The committee has thus become one of the main pillars of the corporate governance system around the globe in public companies and its establishment is thus a fundamental prerequisite to the attraction of portfolio equity investment.
This is according to auditors of Deloitte Vietnam, who on June 9 presented for Vietnamese listed companies a seminar addressing international norms in corporate governance.
At the seminar, Ha Thu Thanh, chair and CEO of Deloitte Vietnam explained in considerable detail the need for public companies to raise their awareness of the ramifications of corporate governance and the role of audit committee in supervising the efficiency and effectiveness of internal audits.
The seminar was cosponsored by the International Finance Corporation, Hanoi Securities Exchange and Ho Chi Minh City Securities Exchange (HOSE) and is part of an effort to bring public companies on par with their global counterparts in the competitive world of attracting capital in the equity markets.
A similar conference is scheduled for June 10 in HCM City.