This is an activity under a collaboration agreement between the German Cooperative and Raiffeisen Confederation (DGRV) and the Vietnam Cooperative Confederation.
Participants underlined audit as one of the key factors in effective operation of cooperatives.
They also discussed ways to apply DGRV’s audit experience in a number of cooperatives in the province.
According to Ulrich Werner from DGRV, auditing helps enhance transparency of cooperatives’ activities, thus building trust among their members, partners and clients.
Meanwhile, Tran Dinh Tuan from Vietnam Cooperative Federation said the work creates impetus for the effective development of cooperatives through producing reliable information on the cooperatives’ situation, thus facilitating management work.
President of Tien Giang provincial Cooperative Alliance Nguyen Van Hong said since 2014 audit has been annually conducted in 10 local cooperatives in agriculture and small-industry.
The DGRV has helped the province organise training courses in auditing.
Tien Giang is one of 20 provinces in Vietnam that have benefited from a DGRV consulting and assistance programme since 2004.
From 2004 to 2013, the province’s collective economy posted a growth of 250.6% in revenue and 296.4% in profit. The sector’s per capita income also shot up 232.5% during this period.
Tien Giang is also gaining from a programme to improve the economic efficiency of cooperatives in the 2013-2017 period run by Canadian non-profit international development organisation SOCODEVI.