On October 16th, the Vietnam Association of Accountants and Auditors (VAA), PwC Vietnam Co., Ltd., and the Institute of Chartered Accountants in England and Wales (ICAEW) in Vietnam held a signing ceremony for a cooperation agreement to implement the International Financial Reporting Standards (IFRS) training program.
Accordingly, VAA officially launched and implemented the IFRS training program in October 2024. This program marks a significant step forward in enhancing the capacity of professionals working in auditing, accounting, finance, investment, analysis, and portfolio management; thereby supporting Vietnamese businesses in preparing for the adoption of international financial reporting standards in a suitable scope, for the appropriate target groups, and according to the established roadmap.
The program was designed in consultation with ICAEW Vietnam and PwC Vietnam, based on an approach that examines and researches current IFRS standards, guidelines, competency frameworks, regulations, and surveys of their application in Vietnam. The training content is diverse, divided into four levels: Introductory, Basic, Advanced, and Intensive; with a total duration of 80 hours. The program is taught by a team of experienced lecturers from the Ministry of Finance , the Academy of Finance, PwC Vietnam, ICAEW Vietnam, and other educational institutions.
At the signing ceremony, Ambassador of the United Kingdom and Northern Ireland to Vietnam, Iain Frew, assessed that the adoption of IFRS will bring many benefits to businesses, including improved transparency and comparability of information in financial reporting. This can help provide useful financial information more easily to stakeholders and attract foreign investment into Vietnam.
Meanwhile, Mr. Vu Duc Chinh, Director of the Accounting and Auditing Supervision Department (Ministry of Finance), highly appreciated the cooperation activities of the three units and expected this to be one of the first steps on the path to achieving a major goal.
Mr. Doan Xuan Tien - Chairman of VAA shared: "As the organizing unit, VAA is committed to providing high-quality IFRS training programs that meet international standards and the practical needs of the Vietnamese market. We believe that IFRS training is an important step in enhancing the capacity of accountants and auditors in the context of a globalized economy . We also hope to support Vietnamese businesses in the process of transitioning to IFRS, helping them build transparent and reliable financial reports.”
“Besides training, VAA also encourages research activities related to IFRS, aiming to find solutions suitable to the country's practical situation. VAA understands that applying IFRS is a process requiring thorough preparation and is an important part of Vietnam's international economic integration strategy, helping to enhance the country's position and contributing to building a solid foundation for the sustainable development of the accounting and auditing industry in Vietnam,” Mr. Tien added.
Ms. Dang Thi Mai Trang, Head of the ICAEW Vietnam Representative Office, affirmed: “Vietnam is on the path towards adopting IFRS. I believe that applying IFRS standards in financial reporting will help Vietnam improve its business environment towards greater transparency, enhance competitiveness and corporate governance, and support financial reforms. ICAEW is honored to partner in implementing practical training programs, equipping current professionals with the knowledge and skills to apply IFRS professionally and effectively, as well as building future human resources.”
Ms. Dinh Thi Quynh Van, Chairwoman of PwC Vietnam, stated: “We will design training materials that combine knowledge of IFRS standards with practical implementation experience in Vietnam, and we will also participate directly in teaching to help trainees master both the theory and practical application of IFRS in Vietnam.”
Phuong Dung
Source: https://vietnamnet.vn/trien-khai-chuong-trinh-dao-tao-chuan-muc-bao-cao-tai-chinh-quoc-te-ifrs-2332854.html
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