KPMG: Working Closely with Community Development

KPMG: Working Closely with Community Development

Can you please inform us of the social activities that KPMG has carried out in the Vietnamese community?

KPMG's global mission statement makes it clear that the firm's philosophy recognises the importance of contribution to the community. 

Since its establishment in 1994, KPMG has been actively involved in many social activities including making donations to charity, teaching English to poor children (in Can Gio Province) and donating computer equipment for recycling (to Saigon Children's Charity).  The firm also supports the Greeting Card Program of the Ho Chi Minh City Child Welfare Foundation by sponsoring the promotional brochure of the program, enabling the Foundation to promote itself to hundreds of Vietnamese and foreign organisations throughout the country.  Some activities involve the firm's employees, such as participation in the annual Cyclo Challenge, and the time donated by one of the Partner's of the firm (Warrick Cleine) as Chairman of the Ho Chi Minh City Child Welfare Foundation's "Project Future" committee.

We have been actively involved in raising awareness of the Vietnamese business community on the latest accounting and auditing techniques.  In this regard, we have regularly held training courses in cooperation with the Small and Medium Enterprise Association to train directors and managers. We have voluntarily gone to universities, such as the National Economics University and Thang Long University, to talk to students and advise them on their career choice.  What's more, we provided top students with internship opportunities to understand the industry. At the moment, we are developing an accounting course that we offer free at the Thang Long Technique School, a vocational training school in Hanoi.

With ten years experience in accounting and auditing, could you please tell us how the firm has assisted the Vietnamese Government in developing laws and regulations on accounting and auditing?

KPMG has made significant efforts in assisting the Ministry of Finance over the years to develop the accounting and auditing professions in Vietnam. The firm has wholeheartedly supported and brought international expertise and world-wide experience to help the Vietnamese government develop laws and regulations on accounting and auditing, and to make the Ministry of Finance establish advanced accounting standards compatible with International Financial Reporting Standards ("IFRS"). A set of advanced accounting standards will help Vietnam to meet various international commitments, attract foreign investment, develop the capital market and eventually build up Vietnam's image on the regional and international stage.

KPMG received a Recognition Award for contribution to the development cause of the financial, auditing and accounting profession of Vietnam.  The Award was granted by the Ministry of Finance on 14 October 2003 at the first National Accounting Conference to recognise KPMG's contributions to Vietnam since the establishment of the firm in 1994.

As far as we know, the firm is committed to helping Vietnam build a competitive business environment. Can you please inform us of KPMG's specific action plan?

We contribute to building a competitive business environment with our knowledge and experience.

KPMG's auditing and accounting services bring transparency and strong corporate governance to enterprises and other entities in Vietnam.

In addition to the core service of accounting and auditing, KPMG has a strong tax consulting and financial advisory service.  KPMG's tax consultants have helped hundreds of clients, mainly foreign invested enterprises, to understand and comply with the local tax and labour regulations. By understanding and complying with laws, KPMG's clients have built up their confidence in the investment climate in Vietnam. 

Meanwhile, KPMG's financial advisory service has undertaken many Technical Assistance Projects to assist the government in various fields, especially institutional capacity building and State-owned enterprise (SOE) reform processes. As supported by other KPMG offices in the region and around the globe, KPMG has been able to draw together resources of different skills required to successfully implement many large consulting projects.

In addition to the above, KPMG's international network has enabled the firm to actively promote Vietnam as a potential investment and trading destination.  This has included activities such as sponsoring Vietnamese officials to travel abroad to promote Vietnam's investment environment (most recently, the Ho Chi Minh City People's Committee investment promotion trip to Singapore and Thailand).  KPMG has also joined with the Ministry of Planning and Investment to hold investment seminars in Singapore and Malaysia, and has co-hosted major conferences for potential investors, including the landmark Vietnam Investment and Trade Conference in 2002.  KPMG is also a lead sponsor of the Vietnamese Investment Roundtable on July 6-7th, 2004.

Training and human resources is commonly considered one of the most important factors in establishing a firm's values. In your opinion, what fundamental factors create KPMG's values?

Knowledge and professional ethics are among the crucial elements of KPMG's business success in Vietnam.  To this end, KPMG sees its people as one of the greatest assets of the firm and has made significant investment in them. 

By way of example, all new employees in the audit department are given an opportunity to participate in the ACCA ("Association of Certified Chartered Accountants") training program from the United Kingdom, which takes an average three years to complete and costs the firm more than US$10,000 for each professional staff.  The firm has also supported local staff to take American CPA examinations or other training courses overseas to demonstrate that KPMG's staff can perform to international standards, which are considered necessary for their work and future development.

In addition to the external training, KPMG has organised many internal training courses.  On average, a KPMG professional receives at least 80 hours of Continuing Professional Education ("CPE").  The courses are designed to develop staff skills which cover both technical and interpersonal skills.

KPMG's international secondment program enables the firm to send staff to other KPMG offices for either a short or long term basis so that they can return to Vietnam with international working experience. International employees also work in Vietnam to learn about the country and to take valuable skills and experience back to their home countries.  To date, KPMG has sent a dozen of its staff to the UK, New Zealand, Australia, the US, Malaysia and Singapore.

Above all, KPMG believes that "on the job" training plays the most important role in developing people's professionalism.  By actively coaching and mentoring staff, and helping them develop clear career goals, KPMG staff have gained extensive experience from their daily work under the supervision of more experienced staff.

Improving the community's knowledge is also one of the most practical activities in supporting the development of the community and the society. After being awarded the "For Community Development" Gold cup, what will be KPMG's next actions?

We will continue to deliver our international expertise, experiences and knowledge of international practices to the community.  This will be carried out through our professional services and other activities, such as provision of free training courses on accounting, the release of a number of publications on international accounting standards, and sponsorship for university professors.n

• Reported by Kim Phuong