The State Audit of Vietnam (SAV) is penning the 2014 audit plan, to beunveiled within the next few weeks. Deputy Auditor General Doan XuanTien sat down with Vietnam Investment Review to outline the office’soperational focus next year.
* When will the 2014 audit plan be released?
We have consulted with the National Assembly on this and it is likelythat the plan will be announced in the second half of this month.
This year we audited 149 units, of which 29 were businesses andfinance-banking organisations. Next year, we are contemplating auditing161 units, including 44 businesses and banking institutions.
* What will be the major focus of auditing of businesses and banks?
The SAV will focus on appraising the financial situation managementand production efficiency of these businesses, as well as their non-coreinvestment efficiency, the restructuring of State-owned corporationsand business groups, and commercial banks and credit institutions linkedto the reform model striving for higher quality, efficiency, andcompetitiveness.
During the auditing process we willconsult with the National Assembly and the government on restructuringSOEs and the banking system.
We will also assessmonetary policy management through the use of diverse tools and measuresby the State Bank and the credit activities of commercial banks,focusing on issues of the greatest interests as highlighted by expertsand citizens such as bad debts and cross-holdings between banks.
* There are nearly 1,200 State-owned enterprises in Vietnam and only40 units are slated to be audited each year. How much time does it taketo re-audit a business?
Since there are numerousSOEs, we need to prioritise particular groups. We often focus on statecorporations and groups which means several have been audited more thanonce. For other businesses, we try to identify those with financialmanagement or production-business problems, such as the colossal wagehikes at several Ho Chi Minh City public utility companies.
* Will there be anything new added to the auditing process next year against that of previous years?
Auditing is a complicated process that aims to achieve differenttargets, which makes its scope very large compared to the actualcapacity and time able to be spent by an auditing organisation. We alsohave to use diverse sources to assess the quality of investment projectssubject to audit, and the quality of our work is still belowexpectations.
From 2014, these limitations will betackled by closer cooperation with Party control units, the GovernmentInspectorate, and other agencies.
As part of ourefforts to concentrate on the SOE sector and controversial fields suchas construction investment and public debt, the number of SOEs to beaudited next year is planned to increase by 50 per cent against thisyear, from 29 to 44, but the number of total audits will rise by only 8per cent.-VNA
* When will the 2014 audit plan be released?
We have consulted with the National Assembly on this and it is likelythat the plan will be announced in the second half of this month.
This year we audited 149 units, of which 29 were businesses andfinance-banking organisations. Next year, we are contemplating auditing161 units, including 44 businesses and banking institutions.
* What will be the major focus of auditing of businesses and banks?
The SAV will focus on appraising the financial situation managementand production efficiency of these businesses, as well as their non-coreinvestment efficiency, the restructuring of State-owned corporationsand business groups, and commercial banks and credit institutions linkedto the reform model striving for higher quality, efficiency, andcompetitiveness.
During the auditing process we willconsult with the National Assembly and the government on restructuringSOEs and the banking system.
We will also assessmonetary policy management through the use of diverse tools and measuresby the State Bank and the credit activities of commercial banks,focusing on issues of the greatest interests as highlighted by expertsand citizens such as bad debts and cross-holdings between banks.
* There are nearly 1,200 State-owned enterprises in Vietnam and only40 units are slated to be audited each year. How much time does it taketo re-audit a business?
Since there are numerousSOEs, we need to prioritise particular groups. We often focus on statecorporations and groups which means several have been audited more thanonce. For other businesses, we try to identify those with financialmanagement or production-business problems, such as the colossal wagehikes at several Ho Chi Minh City public utility companies.
* Will there be anything new added to the auditing process next year against that of previous years?
Auditing is a complicated process that aims to achieve differenttargets, which makes its scope very large compared to the actualcapacity and time able to be spent by an auditing organisation. We alsohave to use diverse sources to assess the quality of investment projectssubject to audit, and the quality of our work is still belowexpectations.
From 2014, these limitations will betackled by closer cooperation with Party control units, the GovernmentInspectorate, and other agencies.
As part of ourefforts to concentrate on the SOE sector and controversial fields suchas construction investment and public debt, the number of SOEs to beaudited next year is planned to increase by 50 per cent against thisyear, from 29 to 44, but the number of total audits will rise by only 8per cent.-VNA
