1:37:50 PM | 4/30/2023
Vietnam's independent auditing industry debuted in 1991 with two accounting-auditing firms established by the Ministry of Finance, including the former Auditing and Accounting Financial Consultancy Service Company, which is today’s AASC Auditing Firm Co., Ltd. AASC is clearly an important factor in turning independent auditing from an unprecedented type in Vietnam into an asserted indispensable service for improving the quality of corporate governance. According to Mr. Ngo Duc Doan, Chairman of Board of Members of AASC, people are eager for AASC to develop on par with world-class auditing firms.
The Board of Members of AASC
After nearly 32 years of operation and 16 years of the new operation model of AASC, what are your concerns about AASC and the independent audit industry?
The former Auditing and Accounting Financial Consultancy Service Company of the Ministry of Finance, which is the current AASC Auditing Firm Co., Ltd, is one of the two first Vietnamese auditing firms established in Vietnam. Born with the viewpoint of integration with Vietnamese identity, AASC's leadership steadfastly "built up a Vietnamese audit firm" from local internal resources. Without any clear advantage at its establishment, but with the consensus of AASC staff, ASSC, which is located at 1 Le Phung Hieu Street, Hanoi, has taken firm development steps.
Economic volatility and deepening digital transformation are challenging the international integration of auditing in Vietnam. Therefore, the long-term vitality of AASC and its aspirations for Vietnamese distinctive auditing reputation are always our concerns.
What do you think about the current auditing industry?
In the context of international integration, information provision helps build a strong market and economy, assisted by increasingly important accounting and auditing. The ongoing Fourth Industrial Revolution will have a strong impact on all fields, including auditing and valuation. Currently, the auditing profession is also changing and transforming. Vietnamese auditing standards have kept improving. Auditors in Vietnam are growing in number and quality. However, in the face of new circumstances, especially in order to successfully achieve the objectives of the Accounting-Auditing Strategy to 2030 according to Decision 633/QD-TTg dated May 23, 2022 of the Government, I think it is necessary to synchronously deploy many solutions in the coming time, with humans being as an important factor.
How is this factor aligned with the corporate culture that AASC is pursuing?
At AASC, people are the most valuable asset determining success and development. Each person will always have a clear perception and positive attitude toward common goals, work wholeheartedly without pursuing personal interests, show sympathy and sharing, protect the legitimate interests of clients, of the Firm and of the auditing industry.
To perform intensive integration, building corporate culture is perhaps one of the factors contributing to the success of a market-leading firm as it is today. With AASC, we focus on training and fostering human resources in professional and specialized fields, especially cultivating professional ethics and inspiring employees with our commitment to implementing the standard system of professional conduct. In 2013, AASC's Code of Conduct named "Cultural Handbook'' was first released to shape individual behaviors toward business philosophy; preserve and promote the core values that AASC has worked hard to cultivate, based on five pillars of "Transparency - Independence - Awareness - Trust - Sustainability''. AASC is committed to "Honesty - Prestige'' and "Full Affection and True Gratitude" in order to cultivate and train AASC people and develop the Firm sustainably.
In my opinion, corporate culture is stronger than any KPI or specific management regulations for the management apparatus to work smoothly and perfectly. This is also the internal strength that many partners and modern business managers in the world consider to be a factor that will take the business further.
In 2022, VCCI reportedly announced the Vietnam Code of Entrepreneurial Ethics and launched it in the business community. Surely in the coming time, AASC will accompany VCCI to develop and humanize the entrepreneurial culture to become an indispensable part of the business environment.
Thank you very much!
Bao Ngoc (Vietnam Business Forum)
Vietnamese
