A delegation from the State Treasury is working in the UK and Italy.

The delegation was led by Deputy Director of the State Treasury Ngo Thi Nhung.

The working trip, lasting from November 26th to December 3rd, aimed to survey, learn from, and exchange experiences on the process and timeline for settling the state budget; the scope and process of preparing Government Financial Statements; solutions for improving Government financial information; analysis and explanation of Government Financial Statements; and the exploitation and use of Government financial information to serve macroeconomic management and administration. From this, research will be conducted to apply and implement this work in Vietnam, contributing to the successful implementation of the State Treasury Development Strategy until 2030.

In the United Kingdom, the delegation met and worked with the UK Treasury ; the Institute of Chartered Accountants in England and Wales (ICAEW); and the Scottish government. They received presentations on the organizational structure, functions, and responsibilities of these entities, as well as an overview of budget management processes, government financial reporting procedures, approval authority, auditing, and information disclosure.

During the meeting with ICAEW, Mr. Henning Diederichs, Senior Technical Director, Public Sector at ICAEW, presented the Government Consolidation Report, its materiality level; the IPSASB update on sustainability reporting; and the future skills development work program on Public Financial Management Development.

In the Republic of Italy, the delegation worked with the General Directorate of Accounting, the Ministry of Economy and Finance of the Republic of Italy, and the Emilia Romagna Regional Government. Representatives from the Vietnamese Embassy in Italy also participated in the working sessions.

Ms. Daria Perrotta, Director General of the State Accounting Department, expressed her pleasure in welcoming the Deputy Director of the State Treasury of Vietnam and the delegation to visit and work with her; she shared information about state accounting work and the preparation of financial statements currently being implemented in the Italian Government - one of the advanced and modern models being applied worldwide.

During the working sessions, after listening to presentations from the various units, the delegation exchanged and discussed the procedures, scope, and timeline for preparing government financial reports and state budget final accounts reports.

At the conclusion of the working sessions, Deputy Director of the State Treasury Ngo Thi Nhung thanked the UK Treasury, ICAEW, the Scottish government, the Italian Ministry of Economy and Finance, and the Emilia Romagna Regional Government for their hospitality.

She stated that the working group had gained valuable experience to improve the mechanism, develop a roadmap for perfecting the Government's financial report, and shorten the budget settlement time according to international standards, and expressed her hope to continue receiving technical support in the future.

Source: https://daibieunhandan.vn/doan-cong-tac-cua-kho-bac-nha-nuoc-lam-viec-tai-anh-va-y-10400139.html