ACCA Contributes to Auditing Human Resources Development in Vietnam

ACCA Contributes to Auditing Human Resources Development in Vietnam  

During its operation in Vietnam, the Association of Chartered Certified Accountants (ACCA) has made significant contributions to helping Vietnam adopt accounting and auditing standards meeting international standards in these fields. In particular, the association has provided great support for Vietnam to improve the quality of its accounting and auditing staff. ViB Forum interviewed Nguyen Phuong Mai, head of ACCA’s representative office in Vietnam.

What do you think of the quality of Vietnamese auditors? How will they meet the demand of international economic integration?

Vietnamese auditors have good skills, with many Vietnamese youngsters being assigned to important posts at multinational corporations and large auditing firms. However, because Vietnam’s auditing remains immature, Vietnam has few auditors yet qualified to meet the requirements of global integration. This is due to the fact that many auditors have not had the experience of working in a professional environment at a regional or international level.

To overcome these constraints, auditors should take full advantage of opportunities to improve their knowledge about the international professional environment. They can improve their knowledge via short-term training courses, information on the Internet and professional seminars and symposiums.    

What do you think about the demand for auditors in Vietnam now and in the future?

The demand for auditors in Vietnam now and in the future is very high. Vietnam’s rapid development and accession to the World Trade Organisation (WTO) will lead to a high demand for internationally qualified auditors who can produce trustworthy and transparent financial reports for investors and business people. Financial reports must be transparent and precise, so we can develop a ‘strong’ economy. To that end, qualified auditors are needed. 

What support has ACCA provided to help Vietnamese auditors improve their knowledge and skills, as well as to help improve the overall quality of accounting and auditing human resources in Vietnam?

Recently, the Ministry of Finance of Vietnam signed an agreement with ACCA in organising examinations for Vietnamese and international auditors. This means that the pathway to professional certification has become easier for Vietnamese accountants. These examinations will use programmes of ACCA but the Ministry of Finance will recognise and allow ACCA members to receive certificates for Vietnamese auditors after they qualify for the certificate for international auditors.  

Also, ACCA will aid the development of the Vietnam Accounting Association as an independent business association, operating according to policies of the Ministry of Finance. Early this year, ACCA joined a seminar held by the Ministry of Finance and the Vietnam Accounting Association within a World Bank-sponsored project on building financial capacity.

ACCA committed to help the Vietnam Accounting Association build its association with and provide support for universities and colleges in training future accountants and auditors. In 2003 and 2004, ACCA presented books and professional documents to the libraries of the Auditing and Accounting Departments of the Hanoi National Economics University and the Academy of Finance. The programme will continue in 2005 and expand to the Ho Chi Minh City Economics University.

Furthermore, to encourage students in accounting and auditing departments of universities and colleges, this September, ACCA presented scholarships to ten excellent students of the 43^rd intake of the Department of Accounting and Auditing of the Hanoi National Economics University. This activity will also be expanded to the Ho Chi Minh City Economics University in 2005.

What do you think is the most difficult requirement for those who wish to obtain certification from ACCA?

To obtain a globally recognised certificate such as the ACCA’s, trainees will have to make intensive efforts. ACCA examinations are very difficult. The three-stage examination process comprising 14 subjects is quite a challenge in discipline and dedication. Good English skills are also an essential requirement as ACCA examinations are conducted in English. Furthermore, the timeframe for undertaking these examinations is fixed worldwide, so this will be a challenge for Vietnamese auditors. 

Can you tell about the opportunities for those who obtain ACCA certification?

There are various opportunities for those who receive ACCA certification. With ACCA certificates, members can apply their knowledge in many fields. Many managers of leading companies in Vietnam and around the world are members of ACCA.

• Reported by Doan Phuong