Associate Professor Dr. Dang Van Thanh, who also heads the Vietnam Association of Accountants and Auditors (VAA), said that it is necessary to continue completing the legal system of documents on auditing and improving auditor training.

Auditing has an important role and independent audit work provides a guarantee to investors and instills trust in financial reports as a foundation for transactions, said President Brendan Murtagh of the Association of Chartered Certified Accountants (ACCA).

Murtagh emphasized the need to have a correct assessment of auditing’s role in economic development to gain foreign investors’ confidence, make financial information more transparent and facilitate the supervision of the financial situation and the results of the operations of business. He highlights this as one of the basic steps needed to help Vietnam’s economy integrate into the global economy.

According to the ACCA in Vietnam, the country is now home to around 148 audit companies registered for operation, including seven foreign invested and 26 domestic audit companies. There will be 1,017 auditors registered by the end of this year.

VNA