Joining TPP & AEC - Opportunities and Challenges for Vietnam Accounting and Auditing

 

At the conference, Dr Dang Thai Hung, Director of the Department for Accounting and Auditing under the Ministry of Finance, stressed the integration roadmap of Vietnam's accounting and auditing industry, including the adoption of amended Law on Accounting on November 20, 2015 and the implementation of AEC commitments of the Ministry of Finance. The accounting and auditing sector is playing an increasingly important role in maintaining economic sustainability and meeting ever-changing business environment. Vietnam needs to urgently improve human resources for accounting and auditing sector in order to satisfy international auditing and accounting standards.

 

Dr Dang Van Thanh, VAA Chairman, spoke of roles of domestic and international accounting and auditing organisations and what the sector needs to change to meet new requirements like professionalism and social responsibility, professional capacity, and on professional ethics. Dr Luong Hoang Thai shared practical contents and impacts of TPP on Vietnam.

 

To successfully implement FTAs, international agreements and the amended Accounting Law, information and communication on consistent implementation guidance from the Ministry of Finance, the Ministry of Industry and Trade and relevant as well as efforts of the business community and business associations is essential. ACCA is committed to partnering with professional associations, authorised agencies, accounting professionals, financial audits and other partners in Vietnam to enhance understanding, overcome challenges and grasp the opportunities that TPP and AEC bring for Vietnam’s development.