The co-operation signing ceremony of the Vietnam Association of Small and Medium Enterprises and the Association of Chartered Certified Accountants to improve the capacity and development of financial accounting and auditing human resources in small and medium-sized enterprises (SMEs) in Việt Nam. – Photo Courtesy ACCA

The Vietnam Association of Small and Medium Enterprises (VINASME) and the Association of Chartered Certified Accountants (ACCA) recently signed a Memorandum of Understanding (MoU) on strategic co-operation, aiming at improving the capacity and development of financial accounting and auditing human resources in small and medium-sized enterprises (SMEs) in Việt Nam.

The signing ceremony signifies a milestone for VINASME and ACCA to establish a strategic partnership to enhance the capacity of human resources for finance, accounting and auditing in small and medium-sized enterprises across the country.

It serves as a foundation for both parties to further consolidate and expand their collaborative activities, contributing to the sustainable diplomatic relations between Việt Nam and the UK.

The collaboration will include training sessions and workshops on financial accounting, auditing, and technology applications in finance and accounting.

The collaboration also focuses on implementing human resource development programs for SMEs, promoting priority recruitment programs for ACCA members and students to SMEs affiliated with VINASME, and incorporating accounting and business diplomas into the curriculum of universities and colleges in order to build quality human resources for small and medium-sized enterprises across Việt Nam.

"We are committed to innovating and collaborating with competent organisations like ACCA to continuously apply internationally standardised training methods, thus producing high-quality human resources that meet the practical requirements of the new era," said Tô Hoài Nam, the permanent vice chairman and secretary-general of VINASME.

Since 2021, ACCA has been involved in supporting the United Nations' initiative on Micro, Small, and Medium-sized Enterprises Day to assist small and medium-sized enterprises worldwide, which have been significantly affected by the COVID-19 pandemic but still play a vital role in economic recovery.

"Our collaboration with VINASME is part of ACCA's long-term strategy to support and enhance the competitiveness of Việt Nam's accounting and auditing profession in the context of increasing integration with the world economy, especially as Việt Nam moves towards implementing international standards.

“We value Việt Nam’s place in global markets and have implemented many initiatives to support SMEs, providing resource materials for SMEs on priority issues and opportunities for accountants advising them to share experience and knowledge," said ACCA chief executive Helen Brand OBE. – VNS