Shortage of internal audit personnel poses problem for domestic firms
Ways to build and effectively operate internal audit along with international practice in the field were introduced to listed and securities companies at a workshop in Ho Chi Minh City on August 15.
Internal audit is an integral and indispensable part in operation of listed and securities firms. (Photo: tinnhanhchungkhoan.vn)
HCM City (VNA) – Ways to build and effectively operate internalaudit along with international practice in the field were introduced to listedand securities companies at a workshop in Ho Chi Minh City on August 15.
Atthe event, held by the Ho Chi Minh Stock Exchange (HOSE) in collaboration withthe US Institute of Internal Auditors (IIA) and Smart Train company, DeputyGeneral Manager of HOSE Tram Tuan Vu affirmed that internal audit is anintegral and indispensable part in operation of listed and securities firms.
He said HOSE will continue assisting listed and securities companies to improvebusiness management by helping them apply advanced management models.
According to IIA President and CEO Richard F.Chamber, internal audit shouldfocus on constant risk evaluation, thus enabling firms to quickly identify andrespond to emerging risks.
Domestic businesses, including securities companies, have encountered problems inthe establishment and operation of internal audit units to meet demand ofmarket development, and international economic integration, he said. One of theproblems is an acute shortage of internal auditors.
Deputy General Director of the Accounting and Auditing Policy Department underthe Ministry of Finance Le Thi Tuyet Nhung shared the view. She stressed thatimproving quality of human resource in internal audit sector is a formidablechallenge for the companies, as there are not many experts well schooled ininternal audit in accordance with international standards.-VNA
The Vietnam Banks Association (VNBA) and the US Institute of Internal Auditors (IIA) held a workshop in Hanoi on August 23 to update local banks on the new International Professional Practices Framework (IPPF) for application in Vietnam.
Audits by the State have found serious mismanagement of urban land worth more than 8.3 trillion VND (368.8 million USD) at seven localities between 2013 and 2016.
With the hosting of the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI) this September, the State Audit of Vietnam (SAV) will become Chairman of ASOSAI for 2018-2021, which is set to bring both opportunities and challenges to a young agency like the SAV.
The State Audit of Vietnam has requested the Saigon Beer-Alcohol-Beverage Corporation (Sabeco) pay to the State budget nearly 2.5 trillion VND (110.9 million USD) worth of dividends, taken from the brewer’s undistributed profit for the period prior to 2016.
“Environmental auditing for sustainable development” will be the theme of the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI 14) slated for September 19-22, 2018 in Hanoi, with the participation of over 350 delegates from 46 ASOSAI members.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
Internal audit is an integral and indispensable part in operation of listed and securities firms.
