The Institute of Chartered Accountants in England and Wales has signed a memorandum of understanding with the Ministry of Finance’s Accounting and Auditing Supervisory Department to improve the quality of human resources and accelerate the development of accounting and auditing to facilitate Viet Nam’s international integration.

The institute and the ministry’s accounting and auditing supervisory department will work hand in hand.

They will consider mapping out a training programme for certification of International financial reporting standards in Viet Nam.

They will periodically organise seminars and conferences to exchange accounting and auditing knowledge, carry out research and share experiences, technical resources and the best practices in accounting and auditing .

Deputy Minister of Finance Ta Anh Tuan said one of the key targets was to adopt international financial reporting standards in Viet Nam to improve the credibility of businesses and create an attractive investment environment and facilitate Viet Nam’s global integration.

Britain’s ambassador to Viet Nam, Gareth Ward, said the UK was committed to working with Viet Nam to further develop its financial and professional services sector to foster the adoption of the international financial reporting standards.

The ministry and ICAEW have been working together for almost 10 years on occupational development activities. — VNS