accounting - Auditing until 2030 in Vietnam?

Pursuant to Subsection 8, Section IV, Article 1 of Decision 633/QD-TTg in 2022 stipulating application of information technology and other activities in the Strategy of Accounting - Auditing until 2030 in Vietnam as follows:

8. Information technology application and other activities

a) About technology application

- Continue to review, reduce and simplify administrative procedures to create favorable conditions, save time and costs for businesses and accounting units; accounting-auditing service businesses and accounting-audit practitioners.

- Effectively apply development achievements of information technology, meeting the requirements of the digitization and digital transformation process in accounting - auditing activities at state agencies, enterprises, and accounting units .

b) About other activities

- Build a data system to serve the management and supervision of the accounting-audit service market; connecting information between management agencies, accounting-auditing supervision, securities market; ensure the transparent and timely disclosure of information to the market about the team of accounting and auditing firms as well as practicing accountants and auditors.

- Related units shall coordinate in organizing information systems and data on financial information of enterprises and accounting units serving data mining according to public services of organizations and individuals, ensuring that official information is used in economic relations and transactions.

- Organize the financial accounting apparatus at state accounting units in the direction of leanness and efficiency. Implement solutions to improve the quality of the preparation and presentation of state financial statements, improve the accountability of the units in the management and effectively use state assets and resources from central to local levels.

What are responsibilities of the Ministry of Finance of Vietnam in the Strategy of Accounting - Auditing until 2030?

Pursuant to Section V, Article 1 of Decision 633/QD-TTg in 2022 stipulating responsibilities of the Ministry of Finance of Vietnam in the Strategy of Accounting - Auditing until 2030 as follows:

1. Ministry of Finance

a) Issue the Strategy implementation plan according to the roadmap suitable to each specific period from 2021 - 2025 and 2026 - 2030; lead and organize the implementation of the Strategy implementation plan.

b) Allocate resources in accordance with the law to implement the Strategy. There are specific measures on human resources and other conditions to improve the capacity and efficiency of inspection and supervision of compliance with the law on accounting and auditing.

c) Guide and urge ministries, localities, agencies and units to develop and organize the implementation of activities related to the implementation of the Strategy in accordance with their assigned functions and tasks.

d) Assume the prime responsibility for, and coordinate with relevant ministries, localities, agencies and units in urging and inspecting the implementation of the Strategy; evaluate the results of the implementation of the Strategy.

Best regards!