ACCA and VACPA strengthen long-term partnership

Wednesday, Aug 31, 2022 15:51

The Viet Nam Association of Certified Public Accountants (VACPA) and the Association of Chartered Certified Accountants (ACCA) signed the MoU extension. — Photo courtesy of the firm

The Viet Nam Association of Certified Public Accountants (VACPA) and the Association of Chartered Certified Accountants (ACCA) extended the Memorandum of Understanding, closely and effectively co-ordinating through training activities and improving knowledge for members for the next five years.

ACCA and VACPA signed an initial MoU in 2005, renewable every five years. The two sides have co-ordinated activities with the common goal to contribute to the development of the accounting, auditing and finance industry in Viet Nam, raising public awareness on the value and role of the accounting and auditing profession.

They also co-operated with educational and training institutions across Viet Nam to support research and teaching activities, and contribute to the development of a stronger accounting and auditing profession in Viet Nam by developing high quality accounting and auditing human resources to meet requirements of the business community.

Furthermore, in 2018, in order to co-ordinate and plan to accelerate and meet the needs of applying international standards in Viet Nam, VACPA and ACCA signed and implemented the International Financial Reporting Standards (IFRS) to support the Ministry of Finance in implementing the roadmap to apply IFRS and update Vietnamese accounting standards in the coming years.

Speaking at the signing ceremony, Helend Brand – Chief Executive, ACCA Global said: “We at ACCA are so pleased that we could play a part in that growing strength, and it has been an honour to serve alongside you at every step of the way. Today’s ceremony and signing is a firm statement that this valuable link is stronger than ever, and it will extend for long into the future.”

Tran Khanh Lam, Vice President and Secretary General of VACPA, said: “Since its establishment in 2005, VACPA has always recognised the importance of establishing relationships and promoting bilateral cooperation with ACCA for knowledge sharing and synergised contribution to the development of the accounting profession.”

ACCA is the first organisation that VACPA has chosen to cooperate and learn from, together supporting and contributing to the development of accounting, auditing and finance professions in Viet Nam.

Ren Varma, ACCA Regional Director for Southeast Asia said: “Working closely with VACPA – Viet Nam's leading professional organisation is very important to ACCA. With the MoU’s extension, we expect to open a new chapter of closer and more effective co-operation between the two parties, in order to improve the competitiveness of the Vietnamese accounting and auditing industry in the context of the economy increasingly integrating with the world.” — VNS

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