Viet Nam's recent integration into the ASEAN economic community will provide opportunities for Vietnamese businesses in all sectors, including the accounting and auditing profession.

Vietnam News speaks to Adam Awty, Chief Operating Officer – Commercial, CPA Australia, about these changes.

What do you hope to achieve during your visit to Vietnam?

Adam Awty, CPA's COO

This visit to Vietnam is an opportunity for CPA Australia to build on our already strong partnerships with key economic decision-makers, educators and employers in Vietnam, as part of our goal of developing accounting and business professionals of the highest calibre. CPA Australia is committed to strengthening the accounting and auditing profession in Vietnam. It is also a valuable opportunity for us to meet with our members and the broader CPA Australia family here in Vietnam.

How do the skills and capacity of Vietnamese accountants and auditors compare to their counterparts in the Asian region and the rest of the world?

Vietnamese accounting and finance graduates are as good as anywhere else in the world, and follow programs similar to those offered by universities in Australia, Singapore and China. The accounting and auditing industry in Vietnam has developed rapidly since its establishment in the 1990s. We are seeing great improvements in the technical skills of accountants and auditors in Vietnam and across the Asian region. In the coming years, there will be increased pressure for Vietnam to work towards the full adoption of IFRS. CPA Australia will continue to work with our strategic partners here in Vietnam to make sure that local accountants and auditors have the skills and capacity to meet future challenges.

What will the new ASEAN Economic Community (AEC) mean for the accounting and finance professions in Vietnam?

The ASEAN FTA 2015 is an exciting development for the South East Asian region, where the goal of regional economic integration for the ASEAN countries will have many positive benefits.

ASEAN nations will work together to develop their human resources and there will be mutual recognition of professional qualifications, allowing greater mobility within the region.

There will also be an increased demand for qualified finance and accounting professionals who hold globally recognised professional designations and who have the skills, experience and technical knowledge to help guide businesses during these stages. Ultimately, I think there will be greater opportunities for those holding professional designations, who can then differentiate themselves as leaders in the profession.

What can CPA Australia offer in support of further developing the technical capacity of Vietnam's accountants and auditors?

As the CPA designation is globally recognised, employers know that by hiring a CPA Australia member they come with established skills in leadership, strategy and international business, as well as transferable technical accounting skills. The quality of our CPA Program is unquestionable – as it has been recognised with an ISO 9001 certification for our excellent quality management system. Our members here in Vietnam benefit from our rigorous training courses, our emphasis on continuous professional development and our established global networks.

The CPA Australia designation is a valuable asset and a career passport for any professional who holds it, and this is particularly so for those in Vietnam where there is an increasing demand for accountants and auditors. — VNS