On 22 April, 2007, at the International Conference Center (No. 11 Le Hong Phong - Hanoi), the Ministry of Industry and Trade held an awards ceremony for outstanding entrepreneurs and enterprises in the field of trading and services in 2016. AASC Auditing Firm was honored the third time as "Vietnamese Typical Trading Service Enterprise". On behalf of the Company's leaders, Chairman / CEO Ngo Duc Doan received the award, Certificate of Merit and Souvenir Cup from Minister of Industry and Trade Tran Tuan Anh. The "Vietnam Top Trade Services" award is held every three years to encourage and honor businesses and entrepreneurs in 11 groups of trade and services that Vietnam committed to open its doors entered the World Trade Organization in 2007, including: environmental services, distribution services, financial services, construction services, information services, general business services, travel services , transportation services, health-social services, educational services and cultural services. This year, the title of "Vietnam - WTO 10th Year" marks the 10th anniversary of Vietnam's accession to the World Trade Organization (11/1/2007 - 11/1/2017), coincides with the occasion celebrating 10 years of AASC transformation from SOEs into Limited Liability Company with two or more members (2007-2017). From over 400 nominations, through 3 rounds of selection, the Organizing Committee decided to award the Vietnam Top Trade Services Award in 2016 to the Top 10 "Excellent Trade Services Entrepreneurs 2016"; Top 10 "Excellent Trade Services Enterprises 2016" and Top 83 "Typical Top Trade Services Enterprises 2016". AASC is proud of being a very successful integrated enterprise of the independent auditing industry awarded by the Ministry of Industry and Trade for many consecutive years.  Early spring meeting has become an annual nice tradition of AASC Auditing firm each spring. In the morning of 02 February 2017 (The January 6th of the Lunar New Year), general harmony in the air excited by the first working day of the new year 2017, Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff... of AASC Auditing Firm had the meeting on the occasion of the new year. On behalf of the Board Members and Board of Directors, the Chairman - General Director Ngo Duc Doan was sent to all labor collective of the AASC Auditing Firm the New Year greetings of wellbeing, prosperity, new joys, and new victories. At the same time, he also announced the good news on the same day 8 am; AASC’s General Director signed contracts with traditional client - Viettel Telecom Army. The contract is worth a total of over 7 billion, alarm New Year’s success of AASC and collective employees. Each individual is excited and eager to get lucky early luck of Leadership and Executive Committee of Trade Union. Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff... of AASC Auditing Firm toast the New Year in the common house. We will open a new spring, a new year 2017 with the determination to uphold the spirit of collective solidarity, consensus. The company’s Board of Directors is confident that this will help to maintain the strength AASC position helps maintain the leading position, while always reminding individuals improve themselves to welcome the successes, accomplishments of the following decade. Photos at the meeting: BBT HÀ NỘI – Deputy Minister of Transport Nguyễn Ngọc Đông urged the Vietnam Railway Corporation (VNR) to enhance transport quality and use technology in management for sustainable development in 2017. During a conference on VNR’s production and business plan in 2017 on Thursday, the deputy minister underlined efforts the railway sector made in 2016 to maintain growth. According to Đoàn Duy Hoạch, VNR deputy director general, the company’s output and revenue hit VNĐ7.97 trillion (US$350.9 million), and VNĐ8.34 trillion, respectively, equivalent to 87.7 per cent and 88.8 per cent of the figures in 2015. The company earned post-tax profit of VNĐ137 billion. Hoach attributed the fall in output and revenue to the reduction of its joint stock companies and networking due to divestment and equitisation. The collapse of the Ghềnh Bridge in Đồng Nai, storms and floods in the central region, uncompetitive transport price, and newly-restructured subsidiaries also explained the corporation’s poor performance, Hoạch said. To improve the sector’s competitiveness and efficiency in 2017, VNR aims to submit a proposal to the ministry to enhance the performance of the railway network nationwide, with focus on the Hà Nội-Vinh route. VNR will also mobilize social resources, investing in means of transport and support facilities. Additionally, the corporation will accelerate the implementation of key projects, particularly related to infrastructure and train building. Efforts will also be made to better business management and reform administrative procedures. — VNS Source: After a long absence, the luxury real estate projects in the Ho Chi Minh City recognized signs of prosperity. However, as identified by some investors at the Congress III of Ho Chi Minh City real estate Association (HoREA), luxury and above housing segment will hardly achieve good liquidity levels after more than a year having successful business. According to Mr. Le Hoang Chau, Chairman of HoREA, in 2016, real estate inventory still has about 31.842 billion, 19.047 billion decrease compared to 2015. In which, Ho Chi Minh City inventory has 5.954 billion left, down 4.153 billion. Real estate market continues to recover, though not as strong as in 2015, but some segments still show attraction. Operating results of the HCM City real estate market in 2016 showed that the average class housing which occupies 79,7% remains the leading segment. In terms of prices, in 2016, the apartment price rose approximately 5%, land sales prices increased higher, approximately 10%, depending on the type of product, utilities, or location. In 2017, the real estate is forecasted to be still in the growth phrase, but the increasing can be slower than in 2016. Forecasts to 2020, the market will be adjusted to address the supply-demand mismatch currently tends to shift towards the premium segment (including real estate in terms of tourism and resort) As reported by CBRE Vietnam, from the second quarter of 2016, the market saw buying back of luxury real estate with primary asking price from $ 3,500 / m2 (80 million/m2) or higher. Trading activities of this segment has been quiet since 2014, has had a bit lively in QIII / 2015 and now there are signs of more robust with supply from Vinhomes Golden River (about 1,000 apartments of the Aqua), D'.Palais de Louis (242 apartments), the combination Madison (187 apartments), Waterfront Saigon (33 apartments), Lavenue Crown (200 apartments), The One (420 apartments), The Nassim Thao Dien (238 apartments) ... The majority of these projects are located in the favorable district 1. Ms. Duong Thuy Dung - Director of Market Survey Department of CBRE Vietnam predicts that in 2017, the luxurious apartments will account for about 3% of the total supply. This ratio in 2016 was 1%. Accordingly, in the next year, separate segment of average class housing in Ho Chi Minh City will receive about 10,000 apartments. Meanwhile, the segment of luxury apartments exceed double, most projects are located in the downtown district and the East. Typically, thousands of apartments in the project The Empire City are located in Thu Thiem, or more than 200ha of Novaland project in Thanh My Loi and 100ha of Him Lam Land at the former golf course in District 2 and of course, we cannot fail to mention urban areas of Dai Quang Minh Sala also with more than 100 hectares in the heart of Thu Thiem. That's not to mention nearly 5,000 apartments in Saigon Peninsula project with an investment of over $ 6 billion and 4 other super luxury projects of Truong My Lan will debut in 2017 in the South. Because many projects in this segment have huge area, so the supply from the East is very diverse in terms of price. Is probably the most expensive area of Thu Thiem at around USD4,000 - USD6,000 / m2. A little further is the Hanoi Highway, Mai Chi Tho, Dong Van Cong price falls between USD2,500-USD3,000/ m2. Vo Van Huu Phuoc - Director, Head of Valuation and Research Vietnam Cushman & Wakefield, said that in 2017, the luxury segment with the growth, but high-end real estate groups have sizable supply. This could lead to oversupply by purchasing power and affects the luxury segment in the future. Mr. Phuoc also said that in 2017, the intermediate segment and affordable housing will still lead the market. Gia Khang Source: Tri thuc tre The Government has issued Resolution renew trade agreement between the Government of Vietnam and the Government of the Philippines in the form of exchange of diplomatic notes. Specifically, the Government agreed to extend the agreement between the Government of Vietnam and the Government of Philippines concerning Vietnam’s providing rice to the Philippines in the form of notes exchange and approved the content of the exchange of diplomatic notes. The government authorized the Ministry of Foreign Affairs in collaboration with the Ministry of Industry and Trade to complete and to send a note to Philippines to renew the Agreement mentioned above and implementing external procedures involved. Source: Vietnam Customs News His comments came at a 2016 review meeting held in Hà Nội yesterday, during which he praised the Ministry of Industry and Trade (MoIT) for its successes in restructuring via reducing the number of units and staff while improving its effectiveness. “It has stumbled, but not fallen. It has shown strong improvement,” he said at a conference yesterday. The PM said that while the ministry removed several superfluous administrative procedures to resolve difficulties faced by people and businesses, it experienced limitations including decreasing output and crude oil prices, exerting pressure on the State budget. Many projects had been tardy and suffered prolonged losses. Some planning strategies had not been effective, and failed to create the needed momentum to attract investment from the private sector, including into industries and sectors like automobile, mechanics, steel and electricity. The PM said the market watch and trade border management agencies had also not been fully effective against smuggling and multi-level marketing activities. In addition, the restructuring of State-owned enterprises had been slow. Some issues relating to the hiring of staff had dented the Ministry’s image, he noted. “The Ministry should strive to develop the country’s industrial sector by reducing dependence on unsustainable advantages and natural resources such as crude oil, coal and minerals. The sector should base itself on science and technology and creativity to generate its development momentum,” he said. He asked the ministry to formulate specific policies for development of key industrial products like automobiles, electronics and mechanics. It should also develop industry to serve hi-tech agriculture, he added. He also asked the ministry to build a national brand for key Vietnamese products. The PM urged the industrial sector to quickly and actively integrate with and exploit ASEAN and China markets. The country should take advantage of trade pacts, improving market management and reducing counterfeit goods. The mechanisms for e-commerce development and border trade should strive to break new ground, he said. “The issue is also how to better exploit the local market with a population of around 100 million. The ministry should encourage Vietnamese people to use Vietnamese goods of high quality and reasonable prices,” he said. Four targets set Industry and Trade Minister Trần Tuấn Anh said the ministry had set four targets to help the country’s gross domestic product (GDP) grow by 6.7 per cent in 2017: increase industrial production index by 8-9 per cent; exports by more than 6-7 per cent; keep trade deficit to under 3.5 per cent of export revenues; and increase retail goods sales and service revenues by 10-11 per cent. The ministry would step up restructuring of the industrial sector by stepping up development of processing and manufacturing sectors while reducing outwork and assembly of industrial products, he said. Apart from removing a number of complicated administrative procedures, the ministry would strive to create the best conditions for enterprises to develop, the minister said. He also said the ministry would take full advantage of free trade agreements (FTA) to actively support domestic enterprises participate in global supply chains. It would also put forth policies to provide more assistance for support industries, while working with the involved parties to simplify customs procedures and supply businesses with useful information to prevent and handle trade disputes, he affirmed. Anh proposed that the PM approves a particular mechanism to implement urgent power projects, a plan to restructure businesses under the Electricity of Việt Nam Group (EVN) in the 2016-20 periods, and a strategic scheme to develop the power sector through 2025 with a vision towards 2040. He also recommended that the Government approves a framework for average retail electricity prices between 2017 and 2018, and a decision to increase the EVN’s chartered capital. The Minister asked the government to direct the Ministry of Finance to support the Việt Nam National Oil and Gas Group (PetroVietnam) in implementing the government guaranteed undertaking (GGU) commitments on preferential tariffs for the Nghi Sơn Refinery and Petrochemical Complex for 10 years of commercial operations. He also suggested the government consider ways to support the oil and gas, coal, and fertilizer sectors and amend Decree No 203/2013/NĐ-CP on calculating and collecting money from minerals mining. — VNS Source: From 12 January to 14 January 2017, in jubilantly atmosphere of the New Year 2017, AASC Auditing Firm successfully held training class on audit of settlement project organized and cooperated by Department of Quality control and Training, Department of Settlement for Investment, Project Department, R&D Division and Business Support Unit. Speaking at the training class, Chairman/General Director Mr. Ngo Duc Doan stressed the importance of the audit of settlement project for over 25 years and development strategy of AASC up to 2027, vision to 2037. The training program is carefully prepared with the aim of continuously improving the service quality, in accordance with Vietnamese auditing standards No. 1000 - audit of settlement project report under Circular No. 67/2015/TT-BTC dated 08 May 2015 and Circular No. 09/2016/TT-BTC on 18 January 2016 of the Ministry of Finance. After the presentation of an audit report, audit records, paper work, professional ethics, Deputy General Director Pham Thanh Giang and Deputy General Director Pham Anh Tuan delivered a section to help auditor, auditor assistant clearly understand the requirements of standard bidding proposal as well as Bixtrix24 software to manage and archive the audit records in an efficient manner. Participants also have the opportunity of discussing, sharing professional knowledge and experiences with others, which reflect strong and tight relationship between each and every AASC’s members. At end of the program, Deputy General Director Nguyen Thanh Tung assigned and believed that the auditors, technicians will improve their professional knowledge, and ethic, therefore audit of settlement project of AASC will continue to grow, confirming the leading role among Vietnam Auditing companies. Images at the training class: Myanmar National Tele & Communications Co., Ltd (MNTC), a joint venture between Viettel Global, Myanmar National Telecom Holding Public Limited (MNTH) and Star High Public Company Limited (Star High) on Thursday officially received a licence to begin offering nationwide telecommunications services under the Mytel brand name. The company has received a licence to operate for 15 years in Myanmar, its tenth market. It targeted to launch the telecom services within 12 months of receiving its licence and will cover 95 per cent of Myanmar’s market within three years. Myanmar is Viettel’s largest foreign market, as its population is around 60 million. “Our vision is to have a better network than other current providers when we launch our network. We will build a modern and wide telecom network across Myanmar quickly,” said Le Dang Dung, Viettel’s deputy general director. Myanmar has been part of the strategy for Viettel’s market expansion, especially in developing Asian countries. After 10 years of operation, Viettel has been listed among the Top 30 largest telecom companies in the world. Most of its foreign markets report profits and are listed among the largest companies in those countries. Viettel will continue its sustainable and long-term investment strategy by considering telecommunication as a national infrastructure. This has been a factor in being successful in Viettel’s expansion. Vietnamese telecom major Viettel holds a 49 per cent stake in the joint venture, while the local consortium of Star High and MNTH own 28 per cent and 23 per cent, respectively. The fourth telecom operator is expected to invest an estimated capital of US$2 billion in the country over a five-year period and cover 95 per cent of the population in three years. With this project, Viet Nam takes the 7th position among the largest foreign investors, and second largest investor in ASEAN in Myanmar. — VNS Source: ICT news 1. Successfully organize the Ceremony of 25th anniversary of AASC (13/5/1991-13/5/2016) The Ceremony of 25th anniversary of AASC named “AASC – 25 years with Pride and Aspiration” has been numerous of customers, national and international enterprises, to attend, recognized and highly appreciated. A quarter of the century has passed; AASC today is not only the results of 25 years with pride but also the aspirations of the coming years, and contribute to the strength of Vietnam Audit. 2. HLB International Conference of the Asia - Pacific region to achieve good results “Transnational investment - Challenges and Prospects” is the topic of LHB Conference 2016. The conference was the opportunity for Member States to exchange, to learn from each other's experience, to connect efficiently and to aim the business development. Besides, the conference recorded AASC’s role in the progress of International LHB and Vietnam Audit. 3. Appointment of Deputy General Directors and key leaders This is the company‘s honor and proud when the Deputy General Director Vu Xuan Bien and the Deputy General Director Pham Anh Tuan, the persons with bright and professional ethics in the contribution to the company were appointed. In parallel, in order to strengthen the human resource to carry out AASC’s development strategy in nowadays competitive situation, The General Director has appointed Mr. Ngo Minh Quy to be the Director of Ho Chi Minh Branch. Besides, at the 10th Congress of Board of Members, the Board has approved the appointment of Mrs. Nguyen Thi Thanh Tu as the company Chief Accountant since 1st December 2016. 6. Successfully held the Conference of 9 years of implementation the services of Audit of project settlement report Since the date of conversion of AASC into the limited liability company with two or more members, after 9 years of implementation the services of Audit of project settlement report (2007-2016), in consecutive years, AASC achieved 1st rank in the revenue of Audit of project settlement report, according to data from Ministry of Finance and VACPA, contributing to maintain his position on Audit of project settlement report in Vietnam independent audit. 8. Development of experts’ team holding international certificate In the year of 2016, AASC strengthen the training of auditors and auditor assistants towards the goal of building a professional staff team with good moral qualities, professional expertise, with the purpose of internationalize the certificates. In the 10th financial year, two members of AASC have been certified CPA, ACCA and CIMA. 9. Promote cooperation with the audit firm in the industry In the last financial year, AASC promoted cooperation with the auditing company in the sector to implement a number of services as the audit of project settlement report, the audit of financial statement, and the enterprise valuation. Promoting cooperation contributes to increase the revenue and the quality of services provided by AASC in particular and by audit firms in the industry in general. 10. The 10th Congress of Board of Members successfully organized The 10th Congress of Board of Members has been successfully organized: The band of Audit firm AASC with historical mission, with the “oldest brother” position of the firms in the industry, and the traditional value were elevated in the Resolution of the Congress, and recorded as provisions of the policy, and as an inseparable part of AASC Company’s culture. On 20 November 2016, on the occasion of 25 years of the establishment of School of Accounting - Auditing - National Economics University and appreciation of Vietnamese Teacher’s Day, on behalf of Board of General Directors of AASC Auditing Firm, Ms. Cat Thi Ha – Deputy General Director of AASC aka. an alumnus of K37 Audit class honorably attended and awarded gifts to School of Accounting – Auditing - National Economics University. During 25 years of development, School of Accounting – Auditing is one of the leading educational institutions in Vietnam in the field of accounting and auditing as well as a long-term and sustainable partner of AASC Auditing Firm – the leader among Vietnamese Auditing Firms. At the same age and together passing through difficulties, challenges and affirming the leading position, it is not by chance that School of Accounting – Auditing - National Economics University and AASC Auditing Firm can gain such proud achievements. Our two organizations regularly have had mutual support activities. School of Accounting – Auditing is a reliable training body, providing AASC Auditing Firm with qualified and skilled employees. Meanwhile, AASC Auditing Firm provides students of School of Accounting – Auditing with internship opportunities in the professional working environment. At the ceremony, Ms. Cat Thi Ha, along with friends and teachers, reviewed the old good memories of student lives with dream and ambition. She also expressed her gratitude and congratulations to teachers who have made enormous contributions to high-quality human resources for Vietnam Auditing Industry so that AASC Auditing Firm can have highly qualified staff to bring clients with best quality services and great confidence. Happy Vietnamese Teacher’s Day. Hopefully, two organizations will continue to accompany and well corporate with each other on the way to success in the next 25 years, 50 years and forever after. Image of ceremony: _BBT_ On 20 November 2016, at the headquarter, AASC Auditing Firm has organized a meeting on summarizing 9 years of conducting audit of settlement projects since the AASC‘s transformation from SOE (2007-2016). The meeting’s attendees include General Director Mr. Ngo Duc Doan, Deputy General Director Mr. Nguyen Thanh Tung, Deputy General Director Mr. Bui van Thao, Deputy General Director Mrs. Pham Thanh Giang and leaders; auditors come from investment-settlement audit department, project audit department, and AASC’s branch in Ho Chi Minh City and in Quang Ninh province. After the speech of units, Deputy General Director Mrs. Pham Thanh Giang delivered the report on summarizing 9 years of conducting audit of settlement projects since the AASC‘s transformation from SOE to Limited Liability Company with 2 or more members. AASC has maintained its leading role among Vietnam Auditing companies for many years and achieved the highest revenue from audit of settlement projects. At end of the meeting, General Director Mr. Ngo Duc Doan praised the efforts of the whole staffs and stressed that AASC need to continue improving service quality, opening more training courses, and assisting other auditing firms in an effective manner in order to contribute more to the development of Independent Audit sector. Some images of the meeting: BBT On 22 November 2016, at its headquarter, AASC Auditing Firm has organized the 10th Board of Member’s meeting with the appearance of members and 02 distinguished guests: Senior Manager of Foreign Investment Service Department 2 and Audit Department 6 in a jubilant atmosphere to celebrate its achievements during 09 years since AASC’s transformation from SOE (2007 – 2016), and maintain the TOP5 position in Vietnam Independent Auditing. The Tenth Meeting was marked with number of highlights: Revenue increased by over 10% compared with the financial year VIII, audit services of the Company increased by 7.24%, in which audit services of project settlement rose by 17.64% compared to the previous financial year; the consulting service has witnessed a significant increase by 81.57%. The Member of Management Board of the Company has discussed thoroughly about setting targets, direction, and action plan of AASC auditing firm for the 10th fiscal year. With the appointment of two new Deputy General Directors, one Director at AASC’s branch, one Senior Manager, AASC believes in the 10th fiscal year, the Company will achieve more success and towards the successful implementation of the development strategy of AASC. At end of the meeting, Chairman of the Board of Member, General Director of AASC Auditing Firm, Mr. Ngo Duc Doan has praised for the efforts of the Board of Members, especially he showed his grateful for the significant contribution of Member of Board of Member - Deputy General Director Mr. Nguyen Quoc Dung, also Mr. Ngo Duc Doan called for wholehearted contribution of all members for AASC’s development in the following years. The Chairman also believed that with the right strategy and the consensus of all members, Board of General Directors, auditors, managers and staff, AASC Auditing Firm will develop strongly and stably, confirming its leading role among Vietnamese auditing companies. Images at the Meeting: BBT On behalf of Audit Department No. 7, Senior Manager Mr. Nguyen Ngoc Lan has reported results of the Department in the fiscal year IX, as well as advantages, opportunities, obstacles and challenges. In the fiscal year VIII, revenue of Audit Department No. 7 rose by 33%, ranking No.2. On this occasion, Senior Manager Nguyen Ngoc Lan showed his gratitude to General Director, Board of Directors in supporting Audit Department No. 7 to accomplish the assigned tasks and praised the efforts of all members of Audit Department No. 7 in contribution to the sustainable development of AASC. Speaking at the Meeting, Chairman of the Board of Member – General Director of AASC, Mr. Ngo Duc Doan complimented Audit Department No. 7 on its excellent performance in the fiscal year IX. He also set target, directions for the Department in the next fiscal year and inspired people with AASC’s development. The meeting was ended with number of repertoires, putting a highlight for the successful of the 9th fiscal year. Four years have passed and marked with efforts and proud achievements of Audit Department No. 7. For the upcoming years, the Audit Department No. 7 will commit to contribute more to the AASC’s growth. Images at the Meeting: BBT On the occasion of Vietnamese Women's Day 20/10, at AASC’s headquarter, Trade Union and Youth Union of AASC Auditing Firm jubilantly organized a meeting to congratulate female staff, auditors, technicians as well as marked 86-year anniversary of the establishment of the Vietnam Women's Union (20/10/1930 – 20/10/2016). Attendees at the ceremony include representatives of the Board of General Director, Trade Union and Youth Union, representatives of the departments, units, and branches together with female staffs, auditors and employees of the company. Speaking at the ceremony, Head of Trade Union – Ms. Cat Thi Ha, on behalf of the Trade Union and female staff, expressed the special thanks to the Chairman, Board of Directors and male staff for their deeply caring. Also, she wishes the female staffs and their family health, happiness, good work and constantly striving for strong growth of AASC. On behalf of Member Board and Board of General Director of AASC, Chairman and General Director – Mr. Ngo Duc Doan sent his regards to female auditors, officers and staffs and gave credits to their significant contribution in the development of the AASC as well as in Independent Auditor sector and wishes them beauty, health, happiness, successful completion of all assigned tasks. Special repertoires performed by Youth Union of AASC made a great end to the meeting. It closed in the joyful and warm atmosphere. Photos of the meeting: BBT At the ceremony, the Chairman of Board of Members - General Director Mr. Ngo Duc Doan praised the contributions of the members of the Member Board including newly appointed leaders in the development of AASC today. This is the pride of AASC to have strong and professional leaders, which is an important element for the implementation of long-term plans and development strategy of the AASC in the context of current fierce competition with Big 4 and other companies. Additionally, General Director Ngo Duc Doan encouraged newly appointed leaders to accomplish the assigned tasks with strong spirit together with all leaders and staffs of the Company to maintain AASC’s leading position among Vietnamese Auditing Firms. On behalf of newly appointed key leaders, Mr. Vu Xuan Bien expressed sincere thanks to leaders of AASC for being supportive and entrusting them to excellently complete all assigned tasks, together with the leaders and staff of AASC to strengthen and expand the image of the AASC locally as well as globally. Photos of the ceremony: BBT On the occasion of Vietnamese Entrepreneurs’ Day (13 October), in the evening of 11 October 2016, at Friendship Cultural Place (Hanoi), Board of Emulation and Commendation together with Vietnam Chamber of Commerce and Industry (VCCI) organised a launching ceremony of patriotic emulation program “Vietnamese Businesspeople to integrate and develop” and award ceremony to outstanding Vietnamese Businesspeople 2016 that have made an remarkable achievements to business activities, and humanitarian activities. Prime Minister Nguyen Xuan Phuc launched the ceremony of patriotic emulation program and with Vice President of Vietnam Dang Thi Ngoc Thinh, Chairman of the Central Committee of the Vietnamese Fatherland Front Nguyen Thien Nhan, President Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc awarded Saint Giong Trophy to outstanding business people 2016. At the ceremony, Mr. Ngo Duc Doan, Chairman of Board of Members – General Director of AASC Auditing Firm Company Limited was honored to be the one of 100 outstanding Vietnamese Business people to receive Saint Giong Trophy in 2016 for his relentless efforts, and creative thinking. He has led AASC with the Board of Directors for over 25 years of operation, achieved success and achievements, strengthening the firm’s strong growth in the current context of deeper global economic integration and confirming the leading role among Vietnamese audit firms. He received prestigious ‘Outstanding Vietnamese Businesspeople 2016’ title in recognition of his remarkable contributions to the Vietnamese Independent Audit in general and to AASC in particular. This is the pride and joy of all AASC staffs. Photos at the Ceremony Prime Minister Nguyen Xuan Phuc launched the ceremony of patriotic emulation program Mr. Ngo Duc Doan, Chairman of Board of Members – General Director of AASC Auditing Firm Company Limited received Saint Giong Trophy in 2016 Director of Department of Emulation and Commendation – Ministry of Finance congrats BBT In recent years, the application of cloud computing technology has created a new trend in governance activities and is now considered as the key to the success of many businesses. Catching up the trend, on 30 September 2016, AASC Auditing firm - One of the top accounting, auditing, tax consultants and management consulting businesses in Vietnam, also a trustworthy partner providing information technology (IT) solutions and business management of Microsoft, in collaboration with Department of information and Communications of Quang Ninh province and Microsoft Vietnam organized a Conference "Network safety security solutions and Cloud computing for agencies and enterprises in Quang Ninh province. The conference was held successfully with the participation of representatives from more than 20 Departments and leaders of many enterprises in Quang Ninh province. Representative of AASC participated in the Conference included: Ms. Pham Thi Thanh Giang - Deputy General Director in charge of Business Consulting, Mr. Pham Anh Tuan - Head of IT department, IT application consultant and Ms. Nguyen Thi Thanh Ha – Tax Consultant. At the Conference, delegates analyzed the current situation of IT development, especially issues regarding optimizing the cost of investment and application of information technology, preventing the risk of confidential problems, impact of policy changes on the selection of technology application. Therefore, many solutions and direction for IT development of businesses are introduced and discussed regarding cloud computing platform. In addition, experts participating in the Conference also provided an update of tax policies applicable from 01 July 2016. The Conference ended with excitement, theoretical and practical situation. The Conference is considered as an important step for the long-term cooperation between AASC and other units, agencies, and businesses in Quang Ninh province. At the end of the Conference, many believe that effective combination between AASC‘s deep understanding on the enterprise management and Microsoft on technology applications regarding cloud computing platform will certainly bring optimal solutions to meet the needs of businesses in the new era. Some pictures of the Conference: The Government Office has announced the Conclusion of Deputy Prime Minister Vuong Dinh Hue at the meeting on draft Resolution about tax measures to solve difficulties, obstacles, boost the enterprise’s development. The announcement clearly states that the draft Resolution is in line with the policy stipulated in Resolution No. 35/NQ-CP dated 16 May 2016 on supporting and developing enterprises by 2020. Contents of the draft Resolution have been commented by the concerned ministries and agencies and evaluated by the Ministry of Justice. However, there are still many different opinions on the draft Resolution. In order to promptly complete the draft Resolution and report to the Government at its regular meeting in October 2016, the Deputy Prime Minister requested the Ministry of Finance to promptly complete the draft Resolution in accordance with Resolution No. 35/NQ-CP; To select the urgent contents to be immediately removed and applied in the shortest period, including reports on current issues of the land rent policy applicable to enterprises. In addition, the Deputy Prime Minister asked the Ministry of Finance to report to the Government on the amendment and supplement to current regulations for long-term implementation. Proposed solutions applied to small and medium enterprises, including start-up enterprises, information technology enterprises must be consistent with the provisions of the draft Law on supporting small and Medium Enterprises. In cases the Law on supporting small and Medium Enterprises do not prescribe the criteria and tax incentives, the provisions of such contents should be supplemented under the draft Resolution for timely implementation in 2017 and 2018. The Ministry of Finance shall report to the Government to submit to the National Assembly on amendment and supplement to the tax laws for long-term implementation. There is no provision on offsetting income from real estate transfer with losses from production and business activities when determining income subject to corporate income tax. The Ministry of Finance shall review and evaluate the implementation of the Law on Corporate Income Tax No. 32/2013/QH13, including this issue to propose to the Government for amendment and supplement of the Law if necessary. The Deputy Prime Minister agrees on the policy of remission of late payment for taxpayers who supply goods and services which are paid by the state budget. This Resolution does not specify provisions on debt remission, tax freezing, late payment, fines for dissolution, bankruptcy because it is not related to enterprises’ issue. In case of necessity, the provisions shall be regulated in other documents. The corporate income tax incentives for investment and renovation of old apartment buildings will be 15%, if they are accounted separately and implemented in 2017 and 2018. The Deputy Prime Minister also asked for a clarification on the impact of the solution to reduce personal income tax to 50% on income from salaries and wages of individuals working in the field of high technology, application of high technology under agriculture sector and processing agricultural products to solve difficulties for businesses. In case of necessity, it shall be applied only to individuals working in the hi-tech sector in small and medium enterprises, sectors and prioritized business lines in 2017 and 2018. In long-term, the Law on Personal Income Tax should be amended and supplemented appropriately. Source: Ministry of Industry and Trade portal (VIR) When facing with complicated terminology, figures on the financial statements of a business, I often ask for help from experts of AASC Auditing Firm. But the conversation with the CEO of the "made in 100% Vietnam" audit firm recently has brought interesting stories beyond the business issues. 1. 13rd, May 1991 is a memorable day with Mr. Doan and his comrades when they were assigned by Ministry of Finance to work at AASC, one of the first two auditing firms in Vietnam. Looking back at the journey of 25 years of development of AASC, including several years as the leader of AASC, he said: "I have something, my it be destined to work with my comrades here when experiencing many obstacles, they always have faith in me." He recalled, the time AASC transformed its model from state-owned companies (under the Ministry of Finance) to limited liability Company with two or more members (in 2007) was a difficult period of the company when number of auditors reduced from 118 auditors to only 36. He said during that period, the stock market and banking sector boomed, attracting many auditors to quit their job or establish new auditing firm. Whereas old members were aware of that the company was facing with lot of challenges and tried to acquire the company. In order to deal with this matter, he and other leaders aimed to quickly stabilize the company’s operations. In the first two years, AASC generated low revenue, but retained customers, strengthen the confidence of the personnel of the company. In 2009, AASC fell to No. 6 on the audit market, but in 2010, the Company has reached the 5th place after Big4 and maintained its position until now. In celebration of 20 anniversary of AASC’s establishment from 5 years ago, former Auditor General, Deputy Prime Minister Vuong Dinh Hue stressed that: "AASC maintained the leading position among Vietnamese auditing firms". Indeed, AASC always proud to be the No. 1 audit company in Vietnamese auditing companies, pure Vietnamese auditing company, Integration without assimilation. Mr. Doan shared his thoughts of what made him most proud of 25 years of driving AASC, which was not the revenue or market share but the cohesion between members, people was together in difficult time and “That was a huge success ". The consistency and cohesion are expressed among members of the Board of Members and within the company. They, together, made the right decisions to lead the company and auditors when they perform the tasks throughout the country to overcome temptation. Members of the Board of Members of AASC currently have 31 members including 16 female members. Audit is a difficult job when it requires auditors to check the figures on financial statements and ensure the compliance with standards and regulations. Besides, not only the long business trip throughout the country, especially in peak season, they must release audit reports to meet the deadline of clients. For women, the challenges seem to be more, because they not only accomplish the assigned task for the company but also they have to take care of their families. 2. Vietnam audit sector was opened freely for foreign audit companies, 5 big audit companies entered the market since 1990. Mr. Doan said, AASC has been integrated since its transformation and learned from Big 6, Big 5 and Big 4 audit companies. Auditors of AASC not only have deep knowledge of regulations, standards in Vietnam as well as the way Vietnamese enterprises doing business in Vietnam, but also they catch up with international standards. Leader of Hoang Huy Group, an enterprise has business with America groups with high demand of financial statements’ quality, said that, they have satisfied with the quality of their financial statements in 2014, 2015, 2016 which were audited by AASC. From January 2011, AASC joined HLB International - A world-wide network of independent accounting firms and business advisers in over 130 countries with more than 1.900 partners, 14.000 staffs and 500 offices, AASC could offer their clients the international service standards that match with AASC’s global strategy. AASC currently has its presence in Laos, Cambodia, Thailand, and Indonesia such as audit of the highway project in Thailand funded by WB's capital; participate in the audit report of the ASEAN secretariat, audit of the offshore investment projects of Vietnam Rubber Group, Vietnam National Chemical Group, Party Central Office, etc. But, he had aware that AASC’s development has been through a lot of obstacles. Vietnam market are competing fiercely, including some tricks such as lower price, "having relationship" with the intermediate, getting customers from other firms, etc. Even Ministry of Finance issued requirements on price frame for audit of project settlement report but there are proposals offer lower price compare to the hurdle requirements. Big companies accept losses in order to gain customers in other fields; other small and medium companies have to lower the price to gain the market share. The competition has gone too far along with consequences. Mr. Doan recommended with Big 4 companies, cooperated and helped small and medium companies in order to strengthen the Vietnam audit sector. 3. Business is the life of every entrepreneur. Mr. Doan has experienced a lot of challenges by participating in the assessment of many major economic cases, which the boundary between the compliance with the law and actual situation is extremely fragile. He had involved in legal affairs in 1988, persistent struggled, defended the right, held the prestige of the company and he was appointed by the Ministry of finance to higher position in the following year. It’s clearly to see that, the field of auditing, evaluation may contain potential risk as other jobs. This year, AASC has entered the age of 25 and the old captain said that in the next 10 years, AASC’s objectives are maintaining the pure Vietnamese auditing firm brand name, where domestic and foreign customers, management agencies, public investment do believe in. The most desire of an experienced auditor, sticking with the market from its early days, is the Vietnamese auditing company will firmly stand and grow in integration as well as establish long-lasting brand name. But he wonders whether Vietnamese auditing companies have enough resources and faith to build such long-lasting brand name. The old captain has been prepared and trained for the next generation. The 10th meetings of the Board of Members in November will deal with this issue and development of AASC in the future. Source: Anh Viet - http://tinnhanhchungkhoan.vn/ “I drank, probably not much, but enough for me to wildly deep into emotions of family where I started” Precious Home - one of the annual events held by the leaders, the Trade Union and the Youth Union of Audit Department No. 7. The program took place on 25, 26 June 2016, at Khoang Xanh – a famous tourist area near the center of Hanoi. A number of activities were organized such as water polo; crossing the river... to reflect strong teamwork spirit. Also, members of Audit Department No.7 experienced best moments together under the program which is combined by sound, lighting and art. Speaking at the event, Mr. Nguyen Ngoc Lan – Senior Manager of Audit Department No.7 said he was pleased that members of the Department spent two days together and showed his proud for the results that the Audit Department No.7 have achieved during the year. He also hoped that this special occasion would bring enthusiasm to each member of Audit Department No.7 to move forward, together. The event was undertaken with exciting repertoires, especially was the theatrical performance by the new comers of the Department. “Khoang Xanh, a sleepless night with fine temperature, some people were gathering around the fire and some at the stilt house. Tonight, we - members of Audit Department No.7 all lied down together, and it seems flush away my worries and nervous in the past few days. I drank, probably not much, but enough for me to wildly deep into emotions of family where I started”. Khoang Xanh, 23h44’ pm, 25 June 2016 These are the feelings of the new comer of Audit Department No.7. From 27 July to 31 July 2016, AASC Auditing Firm Company Limited organized the 2016 HLB International Asia Pacific Regional Conference at JW Marriott Hotel Hanoi. The Conference “Cross-border Investment – Challenges and prospects” was graced by more than 20 members from 19 countries in the region. Honored guest Dr. Vo Tri Thanh, Senior expert, Former Deputy Director of Central Institute for Economic Management attended and delivered speech at the Conference with 2 topics “Regional Economic Overview” and “Doing business in Vietnam and its connection to Asia Pacific”. At the Conference, Deputy General Director Mr. Do Manh Cuong highlighted: "HLB International Conference 2016 is a special occasion for member countries to learn from one another’s experiences, expand the networking and work towards the common goal of HLB network development”. Besides, Chief Executive Officer of HLB International Mr. Robert Gerard Tautges has commented on the investment prospects in Vietnam and said that Vietnam is an important country and the prospects of international investment into Vietnam were endless Furthermore, Mr. Rob has appreciated AASC for its role in the development of HLB International and for the contributions to the growth of Vietnam’s Independent Audit as well as diversified services currently provided to FDI enterprises in the process of expansion and development of business activities in Vietnam. The 2016 HLB International Asia Pacific Regional Conference ended with success, leaving HLB members with a deep impression of Vietnam in general and of AASC in particular. HLB regional conferences are a great opportunity for HLB professionals to network together and get to know each other personally, contributing to the development of economic, thus allowing for the smooth running of clients’ business across borders. Photos of the conference: BBT Hội nghị HLB Quốc tế khu vực châu Á – Thái Bình Dương ngày đầu tiên 28/7 (ĐTCK) Trong con mắt của nhiều nhà đầu tư nước ngoài, Việt Nam là một quốc gia tiềm năng và quan trọng. Đó là chia sẻ của ông Robert Gerard Tautges, Tổng giám đốc HLB International tại Hội nghị với chủ đề “Đầu tư xuyên quốc gia: Thách thức và triển vọng” diễn ra từ ngày 28 - 30/7. Hội nghị đã thu hút đại diện của hơn 20 hãng thành viên thuộc tổ chức HLB quốc tế đến từ 19 quốc gia khu vực châu Á - Thái Bình Dương. Tại Hội nghị, các đại biểu đã chia sẻ quan điểm rằng, Việt Nam tiếp tục hấp dẫn các nhà đầu tư nước ngoài, nhưng sẽ phải cạnh tranh khốc liệt hơn trong khu vực. Thảo luận về tình hình kinh tế thế giới 5 năm qua, thông tin nổi bật mà các đại biểu chia sẻ là tăng trưởng kinh tế thế giới hồi phục khó khăn hơn dự kiến. Cụ thể, số liệu của Tổ chức Tài chính quốc tế (IMF) cho thấy, năm 2010, tăng tưởng kinh tế thế giới đạt 5,2%; từ 2011-2015 lần lượt là 3,9%; 3,2%; 3,4% và 3,1%. Triển vọng kinh tế năm 2016-2017 là yếu và không ổn định, điều này thể hiện qua việc các tổ chức quốc tế liên tục thay đổi dự báo và đưa các các con số bất định. Những thách thức nổi lên chủ yếu do suy giảm ở các nền kinh tế mới nổi như Trung Quốc, Ấn Độ, tăng trưởng kinh tế thế giới hiện đang dưới tiềm năng. Những hệ quả của việc các nước thúc đẩy kinh tế chủ yếu do chính sách đổ tiền, can thiệp thẳng vào thị trường mà không chú trọng đến cải thiện hạ tầng, hoạt động và năng lực của các tổ chức tài chính. TS. Võ Trí Thành, Viện phó Viện Nghiên cứu Quản lý kinh tế Trung ương cho biết, triển vọng của kinh tế thế giới đang phải đối mặt với nhiều rủi ro cao, khiến các nhà đầu tư và người tiêu dùng đều thận trọng. Những cú sốc về giá dầu và các loại hàng hóa khác chưa có dấu hiệu qua đi. Đặc biệt cần lưu ý là Mỹ, châu Âu và Trung Quốc đang tiến hành thắt chặt tiền tệ. Điều này sẽ ảnh hưởng tới chính sách tiền tệ của các nước, đồng thời quan ngại về tác động của Brexit tới kinh tế toàn cầu. Xu hướng đầu tư trên thế giới cũng sẽ chịu ảnh hưởng của các yếu tố như sự cân bằng giữa các ngành kinh tế tạo ra sản phẩm thực và ngành phi vật chất, sự hội nhập của các nền kinh tế, đòi hỏi về sáng tạo và đặc biệt là phát triển bền vững. Các nhà đầu tư và doanh nghiệp cũng cần lưu ý đến tác động, ảnh hưởng lên GDP của Asean ++ FTA - RCEP (xem bảng), ảnh hưởng của TPP, EVFTA và RCEP (xem bảng) Nhận định về triển vọng đầu tư giữa các nước trong khu vực và Việt Nam, ông Robert Gerard Tautges, Tổng giám đốc HLB International cho rằng, không có giới hạn. Trong con mắt của nhiều nhà đầu tư nước ngoài, Việt Nam là một quốc gia tiềm năng và quan trọng. Việt Nam sở hữu nguồn tài nguyên thiên nhiên dồi dào, phong phú và rất nhiều tiềm năng khác mà các quốc gia đang tìm kiếm. Ông Terry Blenkipsop, đại diện cho nhà đầu tư đến từ Australia chia sẻ rằng, ông đến với Hội nghị và Việt Nam lần này nhằm tìm hiểu những ưu đãi mà Việt Nam dành cho các khách hàng, là những nhà đầu tư nước ngoài mà họ đang cung cấp dịch vụ. “Chúng tôi thường xuyên được nghe các thông tin về thị trường Việt Nam. Những điều này rất thu hút đối với khách hàng của chúng tôi trong việc tìm kiếm những cơ hội phát triển kinh doanh. Những tiềm năng mà chúng tôi nhìn thấy ở Việt Nam, đó là một trong những quốc gia phát triển nhanh nhất của khu vực”, ông Terry nhận xét. Giải đáp lý do các nhà đầu tư quan tâm đến Việt Nam thời điểm này, ông Võ Trí Thành cho biết, đó là tư duy cải cách đang khá mạnh mẽ, với kỳ vọng ở các nhà lãnh đạo mới, hệ thống giáo dục được quan tâm chú trọng hơn, môi trường đầu tư kinh doanh dần được cải thiện mạnh mẽ. Song thách thức cạnh tranh với Việt Nam còn rất lớn, vì nhìn vào ASEAN +3 gồm Thailand, Malaysia và Singapore, vẫn có thể thấy những vấn đề mà Việt Nam phải cải thiện, nhằm giảm thiểu chi phí khi nhà đầu tư xin giấy phép hay một số cải cách còn khá chậm chạp khác.” Bà Winnie Wong, đến từ Canada cũng nhắc đến những vấn đề còn gây bất lợi của Việt Nam như cơ sở hạ tầng chưa đồng bộ, thiếu hụt nguồn nhân lực chất lượng cao như tại vị trí như tổng giám đốc hay quản lý cấp trung… HLB Quốc tế là mạng lưới quốc tế các hãng kiểm toán và tư vấn quản trị chuyên nghiệp, với khoảng 21.000 nhân viên thuộc 600 văn phòng tại hơn 130 quốc gia trên thế giới. Hội nghị HLB Quốc tế khu vực châu Á – Thái Bình Dương là hội nghị thường niên do mạng lưới HLB quốc tế chủ trì. Năm 2016, Hãng kiểm toán AASC đăng cai tổ chức sự kiện. Theo đánh giá của ông Robert Gerard Tautges, Tổng giám đốc HLB International, AASC là một hãng thành viên lý tưởng mà HLB tìm kiếm, với vị thế là một hãng kiểm toán uy tín, có trách nhiệm để hỗ trợ khách hàng thiết lập việc kinh doanh tại Việt Nam, giúp giải đáp nhiều vấn đề về thuế, thủ tục hành chính… Nguồn: tinnhanhchungkhoan On July 19, at the Ministry of Finance in response to the campaign “Voluntary Blood Donor Day” with the theme “Connecting hearts, connecting happiness” by Youth Union of Ministry of Finance in collaboration with Trade Union of Ministry of Finance, National Institute of Hematology and Blood Transfusion, AASC Youth Union volunteered with the highest spirit. Derived from the heart and the responsibility to the community, every drop of blood donated contributed significantly to medical care and survival of patients (helped save many lives every year). With the slogan of the Voluntary Blood Donor Day 2016: “New blood – for you and for me”, every member of AASC participated in the campaign has highlighted the traditional solidarity “The good leaves protect the worn-out leaves” of ASSC staff in particular and Vietnamese people in general. Moreover, many AASC members has donated for many times, showing the great spirit of humanity, solidarity, spreading the image and responsibility of AASC not only in Auditing, Accounting and Consulting field, but also raising the awareness of the community. Photos of Voluntary Blood Donor Day: BBT To continue supporting FDI companies to master new tax accounting policies applied since 2016, AASC Limited in cooperation with the CPA Australia Hanoi Office is organizing the Free Conference on "Tax and Accounting in Application for 2016" for foreign invested companies in Hai Phong City. The Conference will be provided by Mrs. Nguyen Thi Cuc – President of the Vietnam Tax Consultants’ Association (VTCA)– Former Vice Director of the General Department of Taxation and Mr. Do Manh Cuong – Member of the Standing Committee of the VTCA – Partner of AASC Ltd who have mass experience in law making, training and interacting with FDI companies. Therefore, the requirements of newly issued regulations on tax and accounting from 2016 will be delivered by the comprehensive manner through illustrative examples, especially the Q&A session, toward the useful benefits for accountants in FDI entities. Registration Time: From 13:00 to 17:30 PM on 15 July 2016 Location: LEVEL Hotel Hai Phong 71 Lach Tray Street, Ngo Quyen District, Hai Phong City Language: Vietnamese Registration deadline is 14 July 2016 via https://goo.gl/TqRbjM (Note: Time and duration of the Conference may be changed toward the actual demand of the participants) Conference Program and Speaker Bio can be found here All detailed information, please contact the representative of the Organizing Committee: Mrs. Nguyen Hoang Lan - Business Development Manager of FDI segment – AASC Ltd. 0912 000 472 | This email address is being protected from spambots. You need JavaScript enabled to view it. After 25 years of building and development, Vietnam’s Independent Auditing has contributed significantly to the development of the country, emphasizing the key role in the market economy, ensuring the transparency of financial information, creating a healthy investment climate. Recognizing the contribution and outstanding achievements of AASC in developing the Vietnam’s Independent Auditing in 2011 to 2016, the Prime Minister awarded the Certificate of Merit to the Company for its efforts and AASC’s Chairman of the Board of Member, General Director Mr.Ngo Duc Doan. At the conference, the Minister of Finance also awarded 03 certificates of Merit to individuals, whose outstanding achievements has contributed to the development of the Vietnam’s Independent Auditing in 2011 - 2016: Deputy General Director Pham Thi Thanh Giang, Head of Quality Control and Training Department Do Ngoc Dung and Auditor Tran Thu Loan. Being aware of the great responsibility for the development of the Vietnam’s Independent Auditing, AASC Board of Directors and all its employees commit to act continuously as a leading role in Vietnam’s Independent Auditing field, strongly integrated with the International, keeping pace with other countries in the region and the world. Photos of the Conference: Deputy General Director Cat Thi Ha AASC received Certification of Merit from the Prime Minister on behalf of AASC Deputy General Director Do Manh Cuong received Certification of Merit on behalf of General Director Ngo Duc Doan. Deputy General Director Pham Thi Thanh Giang, Head of Quality Control and Training Department Do Ngoc Dung and Auditor Tran Thu Loan received Certificates of Merit from the Minister of Finance Musical performance performed by the Youth Union of AASC BBT Following the sequence of events celebrating the 25th anniversary of the establishment of AASC Auditing Firm, and welcome the International Children's Day (1st June) for 3 days from 29 May to 31 May 2016, all officers, staffs of AASC had gathered together at Vinpearl Halong participating in “Hello Summer 2016” program with the theme “AASC - 25 years of aspiration and proud”. The event took place with many attractive group activities, in order to enhance the adherence between divisions/ units of AASC. On behalf of the Board of directors, at Gala Dinner, Deputy General Director Nguyen Quoc Dung highly appreciated the efforts of the Board of Directors, auditors, technicians and staffs of AASC in the past few years and sent his best regards to their family members, who are always stand behind and help them to accomplish the tasks. Besides, on the occasion of International Children’s Day, Mr. Dung also wishes the children healthy, obedient and enjoys the happiness moment with family and friends at Vinpearl Halong 2016. Team building activities took place on the morning of 30 May 2016 in the vibrant atmosphere, reflecting the spirit, culture of AASC on white sand shore. It seems like the sunshine, charming wind of Halong has supported AASC’s outdoor activities more exciting. With exciting games such as pushing the trolley car, walked and hit the ball with duels on muscle strength from four teams has brought the excitement and laughter crisp for everyone. Finally, with highest score the winning prize belongs to “1102” team. Through the meaningful games at this special occasion, AASC’s staffs and officers are closer to each other. In the afternoon of 30 May 2016, the football matches were held with the appearance of four teams coming from the Departments/Units/Branches of AASC. The winner is Audit Department No. 5 Fc. “HELLO SUMMER 2016” has remained in each AASC member with happiness, deep memories, and add strength to all member of AASC to overcome difficulty, prepare for the new journey. This special event also creates value for AASC, strengthen the working environment of openness, sincerity, and promote each individual willing to contribute to our precious AASC. Images at Halong Deputy General Director Nguyen Quoc Dung at the Gala dinner The champion - 1102 team Hello summer - Vinpearl Ha Long BBT Một trong hai công ty kiểm toán đầu tiên trên thị trường, Hãng Kiểm toán AASC, kỷ niệm 25 năm thành lập Ra đời trong bối cảnh đất nước đổi mới, thị trường kiểm toán độc lập Việt Nam đã phát triển song hành cùng sự phát triển của nền kinh tế, của TTCK và trở thành điểm tựa niềm tin của thị trường. 1. Năm 1991, thị trường dịch vụ kiểm toán được hình thành, với việc thành lập hai công ty kiểm toán đầu tiên trực thuộc Bộ Tài chính là VACO (Deloitte ngày nay) và AASC trước đòi hỏi của công cuộc đổi mới, thu hút dòng vốn đầu tư nước ngoài. Qua những bỡ ngỡ ban đầu, thị trường đã hình thành với sự góp mặt của nhiều doanh nghiệp kiểm toán hàng đầu thế giới (Deloitte, KPMG, E&Y, PwC) và bùng nổ từ giai đoạn chuyển đổi doanh nghiệp Nhà nước sang công ty cổ phần và thăng hoa của TTCK. Ở tuổi thứ 25, theo thống kê của Hội Kiểm toán viên hành nghề Việt Nam, thị trường kiểm toán độc lập hiện có 140 công ty đang hoạt động, trong đó có 6 công ty có vốn đầu tư nước ngoài. Số doanh nghiệp kiểm toán thu hẹp so với giai đoạn bùng nổ thành lập công ty kiểm toán những năm 2007 – 2008, nhưng đó là kết quả của sự thanh lọc để thị trường kiểm toán độc lập phát triển quy củ, nền nếp hơn. Những công ty kiểm toán quy mô quá nhỏ, hoạt động yếu kém không đáp ứng được yêu cầu ngày càng chặt chẽ về điều kiện cung cấp dịch vụ buộc phải giải thể, một số công ty chọn cách sáp nhập vào một công ty kiểm toán khác để tăng quy mô kiểm toán viên, khách hàng để đáp ứng đủ điều kiện cung cấp dịch vụ kiểm toán cho các công ty đại chúng, niêm yết… Bên cạnh mảng dịch vụ chính là kiểm toán và soát xét báo cáo tài chính, các dịch vụ kiểm toán và tư vấn khác như kiểm toán quyết toán vốn đầu tư, dịch vụ kế toán, dịch vụ tư vấn thuế, dịch vụ thẩm định giá, dịch vụ tư vấn tài chính… được khối công ty kiểm toán độc lập cung cấp đang đáp ứng nhu cầu ngày càng đa đạng trong nền kinh tế. Số liệu cập nhật nhất của tổ chức nghề nghiệp kiểm toán cũng cho biết, năm 2014, tổng doanh thu toàn thị trường đạt 4.583 tỷ đồng; trong đó, mảng dịch vụ chính yếu của khối công ty kiểm toán là dịch vụ kiểm toán và soát xét báo cáo tài chính là 2.329,76 tỷ đồng, chiếm khoảng 50% cơ cấu doanh thu toàn ngành. Với lĩnh vực kiểm toán báo cáo tài chính, kể từ khi Luật Kiểm toán độc lập ra đời, đối tượng bắt buộc phải kiểm toán báo cáo tài chính năm được mở rộng hơn, bao gồm công ty đại chúng, tổ chức phát hành, CTCK, công ty bảo hiểm, ngân hàng, doanh nghiệp FDI, doanh nghiệp nhà nước và doanh nghiệp có trên 20% vốn góp của Nhà nước… không chỉ mở ra cơ hội phát triển cho ngành kiểm toán độc lập, mà đáp ứng yêu cầu mới của nền kinh tế. Là lĩnh vực hoạt động chuyên môn sâu, đòi hỏi những quy tắc, chuẩn mực nghề nghiệp hết sức chặt chẽ, đến nay, như chia sẻ của PGS. TS. Đặng Thái Hùng, Vụ trưởng Vụ Chế độ kế toán và kiểm toán, Bộ Tài chính, hành lang pháp lý cho hoạt động kiểm toán của Việt Nam đến nay đã tuân thủ các thông lệ, chuẩn mực của quốc tế, gồm Luật Kiểm toán độc lập, nghị định hướng dẫn, hệ thống chuẩn mực kiểm toán và chuẩn mực đạo đức nghề nghiệp. 2. Thị trường kiểm toán Việt Nam đã có bước tiến lớn, nhưng trên con đường song hành cùng sự minh bạch của nền kinh tế, đòi hỏi phải nâng chất hoạt động của khối doanh nghiệp này. Chất lượng dịch vụ kiểm toán không chỉ ảnh hưởng bởi những kiến thức, kinh nghiệm của người làm kiểm toán, mà còn ảnh hưởng rất lớn của đạo đức kiểm toán viên. Hành lang pháp lý cho hành nghề kiểm toán dù đã hoàn thiện, nhưng để kiểm toán viên đi đúng hành lang đó, khâu quản lý, giám sát chất lượng hàng nghề kiểm toán có vai trò rất quan trọng. Nếu như trước kia, việc kiểm soát chất lượng kiểm toán được Bộ Tài chính ủy quyền cho Hội Kiểm toán viên hành nghề Việt Nam thực hiện, phía Ủy ban Chứng khoán thực hiện theo cơ chế phối hợp khi cần kiểm tra chất lượng cuộc kiểm toán theo yêu cầu quản lý, thì từ năm 2014, với Quy chế chấp thuận kiểm toán công ty trên TTCK theo Thông tư 183/2013/TT - BTC, việc kiểm soát chất lượng các công ty kiểm toán tổ chức trong lĩnh vực chứng khoán thuộc thẩm quyền của Ủy ban Chứng khoán Nhà nước. Hàng năm, Bộ Tài chính đều tổ chức các đoàn kiểm tra chất lượng dịch vụ, nhưng việc kiểm tra chỉ thực hiện trên một số công ty và chủ yếu là thực hiện với các công ty có quy mô nhỏ trên thị trường. “Ngay cả việc tổ chức định kỳ ba năm một lần với một doanh nghiệp kiểm toán theo quy định hiện nay cũng là rất khó”, ông Đặng Thái Hùng chia sẻ. Lý do là bộ máy nhân sự của Bộ còn rất mỏng, không thể căng ra quản lý, giám sát khi khối lượng công việc soạn thảo chính sách, chế độ cho lĩnh vực kế toán, kiểm toán quá lớn. Còn về phía Ủy ban Chứng khoán Nhà nước, được biết, kể từ thời điểm được chuyển giao chức năng kiểm soát chất lượng dịch vụ của khối công ty kiểm toán tổ chức niêm yết, công ty đại chúng, trong năm 2014, cơ quan này đã kiểm tra 5 công ty, năm 2015 kiểm tra 6 công ty và dự kiến trong năm nay sẽ kiểm tra 17 công ty. Tại các quốc gia phát triển, sau những bê bối tài chính của doanh nghiệp, công ty kiểm toán cũng sẽ bị liên đới điều tra và trong nhiều trường hợp bị xử phạt rất nặng, thậm chí lâm vào vòng lao lý như trong trường hợp Tập đoàn Enron (Mỹ). Việc nhiều doanh nghiệp bất ngờ thua lỗ, dù chỉ kỳ kế toán trước vẫn báo lãi cao và được kiểm toán chấp nhận là báo cáo “trung thực và hợp lý” như trước kia là Vinashin, DVD hay gần đây là CTCP Y tế Việt Nhật, Tập đoàn Đại Dương và một số ngân hàng 0 đồng… không chỉ khiến thị trường hoang mang về độ tin cậy của các báo cáo kiểm toán, mà còn đặt câu hỏi: Có hay không việc liên đới trách nhiệm của kiểm toán viên? Vì vậy, việc kiểm soát chất lượng dịch vụ kiểm toán, đặc biệt là kiểm tra các hồ sơ kiểm toán công ty có những chiêu làm đẹp báo cáo tài chính là đòi hỏi từ phía thị trường với cơ quan quản lý. Nguồn: http://tinnhanhchungkhoan.vn/ Following the success of the Free Conference on “Guidelines for accounting policies for enterprises under Circular No. 200/2014/TT-BTC” on July 2015, AASC Limited in cooperation with the CPA Australia Hanoi Office is organizing another Free Conference on “Notes on tax finalization for 2015, Practical application of Circular 200/2014/TT-BTC and Tax Update from 2016” targeted the FDI entities in Hanoi and surrounding provinces. The Conference will be provided by Mrs. Nguyen Thi Cuc – President of the Vietnam Tax Consultants’ Association (VTCA)– Former Vice Director of the General Department of Taxation and Mr. Do Manh Cuong – Member of the Standing Committee of the VTCA – Partner of AASC Ltd who have mass experience in law making, training and interacting with FDI companies. Therefore, the requirements on tax finalization in 2015, practical application of Circular 200 and newly issued regulations on tax from 2016 will be delivered by the comprehensive manner through illustrative examples, especially the Q&A session, toward the useful benefits for accountants in FDI entities. Registration Time: From 7:45 to 12:30 AM on 20.5.2016 Location: CPA Australia Hanoi Office Room 1201A, 12th Floor, Tower A, Handi Resco Building, 521 Kim Ma, Hanoi Language: Vietnamese Registration deadline is 19 May 2016 via https://goo.gl/TqRbjM (Note: Time and duration of the Conference may be changed toward the actual demand of the participants) Conference Program and Speaker Bio can be found here All detailed information, please contact the representative of the Organizing Committee: Mrs. Nguyen Hoang Lan - Business Development Manager of FDI segment – AASC Ltd. 0912 000 472 | This email address is being protected from spambots. You need JavaScript enabled to view it. In celebration of the 25th anniversary of establishment of AASC Auditing Firm Company Limited and Vietnam’s independent audit, we would like to introduce the plant symbol of AASC. The plant symbol of AASC is a flowering plant species called Dracaena Fragrans which is a money tree, and fortune plant. The plant consists of three stems with height of 1m, 50cm and 13cm respectively. The stem of 13cm in height rises with 2 branches, symbolizing the commencement of the Vietnam’s independent audit along with the establishments of AASC Auditing Firm (AASC) and Vietnam Auditing Company (VACO). The stem of 50cm in height rises with 6 branches, specifying the period from 2008 to 2010 with 06 biggest Audit firms including AASC. The stem of 1m in height rises with 5 branches, indicating 5 biggest Audit firms in the market, of which AASC is the only local firm. The total numbers of the branches equal to 13 which contain special meaning. Particularly, the milestone on 13 May 1991 was marked with the establishment day of AASC Auditing Firm Company Limited and the commencement of the Vietnam’s independent audit. Images of the Dracaena Fragrans: BBT On 26 April 2016, in Hanoi, AASC auditing firm held the 25th Anniversary celebrations of establishment (13/05/1991 – 13/05/2016). Covered by the theme of “25 years of aspiration and pride”, the ceremony was graced by Former Minister of Finance Mr. Ho Te; Former Deputy Minister of Finance Mr. Vu Mong Giao, Mr. Tran Van Ta, Mr. Nguyen Ngoc Tuan; Director of Department of Accounting and Auditing Regulations (Ministry of Finance) Mr. Dang Thai Hung, Director of Department of Emulation and Commendation (Ministry of Finance) Mr. Nguyen Hung Minh, and other honored clients, partners of AASC. AASC Auditing Firm Company Limited rebranded from Auditing and Accounting Financial Consultancy Services Limited Company (AASC) - Ministry of Finance) was established on 13 May 1991 when the Vietnam’s independent audit commenced. With dedicated, well-trained and experienced employees and over 25 years of building and development, AASC is proud to deliver the best quality services in the field of auditing, accounting, financial and tax consultancy and business evaluation. Specialized services of the Company are highly recognized and trusted by numerous clients, domestic and foreign organizations. During 25 years of operation, AASC has been continuously listed in the top five auditing companies operating in Vietnam, especially with the biggest annual revenue (revenue on project settlement report). To mark the 25th anniversary, AASC has reached the turnover of over VND 150 billion, strengthening the leading position in terms of annual revenue, and number of clients. The Company is also highly appreciated by economic corporations, domestic and foreign enterprises, projects funded by international sources and largest donors. Over a quarter-century of operation, the success of AASC has been built by the efforts, creativity, and perseverance of our people. We understand that the success today is also a driving force for new inspiration in the future, contributing significantly to the development of the Vietnam’s independent audit. Photos of the celebration: General Director Mr. Ngo Duc Doan delivered a welcome speech Director of Department of Accounting and Auditing Regulations (Ministry of Finance) Mr. Dang Thai Hung Director General of Corporation 36 under the Ministry of National Defense, representative of AASC clients delivered a congratulation speech, Colonel Nguyen Dang Giap AASC Board of Directors made a 25th Anniversary toast Musical performance performed by the Youth Union of AASC Repertoire performed by Mr. Dang Thai Hung - Director of Department of Accounting and Auditing Regulations under the Ministry of Finance, Mr. Nguyen Hung Minh - Director of Department of Emulation and Commendation under Ministry of Finance, Mr. Ngo Duc Doan - AASC General Director along with our employees. BBT Towards the 25th anniversary of the establishment of AASC auditing firm (13/05/1991-13/ 05/2016) and the celebration of 60th anniversary of Department of Accounting and Auditing Regulations (11/10/1956-11/10/2016), on 16/04/2016, AASC auditing firm held a mini football championship which include four teams: the home team AASC auditing firm and 03 other teams Department of Accounting and Auditing Regulations - Ministry of Finance, Department of Finance and Accounting - Viettel Corporation, and Vietnam Steel Corporation. Honored guests invited to cheer on the team: Mr. Dang Thai Hung – Director of Department of Accounting and Auditing Regulations, Mr. Dang Hung Minh - Director of the Department of Department of Emulation and Commendation, Mr. Nghiem Xuan Da – General Director of Vietnam Steel Corporation, and Mr. Vu Duy Huynh - Chief Accountant of Vietnam Steel Corporation along with numerous supporters for the teams. At the opening ceremony, two matches between the home team and the Department of Accounting and Auditing Regulations team; between Vietnam Steel Corporation and Viettel Corporation team were undertaken under exciting, enthusiasm, and friendship atmosphere. The pace of the game was accelerated at the early minutes; the players played very energetically, tried their best and dedicated to the audience the most beautiful game. However neither team scored, thus they had to compete in the penalty shoot - outs. The team from Department of Accounting and Auditing Regulations excellently won the triumph, the second title belongs to the team from Viettel Corporation, the third prize belongs to the home team AASC auditing firm, and the special prize belongs to Vietnam Steel Corporation for their fairly performance. This Football Championship was held for the purpose of maintaining and improving the healthy workplace and workforce within the company to better serve the professional work, connect and enhances the friendship between AASC and other precious units that have been stood with AASC throughout its journey during 25 years of building and development. Images of the Football Championship BBT Implementing Directive No. 15/CT-TTg dated 07 July 2015 of the Prime Minister on the continued implementation of Resolution No. 22/NQ-BCT dated 10 April 2013 of the Political bureau on international integration, Vietnam has actively negotiated and signed new free trade agreements (FTAs) with partners. By the end of 2015, Vietnam has signed 10 bilateral and multilateral FTAs (including the ASEAN Free Trade Area, ASEAN Free Trade Area - China, ASEAN - Korea, ASEAN - Japan, Vietnam - Japan, ASEAN - Australia - New Zealand, ASEAN - India, Vietnam - Chile, Vietnam - Korea and Vietnam - Eurasian Economic Union), finished the negotiation of 2 important agreements with EU and USA, announced the completion of the EU-Vietnam free trade agreement (EVFTA, dated 02 December 2015) and negotiated successfully Trans-Pacific Partnership (TPP, dated 05 October 2015). Besides, 2015 marks the year Vietnam officially joined the ASEAN Economic Community (AEC). Therefore, 2015 is considered as pivotal year in the process of international economic integration of Vietnam with important advances. Reached agreements with major trading partners EU-Vietnam free trade agreement Launched from June 2012, EVFTA went through 14 round of negotiation, lasting from October 2012 to August 2015. After finishing basically negotiation of the contents of the agreement dated 04 August 2015 and dealing with technical issues and finalizing the text of agreements dated 02 December 2015, the two sides announced the completion of the negotiation. Vietnam pledged to eliminate tariffs once the Agreement enters into force with elimination of 48.5% of tariff lines, equivalent to 64.5% of imports from EU, and after 10 years with elimination of 99% of tariff lines, equivalent to 99.8% of imports from EU. For the remaining tariff lines, Vietnam will have a roadmap for over 10 years or provide preferential to the EU on the basis of WTO tariff quotas. Trans-Pacific Partnership After 5 years of intense negotiations, TPP agreement between 12 member states officially finished negotiation on 05 October 2015 (expected to be signed in the first quarter of 2016). Vietnam has committed to eliminate tariffs on 66% of tariff lines as soon as TPP takes effect and elimination of 86.5% of tariff lines after 3 years the Agreement came into force. The remaining items will have the schedule on tariff reduction from 4 to 10 years. Some goods are particularly sensitive, Vietnam committed to the roadmap for over 10 years or tariff quota. ASEAN economic integration Joining the AEC, Vietnam not only has to implement trade agreements but also commits to open in many other areas. Officially established in late 2015, AEC includes the three main pillars: the Political-Security Community (ASEAN – ASC), the Economic Community (AEC) and the Socio-Cultural Community (ASEAN - ASCC) and is built on four interrelated and mutually-reinforcing pillars: (i) a single market and production base through free flow of goods, free flow of services, free flow of investment, free flow ò capital, free flow of skilled labor, (ii) a highly competitive economic region shaped from competition policy, consumer protection, intellectual property rights, infrastructure development, taxation, e-commerce (iii) a region of equitable economic development implemented through SME development, initiative for ASEAN Integration, and (iv) a region fully integrated into the global economy through coherent approach towards external economic relations, enhanced participation in global supply networks (WTO). ASEAN Trade in Goods (ASEAN – ATIGA) is also being According to the roadmap commitments of ATIGA, till 2015, the ASEAN countries basically completed the elimination of import tax in the list of common goods. CLMV countries (Cambodia, including Cambodia, Laos, Myanmar and Vietnam) are allowed to remain tariff rate for 7% of tariff lines till 2018. From 2018, Vietnam can only maintain import tax with a maximum tax rate of 5% for around 3% of tariff lines, including mostly the sensitive agricultural commodities (live poultry, meat, eggs, citrus fruits, paddy, brown rice, processed meat, sugar). Two groups of commodities with long roadmap of commitment and no roadmap are gasoline by 2024 and tobacco (which should be provided with a roadmap for tariff reduction in the near future). Besides EVFTA, TPP, AEC in 2015, Vietnam has signed two agreements with South Korea and the Vietnam - Eurasian Economic Union. Thus, it can be said that 2015 has marked the international integration of Vietnam with most major trading partners. Big opportunities for the economy In terms of trade relations, EU, TPP and ASEAN are the leading partners of Vietnam. According to statistics of 2015, Vietnam's exports to TPP countries accounted for the largest proportion. EU is in the second place and the third is the ASEAN countries. In terms of expanding the market EU, TPP and ASEAN are all potential markets for Vietnam’s exports. Once completed, TTP would create the world’s largest free-trade zone with 800 million consumers, making up 40% of global GDP and represent 30% of global trade. Meanwhile with more than 500 million consumers and GDP of more than USD 17,000 billion, EU is a potential market for Vietnam's exports. Currently, Vietnam's exports to EU accounted for about 0.75% of the total import turnover of EU, of which only 40% enjoy the tax rate of 0%, 60% are subjected to different tax rates. Similarly, AEC is also a large market with GDP of over 2.3 billion dollars and growth rate of 5%/year, the population of over 625 million people, young population. This shows that the achievement of the agreements with these partners will open up opportunities for Vietnam’s commodities to access the large-scale market. In terms of benefits of domestic production, the deep tax cuts between the major trading partners will create favorable conditions for enterprises to reduce costs, thereby enhancing the competitiveness of domestic goods, affecting positively on production and domestic consumption. Besides, the implementation of international commitments under the FTA will have an impact on the size of the economy, transfer of technology; foreign investment attraction, reform, policy reform and competitiveness and economic growth in the long term. 2015 also marked the beginning of the roadmap of tariff cuts at the deepest level towards the final commitments on tariff elimination of import tariffs within the FTAs, which Vietnam has signed with key partners such as China Korea and South Korea ... The higher the degree of international economic integration, the higher the benefits of economic integration, however, integration is only a necessary condition, without the preparation and strong domestic reforms, the benefits will pass to the trading partner. Many obstacles to overcome The preparation of Vietnamese enterprises in the context of integration is not sufficient. AEC officially formed at the end of 2015, however according to the survey “AEC in the new context of the world and the participation of Vietnam” implemented by University of Economics, Hanoi National University in nearly 700 small and medium enterprises in 5 provinces: Hanoi, Hai Phong, Ho Chi Minh city, Da Nang, Can Tho; 76% of Vietnamese enterprises 76% of Vietnamese enterprises do not have full awareness of AEC; 94% of enterprises do not have full awareness of the context of negotiation in AEC; 63% of enterprises do not understand opportunities and challenges when Vietnam joins AEC. While the large-scale enterprises or FDI enterprises have certain investigations and studies on the impact of agreements, understand the impact of the integration on the business operations, on imports and exports of enterprises entry of export enterprises, small and medium enterprises Svetlana (major proportion, more than 90% of all enterprises) do not have full awareness, a full assessment of the impact of integration therefore have no preparation and are passive in the integration process. Vietnamese enterprises are not only lack of integration process but also have weak competitiveness. The state-owned enterprises (SOEs) still fails to promote the leading role in shifting the economic structure, innovation and technological development. The private sector is generally small-scale and limited respect to financial capacity, technology; the domestic manufacturing sector has to face competition in price and quality of imported goods. Besides, the structure of exports from Vietnam to the market has not yet changed so strong, still focused mainly on agricultural products, industrial goods using labor intensive and material and energy commodities ... Technical barriers and strict origin requirements will be the factors that would impede the expansion of the export market of Vietnam. Under the terms of the origin of goods proposed in the TPP, export products in the member countries must have intra TPP origin to be eligible to preferential. This is the disadvantage because Vietnam mainly imported from the countries outside the TPP such as China, South Korea for processing exported goods, without conversion material region, Vietnam's exports will not be eligible to tax incentives. Regarding the EU, Vietnam exported to the EU mainly primary products; food products such as vegetables, seafood ... so enterprises will have to adhere to the requirements of hygiene and epidemiology, product quality. EU requires high standards regarding technical, hygiene and product quality that not every business can meet. This result in the significant increase of production costs for Vietnam’s goods exported into the EU and decrease in competitiveness. If Vietnam enterprises exported to the EU do not have full awareness, they therefore cannot take advantage of the tariff preferential, they can even be banned from import, or be subject to high anti-dumping duty in the EU as countries are tend to utilize the barriers ... All analyzes indicate that reaching an agreement with major partners could also be significant challenge for the business community and economy as a whole./. Nguồn: http://www.mof.gov.vn According the General Statistics Office (GSO), as at 20 February 2016, 291 newly licensed projects are approved with total capital over USD1.905 billion, surging 96.6 percent in the number of projects and 167.5 per cent in the level of capital compared to 2015. While another 137 operating projects, which expanded their investments, contributed $898.3 million. GSO noted that disbursements of foreign direct investment (FDI) also recorded a yearly rise of 15.4 per cent to an estimated $1.5 billion compared to 2015. During the reviewed period, the manufacturing and processing sector accounted for more than 71.2 per cent of the total FDI pledged in the country, as it attracted $1.995 billion. This was followed by the entertainment industry, with $210.6 million, accounts for 7.5%, other sector reached USD597.8 million, accounts for 21.3%. In the first two months, Ha Noi retained its position as the most attractive investment destination with $242.4 million in investments, totaling 12.7 per cent of FDI pledged in the country. The northern provinces of Bac Giang and Bac Ninh came in second and third with $206.1 million or 10.8 per cent, and $200.6 million or 10.5 per cent, respectively. They were followed by Ba Ria-Vung Tau Province with USD157.1 million; accounts for 8.2%; HCM City with USD155.9 million; Dong Nai Province with USD142.7 million, accounts for 7.5% and Ha Tinh Province with USD139 million, make of 7.3%; Binh Duong with USD129.7, accounting for 6.8%. Out of 31 nations and territories, Singapore remained Viet Nam's largest source of FDI, with $435.2 million and making up 22.8 per cent of the nation's total new registered FDI in the past two months. It was followed by Malaysia with $233.2 million or 12.2 per cent; South Korea ($202.4 million or 10.6 per cent); and Japan ($160.6 million or 8.4 per cent); Hong Kong ($153.5 or 8.1%; China $141.1 or 7.4%, UK $141, 7.4%, Taiwan $119.8, 6.3%). Source VNS Mr. Doan Xuan Truong – Chief of Office of the General Department of Taxation said that in 2015 theGeneral Department of Taxation has made many reforms in administrative procedures, thereby saving VND 7.000 billion. 7.000 billion is the sum the Vietnamese taxman helped businesses save in 2015 via paperwork streamlining. According to Mr. Truong, the General Department of Taxation has guided the departments and units in reviewing and finalizing legal documents to reduce administrative procedures, tax compliance hours for citizens and businesses By many measures from simplification of administrative procedures to reduction in administratvehours, the time needed for tax payments was cut to 117 hours from 537 hours as previously, thus meeting and exceeding the set-out target under Resolution No. 19 / NQ-CP. Also in 2015, the General Department has requested the Ministry of Finance to reduce 63 administrative procedures and simplify 50 procedures. Thus, after the review, the tax sector has 385 administrative procedures. BBT In the highly enthusiastic and happy atmosphere of the Year of the Monkey, on the morning of 15/02/2016 (The January 8th of the Lunar New Year), Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff of AASC Auditing Firm have jubilantly organized a meeting, celebrating a new year’s eve. This is an annual event and has become a good tradition of the company. On behalf of the Member Board, the Board of General Director, Mr. Ngo Duc Doan, Chairman of the Member Board, General Director of AASC wished all officers, and the whole company staff new year greetings, prosperity, joy and great achievements. In addition, Mr. Doan also believed that in the New Year, all departments and units of AASC with consensus, efforts will strive to accomplish all the assinged tasks, thus positively contribute to the growth of AASC and maintain the leading position of AASC in Vietnamese Indepedence Audit and the region. Image at the meeting: BBT AASC jubilantly organised Workers Conference to welcome new year- Binh Than 2016. Company is honor to welcome the representative from Ministry of Finance, including Mr. Bui Xuan Ngoc- Deputy Chairman of Trade Union, Ms. Le Thi Hoa- Deputy Director of the Central Committee for Propaganda and Education. Speaking at the Conference, Mr. Nguyen Thanh Tung- Standing Deputy General Manager has summarized reports on business activities as well as achievements in the past year, and indicated the direction and strategic plan approved by the Board of Members so as to achieve the sustainable development in next financial year. After that, Mrs. Cat Thi Ha- Deputy General Director- Chairman of Trade Union also reported on the social activities that are implemented by the Trade Union and are received warmly responds from AASC employees as whole. Also at the meeting, the Chairman - Chief Executive Officer - Mr. Ngo Duc Doan affirmed the success of the eighth fiscal year as a result of the effort, unity and determination of all AASC employees and auditors under the leadership and guidance of the Board of Directors and the Board of Members. CEO also hoped that all staff and auditors continuously study so as to improve knowledge, thereby contribute to raising the status of the audit firm in Vietnam and Region Independence Industry. Some pictures at the Conference: The Chairman - Chief Executive Officer - Mr. Ngo Duc Doan speaking at the Conference BBT Within the framework of a series of events towards the 25th anniversary of Vietnamese Independent Audit and AASC Auditing Firm (13 May 1991 – 13 May 2016), on the occasion of the 86th anniversary of the founding of the Communist Party of Vietnam (03 February 2016), the Chairman and General Director – H.E. Ngo Duc Doan, together with representatives of the Board of Directors of AASC Auditing Firm, held a warm meeting in celebration of new monkey year 2016 to express the gratitude to the retired officers who used to hold key positions in finance sector. The meeting was honorably attended by former Deputy Ministers of Finance - Mr. Pham Van Trong, Mr. Tran Van Ta and Mr. Vu Mong Giao; former General Director of AASC – Dr. Pham Huy Doan; former Deputy Head of the National Assembly Budget Committee cum President of the Vietnam Association of Accountants and Auditors (VAA) – Mr. Dang Van Thanh; former Deputy Minister of Finance cum President of Vietnam Valuation Association (VVA) – Mr. Nguyen Ngoc Tuan, along with AASC’s retired officers. In nearly 25 years of establishment, growth and development, AASC Auditing Firm has always been grateful to retired officers for their leadership, guidance and contribution, promoting the firm’s achievements and the overall development of Vietnamese Independent Audit. Also, at the meeting, the Chairman cum General Director of AASC affirmed his belief that all leadership generations would continue to follow, support and motivate AASC Auditing Firm to overcome challenges of integration and to grow prosperity, greatly contributing to Vietnamese Independent Audit. Image of the meeting: BBT BBT We would like to introduce 10 milestones in 2015 of AASC Auditing Firm, closing successful and meaningful financial year. 1. Small and medium companies accelerated cooperation with AASC to develop and increase the fair competition, and customer’s belief and persistently increase revenue as well as auditing and consulting services quality. The small and medium companies cooperate with AASC so as the developments of independent auditing company and Vietnam Independent Auditing industry are acknowledged. 2. Boost valuation service 2015 marks simultaneously development of business valuation service for equitation purposes for some typical State businesses such as Vietnam Cement Industry Corporation, 36 Corporation, Military Petroleum Corporation , Pharmaceutical Corporation ... This is an important cornerstone for strong development and diversified services. 3. Intensive development and Valuation department establishment Catching new trend 2015, AASC established new department specializing in valuation. Company successfully implemented several complex contracts with the cooperation of the Value Management Department- Ministry of Finance and Vietnam Appraisal Association, also marked the deeply specialization in valuation from 1 October 2015. Revenue for valuation services achieved growth of 253 % over the fiscal year VII. 4. Boost strategic cooperation with international training institutions AASC Auditing Firm continues to tighten relations with the reputed International Training Organization such as CPA Australia, ACCA, ICAEW... to enhance staff quality, professionalize service quality and meet the stringent requirements of customers and international standards. At CPA Australia Career expo, AASC has attracted the attention of a large number of candidates and students, shared with the company in its efforts to fulfill the mission of national finances transparency. 5. Revenue in fiscal year VIII achieved over 150 billion dong Revenue in fiscal year VIII reached over 150 billion dong, increase by 10% compared to fiscal year VII. AASC continues to be in TOP 5 companies of Vietnam Independent Auditing Industry. 6. Successful Gala Night 2015 Towards the 25th anniversary celebration of AASC establishment (13 May 1991- 13 May 2015) and the HLB International Conference in Vietnam, AASC Auditing Firm held several events to celebrate and encourage the entire Board of Directors, staff, the auditors and employees of the Company so as to jointly contribute to the prosperity of the company. Gala Night 2015 has gathered and disseminated AASC’s spirit, demonstrated AASC’s culture, illustrated and highlighted the marked position of AASC in Vietnam Independent Auditing Industry. 7. AASC Football Cup 2015 AASC football cup 2015 is one of events towards the 25th anniversary of establishment of the Company and HLB International Conference in Vietnam. The annual AASC football Cup 2015 took place in a spirit of enthusiasm and friendship between the departments and Branches of AASC. The cup left aftertaste for each player and others the happiness and belief that AASC will always be perfect representative of Vietnam Independent Auditing Industry during 25 years of establishment and development. 8. Champion of Friendship Football Cup 2015 Responding to the activities organised by the ministries, departments and industry organizations, AASC had many achievements and won the championship of Friendship Football Cup 2015 hosted by the Vietnam Union of Friendship Organizations. Participating this cup is an opportunity to promote relationship so as to mutually understand between the company and Ministries and the State Departments. 9. Completion of new office procurement in Hochiminh City In 2015, AASC has completed the procurement of new office in Ho Chi Minh City at No. 9, Nguyen Khoai Street, District 4, Hochiminh city. It is expected that the new office of AASC in Ho Chi Minh City will be launched into operation before this Lunar New Year- Binh Than 2016. This is an important event shown bravery and determination of the Board of Members and Directors in promoting, spreading AASC brand extensively and nationally. 10. Successful Board of members’ meeting IX The successful Board of members’ meeting IX recognised the achievements of AASC during 8 years from the transformation (02 July 2007) from the State to two members or more companies, demonstrating the success and solidarity of Board of members. Accordingly, the Board of members has the strategic plan for AASC development to 2020 and vision 2030, spreads brand AASC in regional and international independent auditing industry and always deserves to be the leader of Vietnam Independent Auditing Industry. BBT On 21/12/2015, at AASC’s Headquarter, the Company’s Veterans Association cooperated with General Department organized a meeting toward 71th anniversary of the VPA (22/12/1944-22/12/2015) and 26th anniversary of National Defense Day (22/12/1989-22/12/2015). Attending the meeting were Board of Directors, Company Party, Union and Communist Youth Union as well as members of AASC’s Veterans Association. On this special occasion, people recalled the national heroic tradition and share unforgettable memories between members of AASC veterans. Speaking at the meeting, on behalf of the AASC’s Board of Directors, Deputy General Director Nguyen Thanh Tung expressed his sincere thanks, gratitude the great contribution of veterans and soldiers to their respective country as well as their precious home – AASC. Their determination air from Great Uncle Ho’s spirit, assist them to overcome all difficulties and accomplish all assigned tasks, thus contributing to the development of AASC. Also at this meeting, Chairman of Union, Secretary of the Youth Union has contributed gifts, raised songs and hoped that all veterans and soldiers working at AASC will always be a giant spotlight, along with members of Union, AASC’s Youth Communist together promote the long-lasting AASC brand name. Pictures at the meeting: BBT Toward the 65th Anniversary of Vietnam union of friendship organizations (VUFO) (17/11/1950 – 17/11/2015), in early November 2015, AASC Auditing firm – on behalf of Ministry of Finance took part in and earned the throne of the Football league. This event honorably welcome the distinguish guests: Mr. Don Tuan Phong -VUFO Vice Chairman and General Secretary – and those from Ministry of Planning and Investment, Ministry of Finance, Ministry of Public Security, Commission for Foreign Relations of the Party Central Committee … According to the tournament structure, there are 8 football teams divided into two groups, each group contains 04 teams, in which two teams with high scores will be at semifinals. With enthusiastic and friendship sporting spirit, all players dedicate to their precious audiences the most exciting and emotional matches. AASC Football team – on behalf of Ministry of Finance Communist Youth Union – won the triumph after defeat VUFO team in penalty shoot-outs. The third position belongs to both Ministry of Public Security, and Commission for Foreign Relations of the Party Central Committee team. The Friendship Football league 2015 not only expresses the sporting spirit but also strengthens and maintains the relationship between Communist unions, union members and the government sectors; thus spreading AASC’s branding far and wide across the country. Pictures of the event: the Footbal league champion - AASC Auditing firm Top scorer award BBT On 23/11/2015, AASC Auditing Firm has recently organized the 9th Board of Member’s Meeting at Phu Quoc, Kien Giang, Viet Nam with the appearance of 28 members and 03 distinguished guests: Senior Manager of Foreign Investment Service Department 1, 2 and Audit Department 6 in a jubilant atmosphere to celebrate its achievements in the 8th fiscal year, and maintaining the leading position in the professional audit service. The Ninth Meeting has passed the Financial Statements of the Executive Board with number of highlights: Revenue increased by over 10% compared with the financial year VII, Appraisal services and valuation of enterprises increased by 253, 22% and consulting services rose up 177.42% over the previous year; Report of the Supervisory Board and Report on the eighth financial year. The Member of Management Board of the Company has discussed thoroughly about setting targets, direction, and action plan of AASC auditing firm for the 9th fiscal year. Simultaneously, the Meeting also approved on some new policies; especially through the establishment of Research and Development - Marketing and PR Department, thus help strengthen the position of AASC in the auditing industry and towards the successful implementation of the development strategy of AASC to year 2020 and Vision 2030. At the end of the the meeting, Chairman of the Board of Member, General Director of AASC auditing firm, Mr. Ngo Duc Doan has called for wholehearted contribution of all members for AASC’s development of AASC in the following years. The Chairman also believed that with the right strategy and the consensus of all members, Board of General Directors, auditors, managers and staff, AASC Auditing Firm will develop strongly and stably, being a prime example in the Vietnamese Auditing companies and spreading AASC image to the whole world. The 9th Meeting Pictures: BBT In almost economic sectors of Vietnam, transport is a sector using ODA capital most and earliest, because transport infrastructure investment always goes one-step ahead as a foundation to promote growth of the domestic economic sectors. However, this area requires a large amount of investment capital that cannot meet the demand if only focusing on mobilizing domestic capital. Hence, ODA becomes an important capital source for the State budget and additional external source to meet the demand for development investment capital, to help absorb the modern scientific technology achievements and develop human resources as well as increase the attraction of FDI inflow. On July18, 2015, VEC held a groundbreaking ceremony for Construction and installation Package (J3): Phuoc Khanh Bridge belonging to Ben Luc – Long Thanh highway project (financed by JICA). Sumitomo – Cienco 4 partnership won the bid through extensive international bidding. According to Mr. Mai Tuan Anh - General Director of Vietnam Expressway Corporation (VEC), currently, with the projects using Japanese ODA capital in general and the projects invested by VEC in particular, Vietnam enterprises are able to join if they meet the project requirements of financial capability and professional experience. In expressway construction projects of VEC, typically the project of Ho Chi Minh City-Long Thanh - Dau Giay expressway construction, Vietnam enterprises (including the Contractors belonging to the Ministry of Transport and the Ministry of Defense and the private contractors) participated in 5 of 8 constructions and installation packages financed by JICA. In project of Da Nang-Quang Ngai expressway construction, Vietnam enterprises (including the Contractors belonging to the Ministry of Transport, the Ministry of Construction and the Ministry of Defense and the private contractors) participated in 7 of 8 constructions and installation packages for the component part financed by JICA; the remaining package was performed by Vietnam - Spain contractor consortium. In the project of Ben Luc-Long Thanh expressway construction, Vietnam enterprises (including the Contractors belonging to the Ministry of Transport and the Ministry of Construction) joined together with Japanese contractors as the bid winners of 3 packages using STEP capital of JICA. In the above-mentioned projects, the selection of contractors is performed strictly through international competitive bidding procedures. Thus, presence of Vietnam enterprises in projects using Japanese ODA capital is increasing. For projects that Vietnam contractors joined together with international contractors, especially in the bid packages requiring special and advanced technology, Vietnam enterprises actively received the technology transfer, through which they enhanced their capability of technology and construction management. Previously, due to limitation of financial capability and professional experience for bidding participation, Vietnam enterprises often engaged the bid as subcontractors of international businesses. However, until now, after many years of participation in ODA projects, numerous Vietnam enterprises have enough capability to engage big packages following the international competitive bidding procedures and have won as independent contractors or contractors joining together with international contractors. Vietnamese enterprises will not get any obstacles in participation in ODA projects if they meet the project requirements of financial capability and professional experience. Compete fairly when participating in the international “arena” Before participating in projects using ODA capital, Vietnam enterprises should understand the procedures of donors and international practices thoroughly in order to meet the requirements of technical, financing and experience to be able to participate in bidding in way of fair competition with other international contractors. Currently, ODA projects require a strict contractor selection process following the procedures of international competitive bidding (for large-scale bidding packages) and domestic competitive bidding (for small-scale bidding packages). In fact, numerous Vietnamese contractors has participated in competitive bidding packages and won large-scale packages worth over $100 million (CIENCO4 won the bidding package no. 9 -Ho Chi Minh City-Long Thanh-Dau Giay expressway construction project). Joining together with Japanese contractors in Ben Luc-Long Thanh expressway construction project, Vietnamese contractors such as VINACONEX E&C, CIENCO4 have been participating with significant proportion. “Through the implementation of ODA projects of Vietnam Expressway Corporation, we can see that the participation of Vietnamese enterprises in these projects is increasing, and it shows the growth in all aspects of Vietnamese enterprises”- General Director, Mai Tuan Anh assessed. The importance of ODA for Vietnam’s economic development is as an important additional source of capital for development investment, to absorb scientific achievements, modern technologies and development of human resources. These are basic and long-term benefits to Vietnam, which help in adjusting the economic structure of the country, in increasing ability to attract FDI as well as in creating conditions for expanding investment and development. Source: http://www.mt.gov.vn/vn/Pages/Trangchu.aspx In two days 14/11 and 15/11/2015, AASC Auditing Firm took part in CPA Career Expo 2015 as a strategic partner with CPA in Vietnam. CPA Career Expo 2015 is an international series of events held annually across Asian-Pacific region which focus on finance – accounting industry for students and fresh graduates to gain advice and assistance with career and professional development. Especially, this event also offers participants an opportunity to meet CEO of CPA – Mr.Allex Malley to seek career advice. This Career Expo was held in Viet Nam for the first time, in both HCMC and Hanoi and attended by around 20 country’s leading employers, including AASC Auditing Firm, Big 4 Groups, Grant Thornton, Vietinbank… At the event, AASC’s booth was largely surrounded and attracted by talented students who want further career development. Through this special occasion, in order to accomplish the company’s missions for the period 2015-2020- vision 2030, AASC believe that with long-built reputation, the company always keep attracting, maintaining high quality of staff, growing and competing fairly with Big 4 Groups in Vietnam. Pictures at the Career Expo 2015: Deputy General Director of AASC - Bui Van Thao CEO CPA Australia - Mr. Alex Malley and strategic partner AASC Auditing Firm BBT On 20 October 2015, at the Head office in Hanoi, Trade Union Committee of AASC Auditing Firm held a warm meeting to celebrate female auditors, officers and staffs on the occasion of the 85th anniversary of the Vietnamese Women's Day (20 October 1930 – 20 October 2015). The meeting was well attended by representatives of Board of Directors, Trade Union Committee and managers of all departments. On behalf of Board of Management and Board of Directors, the Chairman and General Director – H.E Ngo Duc Doan presented female auditors, officers and staff with flowers, recognized and praised their achievements, and wished them health, happiness and successful completion of all assigned tasks in order to deserve the title of the Vietnam Women – “Successful in work, dutiful in housework”, and to contribute to the endless development of AASC Auditing Firm. In addition, via the company staff, the Chairman also sent the congratulations to grandmothers and mothers who were, are and will always be a firm pivot and strong support for female auditors, officers and staff to complete all tasks and services across the country. Then, Head of Trade Union Committee - Cat Thi Ha, on behalf of Trade Union Committee and female staff, expressed the special thank to the Chairman, Board of Directors and male staff for deeply caring female staff. Also, she sent the best wishes to female staff for good work and constantly striving for strong growth of AASC. As a part of the meeting, the Youth Union of AASC performed some special repertoires as a meaningful spiritual gift to the Company’ female auditors, officers and staffs in celebration of 20 October. Some images of the meeting: BBT On the evening of 02 October 2015, at the Hanoi Drama Theatre – No. 42 Trang Tien street, Hanoi, AASC Auditing Firm successfully held the AASC Gala 2015. The Gala honorably got the attendances and joy sharing of special guests from Ministry of Finance including Assoc. Prof. Dang Thai Hung – Director General of Department of Accounting and Auditing Regulations, Mr. Nguyen Hung Minh – Director General of Department of Emulation and Commendation and representatives of Communist Party Office of Ministry of Finance as well as families and relatives of the Company’s officers and staffs towards the 25th anniversary of Vietnamese Independent Audit and AASC Auditing Firm (13 May 1991 – 13 May 2016) and the HLB International Conference in Vietnam. On his speech at Gala night, the Chairman and General Director – H.E. Ngo Duc Doan greatly welcomed the attendances of all departments’ performance teams in the whole company’s feverish excitement of successfully implementing and exceeding the 8th financial year plan as well as making achievements in celebration of the events mentioned above. He also wished all departments’ repertoires excellent, impressive and remarkable. The Gala was comprised of two main parts. The greeting part was the blend of teams’ creativity, wit and charm. The second one required departments to demonstrate their talents for singing and dancing as well as their flexibility and variety in performance style. Finally, the Gala was ended with the winning of Audit Department 1; the first and second runners-up were respectively Audit Department 2 and Audit Department 7. The AASC Gala 2015 successfully took place in the convivial atmosphere. All of the Company’s auditors, officers and staffs gathered and spread AASC’s spirit, showing the auditing culture, brightening AASC’s image as the leading auditing company in Vietnam and deserving the first and largest Vietnamese auditing firm. Some images of AASC Gala 2015: The Chairman and General Director – H.E. Ngo Duc Doan made the speech The repertoire of the winning team – Audit Department 1 The mystic Indian dance by Audit Department 6 The colorful performance by Audit Department 7 Gala 2015’s prize award BBT Ban Tổng Giám đốc AASC (ĐTCK) Với việc ký kết hàng loạt hiệp định thương mại tự do, Việt Nam đang hội nhập ngày càng sâu rộng với nền kinh tế thế giới. Theo ông Ngô Đức Đoàn, Chủ tịch HĐTV kiêm Tổng giám đốc Hãng Kiểm toán AASC, song song với cơ hội thì DN dịch vụ kiểm toán trong nước cũng đối mặt với áp lực cạnh tranh lớn hơn. Để duy trì năng lực cạnh tranh, các doanh nghiệp kiểm toán Việt Nam cần phải chú trọng đầu tư, phát triển nguồn nhân lực. Nền kinh tế Việt Nam đang hội nhập mạnh mẽ với thế giới thông qua việc ký kết một loạt hiệp định thương mại tự do, thực hiện nhiều cam kết hội nhập đã ký. Điều này dẫn đến những thay đổi như thế nào trong ngành kế toán, kiểm toán, thưa ông? Việt Nam vừa ký kết hàng loạt hiệp định thương mại tự do (FTA) và dự kiến sẽ chính thức tham gia Cộng đồng Kinh tế ASEAN (AEC) vào cuối năm nay. Việt Nam cũng đang xúc tiến đàm phán để sớm ký Hiệp định Đối tác xuyên Thái Bình Dương (TPP). Thực hiện các hiệp định thương mại tự do, cùng với dòng luân chuyển vốn đầu tư trực tiếp nước ngoài (FDI) đến Việt Nam sẽ tạo thêm nhiều việc làm trong nước, trong đó có lĩnh vực kế toán, kiểm toán. Cùng với đó, các cam kết về tự do di chuyển của người lao động trong khu vực ASEAN cũng mở ra nhiều cơ hội hành nghề ở các quốc gia khác trong khu vực cho các kiểm toán viên Việt Nam. Tuy nhiên, song song với những thuận lợi, cơ hội, sẽ có không ít khó khăn, thách thức về yêu cầu chất lượng báo cáo tài chính và quản trị hoạt động minh bạch. Để duy trì năng lực cạnh tranh, các doanh nghiệp kiểm toán Việt Nam cần phải chú trọng đầu tư, phát triển nguồn nhân lực ít nhất là ngang bằng trình độ khu vực. Ông Ngô Đức Đoàn Cùng với sự phát triển của nền kinh tế, yêu cầu đặt ra với chất lượng báo cáo tài chính cũng như các thông tin về tài chính ngày càng cao. Theo ông, ngành dịch vụ kế toán, kiểm toán Việt Nam có những thuận lợi và khó khăn gì trong việc đáp ứng yêu cầu này? Hệ thống chuẩn mực kiểm toán Việt Nam được ban hành năm 2013 theo hệ thống chuẩn mực kiểm toán quốc tế của Liên đoàn Kế toán quốc tế (IFAC). Việt Nam đã ban hành Luật Kiểm toán độc lập năm 2011 và đang lấy ý kiến cho dự thảo Luật sửa đổi, bổ sung một số điều của Luật Kế toán để tạo tiền đề pháp lý cho sự hình thành hệ thống chuẩn mực kế toán theo các thông lệ của hệ thống chuẩn mực quốc tế. Bộ Tài chính cũng đã ban hành chế độ kế toán doanh nghiệp có hiệu lực từ ngày 1/1/2015 để tạo điều kiện cho các doanh nghiệp làm quen với các thông lệ chung của hệ thống chuẩn mực kế toán quốc tế, tăng cường chất lượng báo cáo tài chính. Song song với việc hoàn thiện hệ thống pháp lý, đội ngũ những người hành nghề kế toán, kiểm toán tại Việt Nam cũng đang phát triển về số lượng, chất lượng và ngày càng có nhiều người đã trở thành hội viên của các hiệp hội kế toán quốc tế chuyên nghiệp như ACCA, CPA Ausatralia, CIMA… Ngoài những thuận lợi nói trên, ngành kế toán, kiểm toán Việt Nam cũng đứng trước nhiều khó khăn. Một số cơ quan quản lý nhà nước nói riêng, những cán bộ quản lý, một bộ phận lớn nhà đầu tư trong nước và người làm công tác kế toán, tài chính nói chung vẫn chưa nhận thức đầy đủ về tầm quan trọng và vai trò của công tác kế toán, cũng như trách nhiệm minh bạch báo cáo tài chính của doanh nghiệp. Theo đó, quá trình áp dụng những thông lệ chung của quốc tế sẽ mất nhiều thời gian và công sức. Về phía các đơn vị cung cấp dịch vụ kế toán và kiểm toán, mặc dù đã có nhiều người hoàn thành các chứng chỉ quốc tế, nhưng số lượng này vẫn còn rất khiêm tốn so với nhu cầu chung của thị trường. Thêm vào đó, các nhân sự này hiện cũng đang chủ yếu làm việc cho các công ty đa quốc gia ở Việt Nam và một số doanh nghiệp kiểm toán lớn. Yếu tố con người và quan điểm về doanh thu, lợi nhuận của doanh nghiệp kiểm toán đóng vai trò quan trọng trong chất lượng dịch vụ. Ông có nhận xét gì về thực tế hoạt động của các doanh nghiệp kiểm toán tại Việt Nam hiện nay? Bộ Tài chính chủ trương quản lý và hỗ trợ các doanh nghiệp hướng tới mục tiêu phát triển bền vững, tăng trưởng hiệu quả và được kiểm soát hoạt động chặt chẽ. Tuy nhiên, nhiều doanh nghiệp nhỏ hiện nay thường chú trọng đến tăng trưởng doanh số, chưa tập trung thỏa đáng cho kiểm soát chất lượng dịch vụ, đào tạo chuyên môn và thiếu đầu tư về trình độ nguồn nhân lực. Nhiều doanh nghiệp nhỏ cạnh tranh thông qua hạ giá phí dẫn đến việc thực hiện dịch vụ không đảm bảo chất lượng, ảnh hưởng chung tới ngành và hình ảnh của chính doanh nghiệp. Do vậy, đây sẽ là những thách thức và là bài toán lớn của doanh nghiệp kiểm toán trong tiến trình hội nhập. Vậy bài toán chất lượng - lợi nhuận được giải quyết ra sao tại AASC? Cùng với nỗ lực thực hiện cam kết về chất lượng dịch vụ phù hợp với quy định và thông lệ chung của các nước trong khu vực và trên thế giới, AASC luôn chú trọng đầu tư về nhân sự, hiện đại hóa và chuyên nghiệp hóa dịch vụ chuyên ngành. Điều này giúp chúng tôi tăng cường chất lượng dịch vụ và hiệu quả hoạt động, đồng thời nâng cao sức cạnh tranh trên thị trường. Chúng tôi luôn thấu hiểu rằng, thành công lớn nhất của AASC là gây dựng, củng cố được niềm tin của các khách hàng. Niềm tin ấy được xây dựng từ nền tảng văn hóa trung thực - uy tín - minh bạch, hun đúc qua nhiều thế hệ và được kế thừa, phát huy trong mỗi hành động và suy nghĩ của mỗi thành viên AASC. Để có thể chủ động tận dụng cơ hội và đối phó với thách thức từ hội nhập mang lại, AASC đã có sự chuẩn bị như thế nào? AASC đã nhận thức, hưởng ứng tích cực và tham gia có trách nhiệm, hiệu quả với tư cách là thành viên của HLB Quốc tế - mạng lưới kế toán và tư vấn quản trị chuyên nghiệp để tiếp nhận kỹ thuật, kinh nghiệm nhằm đáp ứng cho hội nhập. Chúng tôi luôn khuyến khích và tạo điều kiện cho nhân sự giành được các chứng chỉ nghề nghiệp quốc tế như ACA, ACCA, CPA Úc, CPA Mỹ, CIA, CIMA... Hiện tại, AASC có 10 chuyên gia có chứng chỉ quốc tế, 1 chuyên gia Nhật Bản và có 39 nhân viên sắp hoàn thành các chứng chỉ quốc tế nêu trên. Bên cạnh đó, AASC ưu tiên tuyển dụng nhân sự đã có chứng chỉ quốc tế và những chuyên gia có nhiều năm làm việc tại các công ty kiểm toán Big 4. Đến nay, chúng tôi đã đầu tư nhân sự cao cấp ở nhiều khối dịch vụ, tuyển dụng các nhân sự nước ngoài phụ trách khối khách hàng nước ngoài. AASC cũng đang hoàn tất thử nghiệm ứng dụng phần mềm quản lý, phần mềm kiểm toán tiên tiến để đảm bảo chất lượng và hiệu quả cung cấp dịch vụ. AASC đã gần trải qua 25 năm hoạt động, bản thân ông cũng là người có nhiều tâm huyết và trăn trở với nghề. Ông có thể chia sẻ mục tiêu mà AASC hướng đến trong dài hạn? AASC là một trong hai doanh nghiệp kế toán, kiểm toán được thành lập đầu tiên của Việt Nam. Qua gần một phần tư thế kỷ, mặc dù gặp nhiều khó khăn, thách thức, nhưng AASC liên tục phát triển và duy trì sự tăng trưởng bền vững. Theo xếp hạng của Bộ Tài chính, Hội Kiểm toán viên hành nghề Việt Nam (VACPA), AASC cùng 4 công ty kiểm toán Big 4 đang hoạt động tại Việt Nam có doanh thu, khách hàng và đội ngũ kiểm toán viên lớn nhất thị trường. Chúng tôi luôn chú trọng vào việc phát triển nguồn nhân lực chất lượng cao, đào tạo và tăng cường chuyên môn cũng như tạo ra một môi trường làm việc năng động, chuyên nghiệp và văn hóa. Trong kế hoạch thực hiện “Chiến lược kế toán - kiểm toán đến năm 2020, tầm nhìn 2030” đã được Thủ tướng Chính phủ phê duyệt, Bộ Tài chính đưa ra “Đề án xây dựng 2 doanh nghiệp kiểm toán Việt Nam từng bước phát triển ngang tầm Big4 vào năm 2020”, trong đó, Hãng Kiểm toán AASC và Công ty Kiểm toán A&C là hai doanh nghiệp được vinh dự lựa chọn hiện thực hóa chiến lược này. Là một trong số ít cán bộ đầu tiên được Bộ Tài chính giao nhiệm vụ triển khai thực hiện các dịch vụ kế toán, kiểm toán và tư vấn tài chính, thuế…, tôi tin tưởng rằng, trong tương lai, AASC tiếp tục vững bước và sẽ luôn là doanh nghiệp dẫn đầu, từng bước phát triển ngang tầm với các công ty kiểm toán Big4 hoạt động tại Việt Nam. Nguồn:tinnhanhchungkhoan.vn High demand leading to export turnover from this product category of Vietnam to America rising nearly 13% in comparison with the same period last year. According to General Department of Customs, in the first 7 months of this year, turnover from exporting cuttle fish and optopus reached USD 2.566 million, which increased by 12.6% in comparison with the same period of 2014. USA accounted for 1.2% of total Vietnam exported cuttle fish and octopus revenue. The reason of this significantly growth is that America was pushing up importing activities. According to GATS (Global Agriculture Trade System), in the first 4 months this year, America imported 7.812 tons of octopuses which cost over 41.9 million USD with an average cost of 5.31 USD per kg, rised by 76% of weight and 78% of value in comparison with the same period in 2014. Spain and Indonesia are the top countries which export octopuses to America. Meanwhile, China, India and Thailand are the main countries which export cuttle fish. Source: vnexpress newspaper TIMT dotcom Berhad, Malaysia officially giant snap up 25% shares in CMC telecom. Strategic investment agreement signing ceremony between CMC Telecom and TIME dotCom Berhad The strategic investment signing agreement between CMC Telecom and TIME dotcom Berhad with total amount of $12 Million was just made, representing the first foreign ownership in the Vietnam Telecom Industry. “We recognizes the potential growth in Vietnam, and may expand the investment” said Afzal Abdul Rahim, general director of TIME in making the announcement. As TIME representative, CMC Telecom has a record of strong and stable growth in line with TIME’s corporate strategy. Under the terms of agreements, both companies will support each other in developing their technology and services, especially connecting the international telecom infrastructure, creating opportunity for both companies to develop domestic and international customers. Meanwhile, Nguyen Trung Chinh, CMC Corp CEO said: “seeking a foreign strategic partner has been in our agenda and this make CMC Telecom one of the leading telecom infrastructure firms in the region”. Source: vneconomy In the past 8 months, estimately, FDI projects were disbursed $8.5 billion, increasing by 7.6% in comparison with the same period of 2014. According to Foreign Investment Agency (Ministry of Planning and Investment), in 8 months of the year 2015, total new FDI rgistered capital is $13.33 billion, increasing by 30.4% compared with the same period of 2014. Specifically, there are 1,219 new projects granted investment certificates with total registered capital of $7.87 billion, increasing by 8.7% against the same period in 2014. In which, there are 389 projects registered to increase capital with total registered additional capital is 5.46 billion USD, increasing up to 82.8% compared with the same period in 2014. In the past 8 months, foreign investors have invested into 17 sectors. In which, manufacturing and processing industries are sectors attracting the most interest with total newly registered and additional capital of $10.35 billion, accounting for 77.7% of total registered capital. The second rank is the real estate sector with total investment newly registered and additional capital of $1.82 billion, accounting for 13.7% of total investment capital. Next, the wholesale, retail and repair market with total newly registered and additional capital of $311.08 million. Korean is a leading country on FDI capital in 8 months of year 2015 in Vietnam, with an amount of $5.26 billion, accounting for 39.5% of total investment in Vietnam. The 2nd position is England with total registered capital of $1.25 billion, accounting for 9.39% of the total investment. In addition, British Virgin Islands ranks the 3rd position and reaches $973.6 million, accounting for 7.3% of the total investment. In Bac Ninh, total investment of newly registered and additional capital are of $3.33 billion, representing 25% of total registered capital. The 2ndposition is Ho Chi Minh City with total newly registered and additional capital of $2.42 billion, accounting for 18.2%. Especially, Dong Thap and Bac Lieu do not receive any FDI fund. Several major projects were licensed in May 8, 2015 such as: Samsung Display Company Vietnam project (in Yen Phong Industrial Zone 1, Bac Ninh) with an increase in investment capital of $3 billion. This project was licensed in 2014 with the initial capital of $1 billion with the purpose of production, assembly, processing, marketing or sale of monitors. De Vuong Joint Venture Company Ltd (invested in Ho Chi Minh City) with total investment capital of $1.2 billion implemented by Tien Phuoc real estate JSC and Tran Thai real estate Co. Ltd. Joining with the UK-based Denver Power Ltd. Turkish investor has invested $660 million in Dong Nai Hyosung Co., Ltd project in Dong Nai Industrial Zone with the aim of producing and processing the fibers. British Virgin Islands investor has invested $300 million in Worldon Co. Project (Vietnam) in Ho Chi Minh City with the goal of producing luxury garment products. Source: VGP news Towards the anniversary of Independence Day September 2, a short-term loan program for domestic currency with a preferential interest rate for businesses will be performed from August 21 to December 31, 2015 by Agribank. This bank has provided credit package worth of VND 20,000 billion to server a loan program for the traditional and potential enterprise customers who meet the following requirements: The loans of business need to satisfy lending conditions under the current regulations; Credit level of business is at least 30 billion dongs (if lending under credit limit, outstanding balance must reach 90% credit limit), and there is priority for the traditional customers, who have a credit relationship with Agribank. The maximum annual interest rate is 5.5 %. The aim of this program is financing short-term working capital for businesses' production and business projects and providing mid-term as well as long-term loans for implementing investment projects. Therefore, the customers receiving preferential interest rate on the occasion of Independence Day are required to not settle the debt before deadline on the existing loans without the consent of Agribank; In addition, customers are required to transfer their income and loan plan through their accounts opened in the branch at least equivalent to outstanding loan balance ratio of such branch; Simultaneously, enhancing the cross-selling other services of Agribank such as deposits, international settlements, foreign currency trading and other services. Source: http://baocongthuong.com.vn/ With M-Business program, enterprises save up to 15% on the total of cost used. Each subscriber is free up to 150 SMS on-net MobiFone. Applying for enterprises and organizations with 5 postpaid subscribers upwards, M-Business policy provides ssubscribers with preferential prices, supports corporate governance with advance solutions. Joining M-Business, enterprises and organizations will be reduced 50% inter-group call charge compared with the normal on-net charge of MobiFone. Telecommunication demand of corporate customers is increasing. MobiFone also offer an usage cycle with an amount of VND 300,000 to VND 500,000 for only selected enterprises when joining M-Business program. In addition, MobiFone has a special program applied for “Member of Loyalty Program” with many incentives. When registering M-Business, subscribers will become a Gold member or Diamond member. Engaged subscribers will be maintained quick and stable Internet connection, other utility services such as the missed call notification MCA, free data packets MIU and MCA30 in the first cycle for new subscribers to experience. Moreover, MobiFone also has invested in providing internal corporate messaging service-eOne SMS, which is free for the phone number registered in M-Business and not limited number of subscribers. Besides, MobiFone has build and provided separate packages under specialized demand of big enterprises. Source: vnexpress In seven months of year 2015, the Garment sector ranks the second in attracting capital and foreign direct investment (FDI) with more than $1.12 billion, equivalent to 20% of total capital. According to the Foreign Investment Agency, Ministry of Planning and Investment, in total capital of $5.85 billion invested in seven months of year 2015, the garment accounts for more than $1 billion with three major projects. The first project is fiber manufacturing factory project of Turkish investor, which was built in Dong Nai Province with total investment capital up to $660million, highest ever. The next is project of producing industrial products to support the garment sector invested in Binh Duong with investment capital of $274 million of Polytex Far Eastern Ltd. Company (Taiwan). The last is project of Lu Thai –colored fiber plant with total investment of $160.8 million of Hong Kong investor in Tay Ninh province. The opportunities and strengths of this sector have been increasing leading to Vietnam’s garment sector attracted more capital from FDI investment in recent years. Vietnam is engaged in duty free playground with many countries in the world, in which there are 8 free trade agreements with most major countries such as USA, Japan, Korea, EU.. These are main garment export markets of Vietnam. According to the Department of Trade Promotion and Ministry of Industry and Trade, export turnover of Vietnam’s garment to the EU without Free Trade Agreement (FTA) gained only about $300 million/year. However, since Vietnam-EU Free Trade Agreement takes effect, export turnover will grow about 50% in the first year and 20% in subsequent years. Furthermore, if Trans-Pacific Strategic Economic Partnership Agreement (TPP) is adopted, Vietnam garment’s products exporting to US and EU will be deducted to 0% tax that leads to greater competitive advantage. In general, with number of advantages gained from the Free Trade Agreements, Vietnam is becoming a potential ground for foreign garment companies investing to. Source: http://news.chinhphu.vn/ The State Bank of Vietnam increased exchange rate by 1% and expands exchange rate band to 1% on August 19. Commenting on this, Mr. Pham Hong Hai-General Director of HSBC Vietnam said that this action reduces pressure of selling reserve foreign currency to the market, simultaneously; he advises enterprises should not trade the US dollar. According to Mr. Hai, the State Bank of Vietnam expands USD/VND exchange rate band on August 12, 2015, immediately after the adjustment of USD/CNY exchange rate from China is a quick move and is a first-time-ever action happens in Vietnam. That signal proves the State Bank of Vietnam is capable of handling challenges and considered as an essential step to stabilize the market. This adjustment contributes to reducing the pressure of selling reserve foreign currency to the market, which is not a sustainable step if continue. Mr. Hai also mentioned that if enterprises purchase the USD under fluctuation, it would create unfavorably condition to the market place. Usually, after the unstable period, the market would set up a new equilibrium. His suggests enterprises should mentally stay focus and actively manage exchange rate risk instead of counting on exchange rate protections from State Bank of Vietnam. In fact, this fluctuation indicates that unexpected changes on the world market will affect Vietnam market. In the future, China may cut interest rate, FED increases interest rate, and thus pushing RMB continues to depreciate. Due to this result, Vietnam should have flexible adjustments. Therefore, as soon as the market stabilizes, enterprises should adopt risk management policies in order to avoid unexpected fluctuations of market in the future. Besides, Vietnam still competes with China from commodity types to export market. In the long-term, we should invest in quality, thereby improving competitive advantage and status of Vietnam goods. Source: Vietnam Investment Review On August 19, 2015, the State Bank of Vietnam has decided to adjust exchange rate USD/VND. Accordingly, the average inter-bank VND/USD exchange rate increases from 21.673 to 21.890 (by +1%), at the same time, the exchange rate go up from +/-2% to +/-3%. After the decision of expanding USA/VND exchange rate to +/-2%, Vietnam has been facing depreciation of VND against USD on average in the region since beginning of the year. Overall, we think that the adjustment of exchange rate and increasing USD/VND exchange rate is an appropriate step to minimize the impact of devaluation of Chinese Yuan (CNY) to domestic economy. The expansion and adjustment of exchange rate will benefit export corporates. However, depending on the monetary policy of China and the flexibility in political management of Vietnam, there are certain influences on sectors as well as domestic manufacturing companies. According to the General Statistics Office of Vietnam, the most exporting items are computers, electronic products and components, textile, footwear, agricultural, forestry and aquatic products. The listed companies mainly focuson exporting likeTCM, KMR, GTN, VHC, HVG, TTF, GDT could benefit from the adjustment of USD/VND exchange rate. However, many enterprises, which have huge foreign currency loans as VOS, VNA, PVT, NT2 may be affected negatively. Some enterprises, which borrow and generate income in foreign currency, will not be affected significantly when USD/VND exchange rate is adjusted as PVD. Especially, there are various risks to the shipping industry in which debt ratio is high, and potentially affected by the devaluation of VND due to loan borrowing in foreign currencies (mainly USD). On average, the shipping industry with debt/equity ratio stands at 0.87 while other companies are up to 3.7. Source: Vietnam Investment Review On July 21, 2015, and July 24, 2015, AASC Auditing Firm Company Limited in cooperation with CPA Viet Nam held a seminar “Guidance on the implementation of Circular No 200/2014/TT-BTC” for FDI entities operating in Vietnam. There were more than 70 typical firms came to the event such as: Kobelco Compressor Vietnam Limited Company; Euro window Vietnam Limited Company, English Council, MSIG Insurance Viet Nam Limited Company, Language Link, Lock n Lock Vietnam Limited Company; Đông Anh Hyundai Steel Limited Company, etc. The program not only introduced the important changes in the Circular, but also provided some suggestions and guidance on preparing financial report. At this Seminar, AASC’s experts spent time to address the problems and supported FDI entities how to achieve high performance. AASC’s deputy director, Mr. Do Manh Cuong said:”AASC Auditing Firm Company Limited is one of the first two Vietnamese legal organizations operating in the field of auditing, accounting, financial and tax consultancy. Currently, AASC Auditing Firm is regarding as the first and the leading provider of professional services among Vietnam auditing firms in the field of annual revenue and number of auditors. With professional auditors in auditing FDI firm fields, AASC believes that it is always an organization, which brings the trust and creates the value services aims to help companies in enhancing effective financing management and improving stable business in Vietnam”. On July 13 2015, Ministry of Finance trade union organised a sporting event to celebrate the 70th anniversary of Vietnam finance sector (28/08/1945-28/08/2015) at the stadium in Cau Giay District. The tournament takes place over 4 days from July 13 -14, 2015; and from July 20-21, 2015. It gathered more than 400 amateur athletes, who coming from 36 units of the Ministry, the General Department, Enterprises under the Ministry of Finance and the Hanoi Department’s Finance agency such as: Finance Department, Tax Department, Customs Department, the State Treasury, the State reserve Bureau, AASC Auditing Firm, etc. They played in 3 sets subjects including table tennis, badminton, tennis. The Vice Minister-president of the Trade Union of Finance, Vu Thi Mai attended and spoke at the opening ceremony. Even during the period of semi-annual audit, but AASC Auditing Firm had responded positively and created favorable conditions for the athletes participating with the spirit of exchange of learning, physical exercise as well as desire for enhancing the alignment with other units. The company’s athletes delegation consists of 6 members competed in 4 categories of competition under the table tennis and badminton. End of tournament, auditor assistant, Pham Ngoc Ha (auditor assistant of Audit Department 5) had won the second prize of the badminton men’s singles, and Ms.Tran Thi Mai Huong (Audit Department 5) won the third prize of the table tennis women’s singles. These proudly results became the premise and motivation for AASC to accomplish more in the future. Photos of the event Vice Minister - President of Trade Union of Ministry of Finance - Vu Thi Mai spoke at the event President of Trade Union gave flowers to AASC's athletes Pham Ngoc Ha won the second prize of Badminton men singles BBT From June 22 to July 4, 2015, the Quality Control and Training Department and the General Department had organized successfully training course for 94 new staffs of AASC Auditing Firm in 2015. During two weeks of training, all the participants had studied hard, improved professional knowledge and learned practical experience from company’s excellence lecturers. Finish training program, the practitioners had been enrich the basic requirements as to work in a professional environment as well as the knowledge and skills needed to be able to directly involve in the audit engagement. At the closing ceremony, Mr.Ngo Duc Doan - General Director of AASC Auditing Firm congratulated and commended new staff with high achievement and encouraged some to improve their engagements. Besides, he assigned unit leaders continue to guide and mentor the new staffs of AASC in implementing and completing the required assignments. Moreover, Chairman of the Board of Members of AASC stress the importance of constantly learning, improving professional skills, cultivating professional ethics, sense of discipline and stable mentallity towards performing and accomplishing all the entrusted tasks. On behalf of all new employees, auditor assistant, Mr.Tong Van Son expressed his gradtitute as a member of AASC, and said thanks to the company’s Board of Directors in organizing useful training course for the new staffs while committing to contribute to further development of the company. Another auditor assistant, Mr.Dam Tuan Anh, a new employee of AASC in Ho Chi Minh shows his delight when joining in the company’s training course. Along with the opportunity to learn, exchange of expertise, he had been involved inextracurricular activities, towards increasing the solidarity and friendship with students in Hanoi and Quang Ninh branch. AASC hope and trust that all new commers will become excellent auditors, who devote their efforts to the overall success of AASC. Pictures at the training class Ngo Duc Doan - General Director of AASC - spoke at the training course Tong Van Son - new employee - expressed his feeling at the ceremony BBT The issuance of Circular No. 200/2014/TT-BTC dated 22 December 2014 by the Ministry of Finance (Circular 200), including many important changes in terms of its concepts and methods, is now the top concern of accountants in enterprises generally and FDI entities particularly. To meet this demand, AASC Limited in cooperation with the CPA Australia Hanoi Office is organizing a Free Conference on "Guidelines for accounting policies for enterprises under Circular No. 200/2014/TT-BTC" targeted the FDI entities in Hanoi and surrounding provinces. The conference will introduce comprehensively the important changes of the new accounting system, especially our focus on the common concerns of the FDI’s. At the Conference, our speakers will save more time for the Q&A section to share the day-to-day issues and situations relevant to FDI entities in order to address some of your difficulties in complying with requirements of the new accounting policy. The Conference will be provided by the AASC’s experienced experts who are familiar with financial/accounting activities of FDI entities. Therefore, the requirements of Circular 200 will be delivered by the practical, understandable manner through illustrative examples toward the useful benefits for accountants in FDI entities. Registration We will have 02 conferences in Hanoi detailed as follows: Time: From 7:45 to 12:30 AM on 21.7.2015 or 24.7.2015 Location: CPA Australia Hanoi Office Room 1201A, 12th Floor, Tower A, Handi Resco Building, 521 Kim Ma, Hanoi Language: Vietnamese Each conference will be for about 80 participants. Registration deadline is 12.7.2015 under first come first serve. Conference Program and Speaker Bio can be found here. All detailed information, please contact the representative of the Organizing Committee: Mrs. Nguyen Hoang Lan - Business Development Manager – AASC Ltd. (04) 3824 1990 (ext 101) | This email address is being protected from spambots. You need JavaScript enabled to view it. Recently, in Hanoi, AASC Auditing firm had collaborated with 1C Community and 1 VS company organizing a seminar "Guidance on the enterprise accounting regime in accordance with Circular No 200/2014 / TT-BTC (referred to as Circular 200) to assist businesses in general administration and financial risk management. The congress was attended by prestigious and experienced speaker Ms. Ha Thi Ngoc Ha-Deputy Director of Accounting and Auditing Regulators Department- Ministry of Finance, Vice President-Head of Vietnam Association of Certified Public Accountants (VACPA). 1C Community, AASC Auditing Firm Company, 1 VS company, and about 300 guests who working under Finance and Accounting field. Circular 200 marked changes in both thinking and approaches in order to bridge the gap between Vietnam’s accounting standard and international. Therefore, the Circular challenges not just for accountants in corporate governance in general but accounting system in particular. Through this seminar, speakers Ms.Ha Thi Ngoc Ha had shared and guided the new content of the Circular as well as address obstacles which enterprises facing, thereby assissting firms apply a new accounting regime in an effective manner. At the seminar, the Deputy General Director of AASC Auditing Firm, Mr. Do Manh Cuong expressed his attitude toward the success of the Seminar because it had helped many enterprises overcome troubles in order to implement the new content. Also, he confirmed that AASC Auditing Firm always strives to provide professional services to customers. In the future, the AASC Auditing Firm will continue to coordinate with other units to organize more useful seminars and training courses which lead enterprises enhancing the efficiency of financial management and accounting regime towards the objective of sustainable development andprosperity. Pictures at the Congress: BBT On May 19, 2015, AASC Auditing Firm Company held its congress party in tenure 2015-2020 to celebrate the 125th anniversary of President Ho Chi Minh‘s birthday(19/05/1890-19 /05/2015). The congress participation consists of Mr. Ngo Huu Loi - Member of the Executive Committee Party, Director General of Department of Legal Affairs- Ministry of Finance, Mr. Tran Xuan Tu - Chief of Office Party of Ministry of Finance; Mr. Do Le Tuan - Deputy Head of Public Relations Committee Party of Ministry of Finance, AASC’s Executive Committee Party and a large of party members, who are working at AASC Auditing Firm. At the congress, the Party Secretary, Chairman of Board of Members and General Director of AASC Auditing Firm’s, Mr.Ngo Duc Doan presented the report which summarizing the results of the party tenure 2013 - 2015, the tasks for the tenure 2015 – 2020 of AASC’s party. In the context of Vietnam's economic downturn and political ideology declined, many enterprises were dissolved, however, with solidarity and high determination, AASC’s Executive Committee Party has coordinated closely with the company’s Board of Directors in order to accomplish assigned political duties to maintain sustainable development therefore ensuring the leading position among independent audit firms in Vietnam. The company always complies with the Party's resolutions aiming to build a clean and strong Party’s environment. The secretary, Mr. Ngo Duc Doan reminds all AASC’s party members always improving knowledge and ethics, learn and perform following Ho Chi Minh’s thought. Besides that, it is necessary to be proactive and creative in order to contribute effectively for the growth of AASC’s party as well as the development of AASC Auditing Firm. Spoke at the event, Mr. Ngo Huu Loi recognized and praised the achievements of AASC’s party in tenure 2013 – 2015, also he pointed out the limitations, which needed to overcome in the party’s activities. On the other hand, he shared the orientation and effective solutions in order to improve company's party performance for the upcoming tenure 2015-2020. End of conference, the secretary, Mr. Ngo Duc Doan expressed his attitude to the Executive Committee Party of Ministry of Finance and the delegation team. He believes that with the directive of AASC’s Executive Committee Party in new tenure (2015-2020), the concern of Ministry of Finance Party as well as the cohession of all party members, AASC’s Party will continue to accomplish more brilliant achievements, thus, leading AASC Auditing Firm on par with Big 4 in Vietnam. Pictures at the Congress The Party Secretary, Chairman of Board of Members and General Director of AASC Auditing Firm presented the report Mr. Ngo Huu Loi - Member of the Executive Committee Party, Director General of Department of Legal Affairs- Ministry of Finance recognized and praised the achievements of AASC’s party in tenure 2013 – 2015 AASC’s Executive Committee Party in tenure 2015-2020 BBT May 13, 2015 - In Hanoi, AASC Auditing Firm jubilantly organized a ceremony marking 24th anniversary of AASC establishment, 8th anniversary of the successful auction to transfer AASC from a SOE to a limited company with more than two members, 2nd anniversary of launching AASC’s new brand name (17/05/2013-17/05/2015). For 24 years of operation, AASC has continuously developed and maintained sustainable growth to stand at the top position among Vietnamese Independent Auditing Firm. Attendees at the ceremony include former leaders of Ministry of Finance (MoF): Former Finance Minister Ho Te, former Deputy Minister Pham Van Trong. Vu Mong Giao, Tran Van Ta, Nguyen Ngoc Tuan, Chairman of Vietnam Association of Certified Public Accountants (VACPA), former Deputy Minister Pham Sy Danh. Speaking at the ceremony, AASC Chairman of the Member Board, General Director Ngo Duc Doan reviewed golden milestones in the development of the Company, particularly the transformation from a State-owned enterprise (SOE) to a limited company on July 2, 2007, which marked a significant change in AASC’s operation. The General Director also expressed his sincere thanks to distinguished guests for their support and encouragement throughout AASC transition moments. AASC always treasure and promote the noble tradition as one of the two first accounting and auditing companies established by MoF in Vietnam. In addition, AASC has positive contribution to the development of Vietnam independent audit profession, Vietnam Association of Certified Public Accountants (VACPA), Vietnam Association of Accountants and Auditors (VAA) and other professional associations in Vietnam, etc. Also at the ceremony, former Finance Minister Ho Te shared about difficulties and challenges that AASC and Vietnam Independent Audit Profession encountered at the beginning. However, with the consensus reached by all members, leaders, auditors and AASC staff, AASC has overcome all obstacles and achieve successes today. Chairman of VACPA Pham Sy Danh recognized all the efforts and results of the Company in nearly 24 years of operation as well as encouraged AASC to mobilize its strengths and strengthen quality control system in order to maintain its leading position among Vietnamese auditing firms and gradually narrow the gap with the Big 4 auditing firms operating in Vietnam. Photos of the ceremony AASC Chairman of the Member Board, General Director Ngo Duc Doan delivered speech at the ceremony Former Finance Minister Ho Te shared about difficulties at the beginning of Vietnam Audit Profession and AASC establishment Leaders of AASC, former leaders of MoF and other distinguished guests at the ceremony BBT To commemorate the 24th anniversary of the establishment of AASC Auditing Firm Company Limited, as well as the establishment of the Vietnamese Independent Auditing Sector, the Editorial Board publishes in honor the speech of Mr.Ngo Duc Doan- AASC Chairman of the Member Board, Secretary Committee Party, and General Director as bellows: THE SPEECH AT THE CEREMONY MARKING 24TH ANNIVERSARY OF AASC ESTABLISHMENT (13/05/1991-13/05/2015) Dear former leaders from Ministry of Finance and Finance Departments, Dear distinguished guests, Dear the members of the Member Board, the Leader of AASC Auditing Firm and colleagues, There are number of milestones commemorating the historic May. For the world, on 1/5-the International Labour Day, 09/05/1945-the Red Army defeated Nazi Germany. For Vietnam, on 19/05/1890 celebrated the birthday of Ho Chi Minh President; on 09/05/1954 saw the Dien Bien Phu victory. For AASC Auditing Firm (known as Auditing and Accounting Financial Consultancy Services Limited Company before) on 13/05/1991 marked the foundation of the Company since Mr. Hoang Quy- Former Minister of Finance signed the establishment decision. Further, 02/05/2007, AASC held a successful auction to transform AASC from a State-owned enterprise into a Limited company with more than two members. 17/05/2013 is the date of publication of the company’s brand and renamed as AASC Auditing Firm Company Limited. 24 years ago on 21/09/1991, Mr. Ho Te-Former Finance Minister held a press conference at the Hall of Finance Academy - located at number 8, Phan Huy Chu - introducing the establishment of the first two companies of Vietnam Independent Auditing Profession: ASC Accounting Service Company and VACO Auditing Service Company. Also at this historic place, 8 years ago, on 26/03/2007, Mr. Tran Van Ta-Former Standing Finance Deputy Minister and Leaders of Ministry of Finance signed the decision implementing procedures to transform business structure from Auditing and Accounting Financial Consultancy Services Limited Company into a Limited company with more than two members, as AASC Auditing Firm Company Limited today. On 13/05/2015, AASC Party, AASC Board of Members and Board of Directors held a ceremony marking 24th anniversary of the establishment of both AASC Auditing Firm and Vietnam Independent Auditing Profession (13/05/1991-13 05/2015), 8 years of organizing successful auctions (02/05/2007 - 02/05/2015) and 2 years of introducing the new brand AASC (17/05/2013-17/05/2015). Dear distinguished guests, Dear AASC’s Board of Members, and colleagues, Through 24 years of operation with16 years is a State-owned enterprise under the leadership and guidance of the Ministry of Finance, 8 years is a Limited company with more than two members, AASC today deserves as the leader of Vietnam Auditing Company Profession. AASC and its members achieve many honor awards from the Party and State: 1st place Labor Medal, 2nd place Labor Medal and 3rd place Labor Medal, Government’s Emulation Flag. Beside that are the Merit from the Prime Minister, Emulation Flag and Merit from Minister of Finance as well as from Chairman of Hanoi People’s Committee, the award of Vietnam Association of Certified Public Accountants (VACPA), Vietnam Union of Science & Technology Association (VUSTA) for outstanding achievements of: 1. Leading in annual revenue 2. Increasing in annual amount to State Budget 3. Leading in settlement reports of completed projects 4. Nearly100 Auditors in which nine of them have International Certificate: ACCA, CPA Australia, and CPA US and a number of Pricing Appraisers who have professional skills, and business ethics 5. Expanding Audit, Valuation and Advisory services, etc 6. Cooperation, competition with the Big 4 Group operating in Vietnam 7. Cooperation, assistance for other Vietnam Auditing Firms AASC always cherishes, preserves and promotes the image and tradition of an auditing and accounting company, which is the first and leading company established in Vietnam by Ministry of Finance in the field. AASC responded positively and greatly contributed to Vietnam Independent Auditing Profession, Vietnam Association of Certified Public Accountants (VACPA), Vietnam Association of Accountants and Auditors, Vietnam Valuation Association (VAA) and Vietnam Tax Consultants' Association (VTCA). Towards the celebration of this glorious traditional day (13/05/1991), AASC Board of Members, AASC Party Committee and the Board of Directors would like to express a deep gratitude to the Generation Leadership of Ministry of Finance, clients, partners and distinguished guests who attend the meeting today. Wish the Ministry of Finance’s former leaders, distinguished guests healthy, happy and we hope to receive more encouragement and assistance from all. Wish AASC Member Council, colleagues healthy to perform and accomplish successfully assigned tasks towards sustainable development and prosperity of AASC. Thank you all for your attendance! BBT - Time: All day 15/05/2015 (Friday, 8am-5pm) - Address: No 19, Le Thanh Tong Street, Hanoi (Nguy Nhu Kon Tum Hall- College of Natural Science) - Lecturer: Ms. Ha Thi Ngoc Ha-Deputy Director of Accounting and Auditing Regime Department-Ministry of Finance, Vice President- Head Inspector of Vietnam Association of Certified Public Accountants (VACPA) - Entry fees: Free - Document fees: VND 30.000 (compulsory) - Organizer: “1C Community” Club under the sponsorship of AASC Auditing Firm and 1VS Company - Register to attend: Number of guests is limited (150 guests), who come first serves first. Thực hiện Nghị quyết của Đảng Bộ Công ty TNHH Hãng Kiểm toán AASC về việc tổ chức Đại hội các Chi bộ trực thuộc hướng tới Đại hội Đảng bộ AASC nhiệm kỳ 2015 - 2017, ngày 17/04/2015, Chi bộ 1 đã tổ chức thí điểm Đại hội lần thứ III (nhiệm kỳ 2015 - 2017) nhằm tổng kết việc thực hiện Nghị quyết Đại hội Chi bộ nhiệm kỳ 2012-2015, đồng thời đề ra phương hướng nhiệm vụ của Chi bộ nhiệm kỳ 2015-2017. Theo sự phân công, Bí thư Chi bộ 1 Hoàng San đã trình bày Báo cáo tổng kết công tác Đảng Chi bộ 1 nhiệm kỳ 2012 - 2015, phương hướng nhiệm vụ nhiệm kỳ 2015 - 2017. Báo cáo đã nêu rõ những thành tích mà Chi bộ 1 Đảng bộ AASC đã đạt được trong nhiệm kỳ vừa qua trong công tác chấp hành các Chỉ thị Nghị quyết của Đảng ủy Bộ Tài chính, của Đảng bộ công ty, tổ chức thực hiện và hoàn thành tốt nhiệm vụ chính trị mà Đảng bộ Công ty giao; Tích cực hỗ trợ các Phòng, Ban công ty thực hiện nhiệm vụ chuyên môn, góp phần nâng Hãng Kiểm toán AASC lên vị thế đầu đàn trong Hệ thống các Công ty Kiểm toán của Việt Nam. Chi bộ 1 cũng luôn phấn đấu xây dựng Chi bộ trong sạch, vững mạnh đồng thời chú trọng rèn luyện, bồi dưỡng và thực hiện tốt công tác Đảng. Nhiệm kỳ qua Chi bộ đã cử 05 quần chúng ưu tú tham gia lớp Đối tượng kết nạp Đảng và đã kết nạp 03 Đảng viên mới, nâng tổng số Đảng viên của Chi bộ lên 10 Đảng viên. Năm 2013 và năm 2014, Chi bộ được Đảng uỷ Khối Cơ quan Bộ Tài chính công nhận là Chi bộ trong sạch vững mạnh. Đại hội đã kiểm điểm, rút kinh nghiệm về tồn tại, hạn chế của Chi bộ trong nhiệm kỳ 2012-2015 đồng thời tiếp thu ý kiến của các Đại biểu đại diện các Chi bộ dự Đại hội và ý kiến chỉ đạo của Đảng ủy Công ty thông qua đồng chí Bí thư Đảng bộ Công ty phát biểu tại Đại hội. Đại hội cũng đã tín nhiệm bầu đồng chí Nguyễn Lan Anh giữ chức vụ Bí thư Chi bộ, đồng chí Lê Thị Thu Hiền giữ chức vụ Phó Bí thư Chi bộ nhiệm kỳ 2015 - 2017. Có thể nói, Đại hội Chi bộ không chỉ là đợt sinh hoạt chính trị sâu rộng của Cán bộ nhân viên đơn vị mà còn là dịp để mỗi Cán bộ Đảng viên tự kiểm điểm lại mình, từ đó có sự chuyển biến trong nhận thức và hành động, góp phần thực hiện thắng lợi Nghị quyết Đảng bộ đề ra. Thành công của Đại hội còn mang một ý nghĩa quan trọng bởi đây là đại hội đầu tiên của toàn Đảng bộ Công ty, là cơ sở để các Chi bộ trực thuộc Đảng bộ Công ty rút kinh nghiệm tổ chức Đại hội Chi bộ, hướng tới thành công Đại hội Đảng bộ AASC, Đại hội Đảng bộ Bộ Tài chính và Đại hội Đại biểu toàn quốc lần thứ XII của Đảng. Hình ảnh tại Đại hội BBT (Stock Investment) The market for Financial Audit and Consultancy services is growing in potential but the competitive pressures in this field are still not cool down due to the market expansion strategy of International Auditing Firms-Big 4 or the price-cutting strategy of auditing enterprises. In New Year, what will Vietnamese Auditing Profession do to overcome these challenges? Mr. Do Manh Cuong-Member of Board of Member, Deputy General Director of AASC Auditing Firm had a conversation with Stock Investment. " ...the gap between Big 4 Group and domestic auditing firms is narrowing in terms of service quality and personnel development. Domestic enterprises are outstanding in basic construction auditing services ... In 2014, the market witnessed numerous expansion activities from Big 4 Group in Vietnam. How do you feel about the competition from this segment? The influence of Big 4 Group in Vietnam is one of the inevitable development trends of market during integration period. However, the gap between Big 4 Group and domestic auditing firms is narrowing in terms of service quality and personnel development. Domestic enterprises are outstanding in basic construction auditing services, and considered equally in the list, which voted by international financial institution in Vietnam. Regarding the currently domestic human resources, there are more and more people graduate and granted international certificate. Domestic firms also focus on training and self-development of employees in order to narrow the gap with Big 4 Group. At several meetings held by Ministry of Finance and Accounting and Auditing Associations, lower the audit fees have been a hot issue. During the year, whether have we handled this situation or not, sir? Frankly, this issue was discussed for many times, but still has no suitable solutions. Like a domino effect, when the big companies charge lower prices to reach the segment of smaller companies, either the smaller companies will discount to maintain the number of customers, or approach the segment of other smaller companies, so this process has been repeated in recent years. Due to impact of this problem, a number of Professional Associations like VACPA has to offer a temporary solution, in which strengthen inspection the quality of low price service contracts. Several areas have implemented restructuring by reducing quantity and increasing quality. In the auditing field, how is it going, sir? Establishing an audit firm in newly- formed market would require at least 03 Auditors with few year experiences according to the formal regulation set by competent authority, as the result there were more than 150 companies established during that time. Until the Independent Auditing Law came into force in Vietnam, the requirements for establishment have been raised about the number of auditors and charter capital, etc. On the other hand, there are several companies consolidated in the market in order to increase the competitiveness. As of June 10, 2014, there are more than 134 firms granted the certificate of eligibility for providing auditing services by Ministry of Finance. In my opinion, this process should continue to perform. According to forecast of the year 2015, the whole economy will be much better, along with changes in regulations, and the enterprise’s awareness about financial environment. What do you think about the opportunities for enterprises and Audit Sector in general? The market will pave the way for auditing firms growing up. For example, the demand for equitization, business valuation, auditing and FDI enterprise sector consultancy services, restructuring the economy in general as well as the banking sector, the state-owned corporations operating ineffective in particular. New Procurement Law, which took effect from July 1, 2014 lower requirement of organizing public tender on auditing and consulting contracts with a value of VND 3 billion down to VND 500 million. Due to this result, number of project and work, which should be audited, is expanding. Facing the opportunities and challenges from such competitions, what should Vietnamese Auditing Enterprises do in order to proactively involve? The audit firms should pay attention to the professional investment, specialization and computerization of services provided towards becoming a reliable partner. In order to have enough competitive resources, domestic audit firms should prioritize the development of human resources and networking, forming the "supply chain" in the field through joint venture, association, merging into a big company, or joining the international accounting networks to combine and share the advantages of each member towards creating a favorably environment. After becoming a member of HLB International, AASC has more opportunities to spillover the brand to foreign customers. In 2014, AASC has hired senior personnel for many service sectors as well as preferential recruitment of foreign personnel who in charge of foreign customer sector. AASC also is about completing trial run of Caseware and customer database management software in order to ensure the quality and efficiency of service provided. I believe that image of Vietnamese Auditing Firms would be promoted widely on the market by enhancing the quality of service thanks to the above investment factors bring back. Source: The stock Investment Following the success of the training course at the Vietnam Forestry Corporation, from February 28 to March 01, 2015, AASC Auditing Firm has collaborated with the Southern Food Corporation (SFC) to organize a training course on new enterprise accounting regime issued together with Circular No. 200/2014/TT-BTC dated 22/12/2014 of the Ministry of Finance for more than 140 officers and staff of SFC. In the training course, lecturer Trinh Duc Vinh, manager of Enterprise Accounting Regime Unit under Accounting and Auditing Regulation Department, Ministry of Finance shared with finance officers of SFC about changes having critical effect on the business operation of the Corporation and its unit members. Vinh also advised on actions that need to be done in order to apply new provision efficiently. Newly updated knowledge on accounting regime will also help officers and staff of SFC to understand and implement their assigned tasks in 2015 successfully. After the training course, Deputy General Director of AASC Bui Van Thao expressed his happiness on the success of the course as well as the trust of the SFC Board of Management for AASC professional services. Thao also pledged that AASC will do its utmost to provide services of highest quality and always be the trusted consultant for the long-term and stable development of all clients. Photos of the training course Deputy General Director of SFC Huynh Thong delivered speech at the training course Attendees of the training course BBT In the highly enthusiastic and happy atmosphere of the Year of the Goat, on the morning of 24/02/2015 (The January 6th of the Lunar New Year), the Party Committee, Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff of AASC Auditing Firm have jubilantly organized a meeting, toasting to a happy new year. On behalf of the Member Board, the Board of General Director, Mr. Ngo Duc Doan, Chairman of the Member Board, General Director of AASC wished all officers, Party members, auditors, audit assistants, technicians and the whole company staff a new year filled with health, prosperity and great achievements in the implementation of target missions of the 8th fiscal year. In addition, Mr. Doan also believed that in the New Year, all departments and units of AASC will do their utmost to overcome all difficulties and challenges to satisfy clients’ demand, achieve new accomplishments, positively contribute to the growth of AASC and bring AASC’s image and position to a new height regionally and globally. Following the 2015 working schedule, immediately after the New Year celebration, a number of AASC officers and staff have taken the first business trip of the New Year and been ready to outstandingly complete all assigned tasks with a proud feeling of AASC’s great achievements last year. There is a belief ingrained in their mind that in the New Year, AASC will maintain its leading position among Vietnamese Auditing Firm, deeply integrate with global standards and continuously develop in a sustainable way. Photos of the meeting Chairman of the Member Board, General Director Ngo Duc Doan delivered speech at the meeting BBT On 13/02/2015, in a cheerful and enthusiastic atmosphere towards AASC Labor Conference 2014, AASC Auditing Firm has successfully organized friendly table tennis league with Department of Accounting and Auditing Regulation, Department of Emulation and Commendation - Ministry of Finance. Attendees at the league include Prof. Dr. Dang Thai Hung - Director of Department of Accounting and Auditing Regulation, Mr. Nguyen Hung Minh - Director of Department of Emulation and Commendation, Mr. Ngo Duc Doan - Chairman of the Member Board, General Director of AASC as well as players and fans of both teams. In the spirit of learning and wellness, all matches were open with numerous attractive situations. Owning well-trained players, the team from Department of Auditing And Accounting Regulation and Department of Emulation and commendation has beautiful start with 02 consecutive winning matches. However, the players of AASC have quickly regained spirit and adjusted tactics. Therefore, the next matches were more attractive with equal winning for both teams. The tournament ends successfully in the applause and satisfaction of all audience. AASC Board of Management always takes care of and facilitates the development of cultural activities and sports inside and outside the company where AASC members can exercise physical health and broaden relationships after stressful working hours. This is also an opportunity for AASC to tighten relationships with clients, departments and agencies as well as improve AASC image – The leading Auditing Firm among Vietnamese ones. Photo of the league BBT Recently, in Thai Nguyen province, Thai Nguyen Iron and Steel joint stock Corporation (TISCO) has jubilantly organized 2014 Customer Conference to review the operating results in the aspect of customer and partner relationship. At the conference, AASC Auditing Firm was honorably received the title “Trusted partner for 2014” selected by TISCO. Speaking at the conference, TISCO General Director Tran Van Kham confirmed that Customer Conference has been a major annual event of TISCO. This is not only an opportunity for TISCO to meet clients and listen to useful ideas for stable development but also an opportunity for TISCO to express sincere thanks to all clients and partners. The title “Trusted partner” prove for the recognition and appreciation of the TISCO Board of Management for the quality of AASC professional services and efforts of AASC staff through years. Also at the conference, on behalf of AASC Board of Management, auditors and staff, Deputy General Director Nguyen Thanh Tung extended thanks to TISCO Board of Management for their trust in AASC services and hoped to lift up ties between two parties in the coming time. Tung also pledged that AASC would continue enhancing service quality and always be the trusted partner supporting TISCO to strongly develop, achieve great successes and significantly contribute to the prosperity of the community and the country. BBT From February 11 to February 12, 2015, AASC Auditing Firm organized a training course on new accounting regime applied from January 1, 2015 and issued together with Circular No. 200/2014/TT-BTC dated December 22, 2014 of the Ministry of Finance for finance staff of Vietnam Forestry Corporation (VFC). Understanding and implementing regulations of new accounting regime is a concerning issue for enterprises. At the training course, experts of AASC Auditing Firm and the Department of Auditing and Accounting Regulation, Ministry of Finance shared with finance officers of VFC on new changes having critical effects on the business operation of VFC and unit members as well as implementing plan to apply new regulations appropriately and effectively. Differences between accounting regime and tax regulations have been thoroughly compared analyzed to establish solutions for problems in the implementation process. Speaking at the training course, AASC Deputy General Director Pham Thi Thanh Giang expressed the happiness in the success of the training course. Deputy General Director emphasized that AASC Auditing Firm always do its utmost to provide professional services with highest standards to clients and support clients to grow strongly in a sustainable way. On behalf of AASC Board of Management and experts, Deputy General Director pledged that AASC would continue providing highest quality services to VFC in particular and other enterprises in general and being a trusted consultant for all clients in the field of accounting, auditing and financial consultancy. Photos of the training course General Director of Vietnam Forestry Corporation Cao Van Thuy delivered speech at the training course Vice Manager of Department of Accounting and Auditing Ha Thi Ngoc Ha shared about new regulations of Circular No. 200/2014/TT-BTC AASC Deputy General Director Pham Thi Thanh Giang delivered speech at the training course BBT Vietnamese manufacturing continued to strengthen in January, supported by a further growth in new orders and jobs, according to HSBC. Vietnam economy is currently in recover period. Purchasing Managers' Index (PMI) is reported as decline from 52.7 in December to 51.5, however the conditions in the manufacturing economy in Vietnam reflect the improvement. Both output and new orders continued to rise at the start of 2015. Jobs are seen the most improvement since December 2013. Meanwhile, input costs decreased at the fastest pace in the survey's history as the result of falling fuel prices. This in turn led manufacturing firms to reduce their output prices sharply. Besides, improving client demand had been increased leading to the rise in jobs, in turn leading firms to raise production. New export orders, meanwhile, rose only slightly amid some reports of weakening demand in export markets. Falls in the global price of oil led a number of respondents to report reduced fuel costs. Consequently, input prices decreased at the sharpest pace in the survey's history, surpassing the previous record. In response to sharp reductions in input costs, manufacturers lowered their prices accordingly with the sharpest decline during 2.5 years. Expert of HSBC- Trinh Nguyen said, "The deceleration of global demand is taking a bite at output growth, although competitive pricing helps counter the slowdown of external demand. "Employment rose sharply, highlighting strong demand for Vietnamese goods, necessitating new headcount. "With input prices decelerating, thanks to the sharp decline in oil prices, and inventories low, we expect output to continue to expand in February, although the Lunar New Year festivity means there will be some seasonal slowdown." Sources: Vietnamnews The State Bank of Vietnam (SBV) recently issued Circular 36/2014/TT-NHNN on capital adequacy and liquidity requirements for commercial banks. Circular 36 is said to have an impact on the stock market in the past few sessions. Some new regulations are more stringent, but necessary, particularly those related to bank cross-ownership. Will stock investors have the opportunity or not when Circular 36 taking effect on February 01, 2015 is enacted? Approaching professionalism Mr Pham Huyen Anh, Director of Banking Operation Policy Security Department under the SBV, said Circular 36 not only amended inappropriate provisions in Circular 13 but also completed, supplemented and approached more closely to international practices and banking governance, managed and supervised banks, gradually implemented the Basel II regulations on capital adequacy at banks. Particularly, Circular 36 helps improve risk management and ensure the good control of operational quality, solvency, liquidity, safe investment, capital contribution, share purchase and credit lending at credit institutions and foreign bank branches. According to experts, Circular 36 will restrict cash flows from banks into the stock market. Commercial banks will be only allowed to provide credit in the form of loans and discounts of valuable papers for customers to invest and trade stocks when such lenders meet capital adequacy conditions and have a bad debt ratio of 3 percent or lower. Loans for stock business cannot exceed 5 percent of outstanding credits of banks. Although the Circular takes effect on February 1, 2015, it is causing considerable effects on the stock market. The stock market has lost ground in the past few days. Mr Pham Phu Khoi, General Director of ACB Securities Company, said that stricter regulations on lending for securities investment will leave substantial impacts on the stock market in the short term. In addition, securities companies which entirely rely on bank loans to finance margin trading will have to face mortgage release if funding banks have lent more than 5 percent for securities investment. Opportunity for stock market After Circular 36 limits total credit for this field from 20 percent of registered capital to 15 percent, securities companies have started to recalculate the limit that banks can provide for equity investment. However, these calculations are only estimated because the limit varies from time to time. Input data like total loans, bad debt ratio (banks are disallowed to provide loans for equity investment if their bad debt ratio is 3 percent or higher) are elastic and changeable every day. Input variables will lead to output variables. Therefore, the total quota calculation is not necessary. According to experts, calculating the total quota will not be as important as the following: Firstly, banks (especially commercial banks) always give a priority for bankers to borrow their money to invest in bank stocks. If this is tightened, they will withdraw their loans from other borrowers to boost internal lending. “Parent banks” may also stop providing credit for their securities companies. Credit supplies will decline in these two channels. Secondly, many big bank shareholders borrow to invest in real estate. If their lending is limited, they will give priority to real estate to securities because shares are more liquid. If they have to repay some loans to banks, they may prefer cutting shares to real estate projects. Who will consume such release? Thirdly, according to Item 5, Article 14, bank credit grant to customers to invest in shares shall not be secured by such shares. This means that assets formed from loans shall not be used as the security for loans. Margin lending will be once only. Perhaps, bank shares will be first hit and this blow will cause a domino effect on other securities. So, why will Circular 36 pave the way for stocks? The developments on the stock market in the past months show that blue-chips and stocks with good fundamentals have not increased. A half of trading value on both stock exchanges is leveraged by margin loans. Meanwhile, margin loans are spent on speculative stocks, thus sending the market into a state of instability. If margin lending is slashed, the market will undergo corrections to be healthier. Then, real money will be used on the market and a solid foundation for the market will be established. The stock market will enjoy a strong growth when gasoline prices plummet. Lower input costs are helping revive manufacturing. Manufacturing companies, including listed ones, will benefit from this. Inflation in 2014 was forecast at 3 percent, the lowest in a decade. This may encourage lenders to slash interest rates by another 1 percent. Meanwhile, traditional investment channels such as gold and foreign currencies are no longer an appeal and real estate market has not fully recovered. Unemployed money will sooner or later be poured into the stock. Good-performing companies and those with high dividend payout ratios will be the destinations of cash flows. The second opportunity for stock investors after 2007 is coming. Dinh Thanh (Source: vccinews.vn) (ĐTCK) Dẫu môi trường cạnh tranh ngày càng gay gắt, nhưng AASC, một trong hai DN kiểm toán đầu tiên của Việt Nam vẫn có số lượng khách hàng lớn, doanh thu nổi trội và trở thành niềm tự hào của làng kiểm toán Việt.Ban Lãnh đạo Hãng Kiểm toán AASC Lượng khách hàng đông đảo và đa dạng Sức ép cạnh tranh trên thị trường dịch vụ kiểm toán ngày càng gay gắt, khi có sự góp mặt của đầy đủ các thương hiệu kiểm toán lớn trên thế giới. Các DN kiểm toán này thừa hưởng lượng khách hàng lớn từ các hãng quốc tế cũng như cổ đông nhiều DN niêm yết có tâm lý “tin dùng” dịch vụ kiểm toán ngoại, nên có lợi thế cạnh tranh so với các công ty kiểm toán trong nước. Một số công ty kiểm toán nội chọn con đường hợp nhất, sáp nhập để gia tăng sức cạnh tranh. Trong bối cảnh đó, AASC đã nỗ lực giữ vững truyền thống và không ngừng vươn lên, bồi đắp thương hiệu. Những năm qua, AASC luôn nằm trong Top 5 DN kiểm toán (liền kề Big 4) có doanh thu, hệ thống khách hàng và có số lượng kiểm toán viên và nhân viên lớn trên thị trường. Số liệu của Hội Kiểm toán viên hành nghề Việt Nam (VACPA) cho thấy, AASC hiện đứng thứ 2 toàn thị trường về số lượng khách hàng và đứng thứ nhất trong hệ thống các công ty kiểm toán Việt Nam về doanh thu. Lãnh đạo AASC cho biết, năm 2013, đã có tới trên 1.160 khách hàng sử dụng dịch vụ của Hãng, thuộc nhiều loại hình DN và hoạt động trong mọi lĩnh vực của nền kinh tế, từ các tập đoàn, tổng công ty nhà nước, công ty có vốn đầu tư nước ngoài, đến các công ty niêm yết, các dự án đầu tư xây dựng cơ bản, các dự án do các tổ chức tài chính quốc tế tài trợ… Xây dựng bản sắc riêng Để có được hệ thống khách hàng đa dạng về thành phần, lĩnh vực hoạt động, “trong suốt hơn 23 năm qua, AASC luôn đi đúng tôn chỉ, mục đích là công ty kiểm toán thuần Việt cung cấp những dịch vụ có chất lượng cao, vì lợi ích hợp pháp của khách hàng”, lãnh đạo Công ty chia sẻ. Việc AASC trở thành thành viên của HLB Quốc tế - mạng lưới các hãng kiểm toán và tư vấn quản trị DN với khoảng 1.900 chủ phần hùn và trên 14.000 nhân viên tại hơn 100 quốc gia - từ năm 2011 cũng nhằm đem đến cho các khách hàng những dịch vụ tốt nhất và đạt tiêu chuẩn quốc tế. Dẫu vậy, lãnh đạo AASC vẫn còn không ít trăn trở. Dù có số lượng khách hàng đứng thứ hai thị trường, song AASC vẫn cần tiếp tục phấn đấu, tăng trưởng doanh thu, từng bước rút ngắn khoảng cách với các DN trong nhóm Big 4. Để cùng hoạt động với các công ty kiểm toán Big 4 tại Việt Nam, AASC không chủ trương cạnh tranh đối đầu, mà hướng tới những lĩnh vực, những phân khúc thị trường ít cạnh tranh hơn mà Công ty có ưu thế riêng. Với ưu thế là một trong hai DN chuyên ngành đầu tiên của Việt Nam, AASC luôn nổi trội với thế mạnh cung cấp dịch vụ kiểm toán, tư vấn tài chính - kế toán và thuế. Đặc biệt, về dịch vụ kiểm toán báo cáo quyết toán vốn đầu tư, AASC là công ty kiểm toán đầu tiên thực hiện dịch vụ này và là một trong những đơn vị có số lượng khách hàng và chất lượng dịch vụ tốt nhất trên thị trường. Theo báo cáo tổng hợp của VACPA công bố năm 2012 và 2013, AASC đứng đầu về doanh thu dịch vụ kiểm toán quyết toán vốn đầu tư hoàn thành, đứng thứ 2 về doanh thu dịch vụ kiểm toán cho các tập đoàn, tổng công ty nhà nước. AASC cũng là một trong số ít công ty kiểm toán của Việt Nam được lựa chọn vào danh sách ngắn của WB và ADB cùng nhiều tổ chức tín dụng để kiểm toán dự án do các tổ chức này tài trợ. Dịch vụ xác định giá trị DN và tư vấn cổ phần hóa của AASC nhận được sự tín nhiệm của đông đảo khách hàng. Nhiều DN đã tin tưởng yêu cầu Công ty cung cấp thêm các dịch vụ tư vấn để đẩy nhanh tiến trình cổ phần hóa, tư vấn xác định giá trị DN... Không chỉ đi sâu vào những phân khúc có thế mạnh, cung cấp những dịch vụ mang bản sắc riêng, AASC còn tăng cường hợp tác với các DN trong ngành. “Hiện AASC đã và đang hợp tác với các công ty trong Big 4 cũng như một số công ty kiểm toán lớn trong nước. Thực tế cho thấy, việc hợp tác giữa các công ty kiểm toán đem lại nhiều lợi ích cho các bên, giúp tăng cường chất lượng và gia tăng giá trị dịch vụ”, lãnh đạo AASC chia sẻ. Nguồn: Báo Đầu tư Chứng khoán Trước yêu cầu minh bạch thông tin tài chính DN trong thời gian qua, nhiều công ty kiểm toán “nội” được thành lập. Số lượng nhiều nhưng kiểm toán “nội” hiện còn lép vế với DN kiểm toán “ngoại”. Làm sao để nâng cao sức cạnh tranh cho hoạt động kiểm toán nói chung và kiểm toán “nội” nói riêng? Để tìm câu trả lời, phóng viên Tạp chí Vietnam Business Forum đã có cuộc phỏng vấn ông Ngô Đức Đoàn - Tổng Giám đốc Công ty TNHH Hãng Kiểm toán AASC. Ngọc Anh thực hiện. Hình thành sau những năm 1990, ngành Kiểm toán Việt còn khá non trẻ nhưng đang ngày càng trưởng thành hơn, chất lượng dịch vụ có những bước tiến đáng kể và được khách hàng tin tưởng. tuy vậy, các DN Kiểm toán hiện còn gặp nhiều khó khăn trong hoạt động; năng lực cạnh tranh hạn chế, trình độ nhân lực yếu, dịch vụ chưa đa dạng; khách hàng hạn hẹp… Hơn nữa các công ty kiểm toán độc lập chưa hợp tác chặt chẽ với nhau và còn tình trạng cạnh tranh thiếu lành mạnh. nhiều doanh nghiệp kiểm toán kể cả nhóm Big 4 hoạt động tại Việt nam cũng sẵn sàng hạ giá phí thấp theo khách hàng thông báo. Một số công ty nội địa đưa mức phí thấp nên cũng phục vụ “thấp” về chất lượng như: không bố trí đúng nhân sự, cắt giảm thủ tục, quy trình soát xét kiểm toán. “Con sâu làm rầu nồi canh”,vài DN đã làm ảnh hưởng uy tín cả dịch vụ Kiểm toán. Ông vừa nhắc đến Big4 (các công ty kiểm toán nước ngoài), có ý kiến cho rằng hiện Big4 đã thâu tóm hầu hết thị trường Việt Nam; vậy yếu tố nào giúp họ bỏ xa chúng ta? Theo thống kê của Hội Kiểm toán viên hành nghề Việt nam (VACPA), năm 2013, Big4 chiếm 58% doanh thu toàn thị trường, tức 130 công ty kiểm toán nội địa chỉ giữ 42% còn lại. năm 2013, trong khi bình quân doanh thu mỗi công ty kiểm toán tại Việt nam là 31 tỷ đồng thì của Big4 lên tới 599 tỷ còn 130 công ty “nội” chỉ đạt 14 tỷ đồng. AASC hiện có số lượng khách hàng lớn thứ hai trong hệ thống các Công ty Kiểm toán Việt Nam và vị trí doanh thu xếp ngay sau nhóm Big4 nhưng xét về giá trị tuyệt đối thì vẫn còn khoảng cách khá xa so với họ. Big4 làm được điều đó vì họ sở hữu thương hiệu mạnh, thừa hưởng nguồn khách hàng của nhà đầu tư, tổ chức tài chính nước ngoài thậm chí do cả yếu tố hạ giá phí. AASC hiện đang làm gì để cạnh tranh cùng nhóm Big4 và thu hẹp khoảng cách với Kiểm toán nước ngoài? AASC không chọn đối đầu mà chọn hợp tác và đang thực hiện điều đó với nhóm Big4 cũng như một số công ty kiểm toán vừa và nhỏ. Bởi chúng tôi quan niệm, hợp tác sẽ đem lại lợi ích cho các bên, giúp tăng cường chất lượng dịch vụ; củng cố và nâng cao niềm tin của công chúng và gia tăng doanh số kiểm toán… song nếu buộc phải cạnh tranh, chúng tôi sẽ tìm kiếm những lĩnh vực, phân khúc thị trường ít “va chạm” hơn. Để thu hẹp khoảng cách giữa kiểm toán “nội” và kiểm toán “ngoại” cần phải tạo nên một nền kiểm toán “Uy tín - trung thực - Minh bạch”, phát triển bền vững bằng việc hội nhập với khu vực và thế giới. năm 2013, chúng tôi đã công bố thương hiệu và đổi tên thành Hãng Kiểm toán AASC. Tôi hy vọng sự ra đời thương hiệu mới sẽ góp phần nâng cao tín nhiệm và niềm tin của AASC nói riêng và Kiểm toán Việt nói chung. Theo ông, cần yếu tố nào để phát triển một ngành kiểm toán phát triển bền vững? Để phát triển một ngành kiểm toán vững mạnh, minh bạch, đáp ứng yêu cầu thực tế thì các DN nên tập trung phát triển nhân lực; trước hết phải rà soát, đánh giá, bồi dưỡng, tu dưỡng rèn luyện đội ngũ Kiểm toán viên, nhân viên giỏi về chuyên môn, sáng ngời về đạo đức nghề nghiệp, tôi luyện bản lĩnh trong khi thực hiện các nhiệm vụ dịch vụ kiểm toán và tư vấn. Các công ty cũng cần hoàn thiện mô hình quản lý, quản trị DN bài bản, chuyên nghiệp, công khai, minh bạch để cán bộ, nhân viên luôn đồng thuận nhất tâm. Nguồn: Tạp chí Vietnam Business Forum Vietnam’s GDP growth promises to continue its upward trend while macro economy will also be strengthened in 2015, making the country’s economy even brighter than in 2014, according to experts. Optimistic forecast The UN World Economic Situation and Prospects 2015 released on December 10, 2014 a forecast that the global economy would continue to grow in the next two years despite remnants of the global financial crisis, geopolitical challenges and negative effects of the Ebola epidemic in West Africa that has curbed growth. The global economy is forecast to grow 3.1% in 2015 and 3.3% in 2016. However, the world will still face many challenges and confusion about restructuring and searching for a new growth engine, plus high and prolonged unemployment, increasing pressure from public debt, military and political tensions, and territorial disputes. Forecasts by several international organisations said that, in 2015, Vietnam would achieve GDP growth of 5.8 to 6.2%; a CPI below 7% and export sector would gain more important breakthroughs by getting more active momentum from FTAs that Vietnam is and will be involved in, mostly the ASEAN Economic Community, TPP, and FTAs between Vietnam and the Republic of Korea, and with Customs Union of Russia, Belarus and Kazakhstan… A resolution on the socio-economic development plan in 2015 passed by the National Assembly, with 89.54% of votes, has set a number of goals for 2015, targeting 6.2% GDP growth rate; total exports increasing by about 10%; deficit of about 5%; CPI about 5%; total social investment accounting for 30 to 32% of GDP; poverty rate falling by 1.7 to 2%; creating jobs for 1.6 million workers; urban unemployment rate at less than 4%; trained employees reached 50% and percentage of malnourished children under five dropping to below 15%. According to the National Financial Supervisory Commission (NFSC), economic growth in 2015 will continue its recovery trend and the growth target of 6.2% is feasible. Meanwhile, the macroeconomic environment will have more favourable conditions to maintain its stability, especially for inflation control target. With a forecast reduction of 33% in the world’s oil price in 2015 and assuming that domestic petroleum prices also decrease respectively, NFSC estimates that domestic production costs will decrease by 3%. Besides gains thanks to an improvement in consumption and private investment, according to the NFSC, there are still difficulties including the slow global economic recovery; lower oil prices affecting budget balance and investment for development; decreased global commodity prices; and a rapid decline of export growth, especially in the foreign invested sector. Tourism, agriculture, and aqua-culture will continue to grow smoothly. Labour exports, including doctors and nurses, will be a focus in creating new breakthroughs for employment growth. Auxiliary industries will be gradually shaped and developed towards participating in the international supply chain with Vietnam’s partners in FTAs. However, difficulties remain among high-end real estate, mechanical industry, small and medium-sized businesses with outdated technologies, and stagnant State-owned enterprises with slow innovation in organisation, equipment, technologies and management capabilities. The banking system is still facing pressure on bad debt, cross-ownership, governance improvement and standardisation of operation norms under international standards and integration commitments. M&A activities are expected to increase, especially in the field of real estate, consumer goods, banking, textiles, and mechanical engineering. Priorities given to macroeconomic stabilisation In the medium term, according to many experts, Vietnam's economy in 2015 will turn bright, in which the foreign investment sector continues to play an important role as a driving force of economic growth. Reforms in SOEs will be accelerated to achieve the set targets. Accelerating reform of the banking sector continues to be a priority. Interest rates are unlikely to continue to decrease but credit growth will be facilitated due to more opened investment opportunities and credit conditions, thus creating a thrust to support economic growth. Bad debt is under control and is handled flexibly step by step under the goal of ensuring system’s stability and gradually approaching common standards and practices. Sectors expected to see strong growth in 2015 and onwards include real estate; construction materials and services; consumption services; consumer products; and agro-forestry products. Investing in open-ended funds is an option that has drawn more and more attention from private investors. In particular, a new cycle of the real estate market is forming, increasingly growing in size and speed, and turning more stable and more efficient in the last years of this decade, with the most promising segment lying in social housing with reasonable areas and affordable prices. To achieve the 2015 socio-economic development goals, Vietnam should implement effective strategic breakthroughs, focusing on economic restructuring associated with the conversion of the growth model; improving quality, efficiency and competitiveness of products, businesses and the economy; and raising the effectiveness of State management. It is also necessary to improve the efficiency of public investment, while securing public debt, government debt and foreign debt within the national security limits. There is also special need to ensure disbursement from the State budget, government bonds, and ODA for infrastructure development, especially for key facilities that are likely to be completed in 2015 and for urgent projects on residential stability and facilitating livelihoods for people. Vietnam should effectively implement international treaties to which it is a party; actively negotiating and signing bilateral and multilateral FTAs; participating in building the ASEAN Community in 2015; and promoting appropriate communication, guidance and support to businesses and individuals to be more active in the integration process. Positive growth for Vietnam's economy will be realised once economic development goes together with the promotion of comprehensive reform, acceleration of economic restructuring associated with growth model innovation, and improvement of State management capacity, in addition to promoting democracy and strengthening anti-corruption work. Confidence reflects efficiency and contributes to the success of national policies. Maintaining and strengthening confidence has increasingly become an orientation and regular, consistent task; as it is both an objective and a motivation for the reform and development processes of the country and business community. Dr. Nguyen Minh Phong Source: Nhandanonline In 2014, overcoming loads of difficulties and challenges, Financial Sector has drastically and synchronously implemented solutions to financial and state budget missions which were set out by the National Assemble and the Government and achieved positive results which has shown important milestones in all fields. On the basis of achieved results, the functional units and the press agencies of Financial Sector have voted for 10 financial highlights in 2014, the PORTAL of Ministry of Finance will warmly introduce these highlights as follows: 1. Exceeding the estimated State budget revenue in2014 estimates, contributing to economic growth, ensuring security and defense, social security of the country. 2. Having breakthroughs in administrative procedures reform in the fields of Taxation, Customs and State Treasury. 3. Succeeding in developing financial legal system. 4. Successfully issuing 1-billion-USD Government bonds to international capital market. 5. Achieving positive results in price management, market stabilization, inflation control. 6. 389 Nations Steering Committee was established in order to take part in preventing and fighting against smuggling, trade frauds and counterfeit goods effectively. 7. The Ministry of Finance topped the ICT Index 2014 chart. 8. "Restructuring the stock market" contributed in restructuring the economy. 9. Insurance operations stabilized investment environment, encouraging the fishermen clinging to the sea and protect Vietnam’s sea islands. 10. Inaugurating upgraded Construction WorkNational Martyr cemetery Road 9. Source: MOF webiste Viettel Global Investment JSC (Viettel Global), a subsidiary of Viettel Group, has approved a resolution to invest in a telecommunications company in Myanmar with the total registered investment capital of $1.8 billion, according to the company’s website. In December 2014, Viettel unveiled the $1.8 billion plan to invest in Myanmar, in which Viettel Global would invest approximately $800 million and its foreign partners about $1 billion. Myanmar is considered an attractive market for telecommunications. According to Viettel, as of the second quarter of 2014, the total number of mobile phone subscribers in Myanmar reached 6.5 million, accounting for 10.7 per cent of the total population and 13.1 per cent of the population in the age of mobile usage (from 12 to 70 years old) - the lowest in Southeast Asia. Meanwhile, in Vietnam, the figure is 94 per cent of the population in the age of mobile usage with 66.7 million subscribers. Prior to 2014, the telecommunications market, including mobile and landline networks, in Myanmar was monopolised by state company Myanmar Posts and Telecommunications. In 2013, Myanmar held a bid to call foreign investors into its potential telecommunications market. Viettel is the only Vietnamese firm participating in this bidding but did not win against two international network operators Ooredoo (Qatar) and Telenor (Norway). The representative of Viettel then said Viettel would not give up because it could continue to cooperate with Telenor and Ooredoo in joint investment projects in the telecommunications industry in Myanmar. Furthermore, investing in Myanmar is a part of plan in Viettel’s global telecommunications expansion network. Viettel Global began its overseas investment in 2006. As of March 2014, Viettel Global has been operating investment projects in nine countries. Viettel has already run business operation in five countries including Cambodia, Laos, Mozambique, Haiti and East Timor and has been preparing for official launch in Peru and Cameroon. Most recently, Viettel Global has just been granted an investment certificate in Burundi and is in negotiation to get a licence in Tanzania. Tao Duc Thang, Viettel Global General Director said, “Viettel Global is going to have 300 million users in overseas markets in 2015 and become one of the top ten telecommunications companies in the world. Source: Vietnam Investment Review Walking on air of the New Year 2015, we would like to introduce 10 outstanding events of AASC Auditing Firm in 2014: 1. Foster cooperation and expand market share in the region and the world In 2014, AASC was honorably selected as consultant for many priority projects such as: Project “Cayson Phomvihan Cultural House”, a meaningful present of the Vietnamese Communist Party, State and people to Laos; Project: “Mekong River Sub-region highway expansion” funded by Thailand Ministry of Transport. This is clear evidence showing that AASC image has been increasingly expanded in the region and the world.
2. HLB international reviewed and appreciated the quality of AASC audit documentation In two days from 16th to 17th January, 2014, at AASC head office, Mr. Darryl Swindells, a member of Quality Control Committee of HLB International has reviewed and assessed audit and financial consultant documentation of AASC Auditing Firm - Member of HLB International in Vietnam. After the review according to strict regulations of HLB quality control policy, Darry Swindells has given a good grade on quality of AASC documentation, consulted and supported AASC to enhance the quality in accordance with HLB and international standards. 3. Promote appraisal and asset valuation In order to diversify the service range, in 2014, AASC Auditing Firm has stayed focus on promoting appraisal and asset valuation services to transfer state-owned companies into joint stock companies such as: Airports Corporation of Vietnam; Vietnam Cement Corporation, Corporation No. 36 – Ministry of Defense, Railway Project Management Unit – Ministry of Transport. AASC has cooperated with Price Management Department – Ministry of Finance and Vietnam Valuation Association to ensure the best quality of professional services provided to clients. 4. Preliminary results from cooperation with other auditing companies Along with Big 4 auditing companies, in 2014, AASC has expanded the cooperation with Vietnamese auditing companies and achieved good preliminary results. Through cooperation, the service fee, quality and timing has been significantly improved. 5. Invest in facilities in Ho Chi Minh City and Southern provinces Following AASC Development Strategy in accordance with Vietnam Auditing and Accounting Development Strategy approved by the Prime Minister and Minister of Finance, in 2014, AASC has signed a contract to purchase the rights to use more than 600 m2 office space at District 4, Ho Chi Minh City. This office, which is positioned closely to District 1, will come to operation in early 2016 on the occasion of 25 years establishment of AASC and Vietnamese Independent Audit profession. 6. Lift up cooperation with international professional bodies Along with ACCA, in 2014, AASC has been recognized by ICAEW and CPA Australia as “recognized employee partner”. Besides close operation with prestige professional body as ACCA, ICAEW, CPA Australia, AASC pledges to continuously improve the quality of human resource and professional services provided to clients in accordance with international standards. At the ceremony to announce recognized partner certificate of CPA Australia, AASC Deputy General Manager Do Manh Cuong has also honorably become a new member of CPA Australia. At present, Cuong is a member of both ACCA and CPA Australia. 7. Revenue in the 7th fiscal year reached more than VND 136 billion In 2014, AASC has achieved revenue of more than VND 136 billion, of which revenue generated from construction audit is VND 32 billion. That affirms the top position of AASC among Vietnamese auditing firms and helps AASC gradually be on a par with Big 4 auditing firms operating in Vietnam. Accordingly, AASC contributions to State Budget and charity have remarkably increased and living standards of AASC’s staff and their families have been improved. 8. AASC Branch in Ho Chi Minh City achieved highest revenue among departments and units of AASC In the emulation atmosphere of all AASC’s Departments, Units and Branches before the 8th meeting of AASC’s Board of Member, AASC Branch in Ho Chi Minh City has become a bright example in increasing revenue in the whole company. AASC’s image has been expanded and trusted by numerous clients in Ho Chi Minh City and southern provinces. Chairman of the Member Board, General Director of AASC Ngo Duc Doan recognized the hard working and determination of all leaders and staff of AASC Branch in Ho Chi Minh City and believed that this Branch will continue accomplishing great achievements and contribute significantly to the stable development of AASC. 9. Establish new auditing departments (FIS1, FIS2) and appoint new key leaders In order to strengthen the management model, AASC has established Foreign Investment Service Department No. 1 (FIS 1) and Foreign Investment Service Department No. 2 (FIS 2) from the former Foreign Investment Service and appointed new key leaders to these departments. AASC Board of Directors believed that the establishment of these two units will help AASC Auditing Firm improve the quality of professional services in accordance with international standards and expand AASC image in the region and the world. 10. The 8th Meeting of AASC Board of Member successfully organized, setting a new direction for the company’s operation The 8th meeting of AASC Board of Member successfully took place in November 18th, 2014, summarized achievement of the company in the 7th financial year and 7 years of transformation from a SOE. The meeting also set a new direction for the company’s operation. At the meeting, AASC Member Board has reached consensus on the company’s development strategy for the period from 2015 to 2017 in accordance with Vietnam Auditing and Accounting Development Strategy towards 2020, with a vision to 2030 approved by the Prime Minister in 2013. BBT On the occasion of the 70th anniversary of Vietnam People’s Army (22/12/1944-22/12/2014) and 25th anniversary of National Defense Day, with encouragement of AASC Board of Directors and Party Committee, on 22/12/2014, AASC Auditing Firm held a cordial meeting to express thanks to veterans and soldiers currently working at the Company. Speaking at the ceremony, on behalf of AASC Board of General Directors, Mr. Nguyen Thanh Tung, Deputy General Director of AASC recalled the noble traditions of Vietnam People’s Army and expressed sincere thanks to veterans and soldiers for their contribution to AASC. In the peaceful time of the country, the spirit, determination and of a soldier is still running through their veins, assisting them to overcome all difficulties and achieve successes. Recognizing and praising all their achievements, Tung hoped that all veterans and soldiers working at AASC will always be healthy, complete all assigned tasks and contribute more significantly to the development and prosperity of AASC and Vietnamese Independent Audit profession. Also at the meeting, on behalf of veterans, Head of AASC Veteran, Chairman of the Member Board, General Director of AASC Ngo Duc Doan was delighted to announce that AASC Veteran has been honorably to receive a Merit of Certificate of Minister of Finance according to Decision No. 3273/QD-BTC dated 18/12/2014 for great achievement in the emulation period from 2009 to 2014. General Director also believed that in the field of auditing and consulting, AASC veterans will always be active, creative and full of determination to help AASC strongly develop and be on a par with Big 4 Auditing Firms operating in Vietnam. Photos of the meeting Deputy General Director Nguyen Thanh Tung recalled the noble traditions of Vietnam People’s Army Deputy General Director Nguyen Thanh Tung presented colorful flower to AASC veterans Head of AASC Veteran, Chairman of the Member Board, General Director Ngo Duc Doan delivered speech at the meeting BBT Foreigners now feel secure to buy houses in Vietnam, Savills Vietnam Co., Ltd said on November 26, the day after the National Assembly adopted the amended Law on Housing, which allows foreigners and Vietnamese people residing abroad to hire and own real estate in Vietnam. Under the Law, foreigners will be entitled to own up to 30 percent of the apartments in a building, or 250 villas/ townhouses in a project. Moreover, the housing ownership certificate will be valid for 50 years. Statistics of Savills Vietnam show that overseas remittances to Vietnam in 2013 hit 11 billion USD, up 10 percent against the previous year. This is an abundant source to be poured into the real estate market once the law officially comes into force on July 1, 2015, said the firm. The amendment of the law will make Vietnam’s real estate market more competitive and allow investors to gain better access to this attractive and potential market. The adoption of the law at a time when foreign investors are paying more attention to the local property market will help promote business activities and create a more competitive and healthier financial climate, said Savills Vietnam. According to the US-based property service provider CBRE Group, it is essential to simplify and concretize administrative procedures so as to create conditions for foreigners to rent and buy houses in Vietnam. The law will help increase the liquidity in the segment of high-end apartment in the coming time, said CBRE CEO in Hanoi Richard Leech, noting that it needs time to bring the law into life. (Source: Vietnamplus.vn) AASC Auditing Firm has recently organized the 8th Board of Member’s Meeting at Ho Tram, Ba Ria - Vung Tau province in a jubilant atmosphere to celebrate its achievements in the 7th fiscal year and during 7 years of transformation from a State owned Enterprise to a Company Limited with more than two members. At the meeting, all members have passed AASC Comprehensive Annual Financial report for the 7th fiscal year, set up mission and implementation plan for the 8th fiscal year, summarized training and quality control activities and amended the company charterer, etc. The Member Board has discussed thoroughly about managing human resources, improving quality and expanding market share in provision of audit, financial and tax consultancy services. Additionally, the Member Board has reached a consensus about the development plan of AASC for the period 2015-2017 in accordance with Vietnamese Auditing and Accounting strategy towards 2020 with a vision to 2030 approved by the Prime Minister. Speaking at the meeting, Chairman, General Director of AASC Ngo Duc Doan has called for wholehearted contribution of all members for AASC’s development of AASC in the following years. The Chairman also believed that with the right strategy and the consensus of all members, Board of General Directors, auditors, managers and staff, AASC Auditing Firm will develop strongly and stably, being a bright example in the Vietnamese Auditing companies and lifting AASC image to a new height in the region and the world. Photos of the 8th Board of Member’s Meeting Chairman of the Member Board, General Director Ngo Duc Doan delivered speech at the meeting The Member Board of AASC Auditing Firm BBT AASC has recently established new departments, appointed new key leaders and organized a ceremony to summarize operating results of Foreign Investment Service Department in the 7th financial year at its head office, No. 1 Le Phung Hieu Street. Attendees at the ceremony include AASC Party Secretariat, Chairman of the Member Board, General Director Ngo Duc Doan, Deputy General Director Do Manh Cuong, leaders of General Affair Department, Business Support Unit and FIS. For nearly a quarter century, including 7 years of transformation from a State-owned enterprise into a limited liability company with more than two members, AASC has continuously developed with great achievements and maintained its leading position among Vietnamese Auditing Firms. In order to strengthen the management model, AASC has established Foreign Investment Service Department No. 1 (FIS 1) and Foreign Investment Service Department No. 2 (FIS 2) from the former Foreign Investment Service Department (FIS), appointed Mrs. Ngo Thi Huong as Manager of FIS 2, Mr. Nguyen Pham Hung as Deputy Manager of FIS 2, Mrs. Do Thi Hong Thuy as Deputy Manager of FIS 1 and tasked key leaders of these two units. AASC Board of Directors believed that the establishment of these two units will help AASC Auditing Firm improve the quality of professional services in accordance with international standards. Speaking at the ceremony, AASC Party Secretary, Chairman of the Member Board, General Director Ngo Duc Doan has congratulated, recognized and praised the great success of FIS (former department of FIS 1 and FIS 2) as well as newly appointed leaders in the 7th fiscal year. General Director also believed that FIS 1 and FIS 2 will develop strongly, reach more achievements and expand AASC image in the region and the world. Photos of the ceremony General Director Ngo Duc Doan granted the Decision on Personnel Appointment to Manager of FIS 2 Ngo Thi Huong General Director Ngo Duc Doan and key leaders of FIS 1 and FIS 2 The newly appointed leaders pledged to continue to strive for greater achievements and contribute significantly to the prosperity of AASC Auditing Firm BBT November 1, 2014_ AASC Branch in in Ho Chi Minh City jubilantly held a ceremony to summarize its operating results in the 7th fiscal year and plan activities in the 8th fiscal year. At the ceremony, on behalf of AASC Branch’s Board of Management, Mr. Bui Van Thao, AASC Deputy General Director and Director of AASC Branch, has announced operating results in the 7th fiscal year of AASC Branch. Accordingly, at September 30, 2014, AASC Branch has reached VND 20 billion in revenue, increasing by 12% compared to that of the 6th fiscal year and successfully implemented its mission stated in the 7th Resolution of AASC’s Board of Members. In the emulation atmosphere of all AASC’s Departments, Units and Branches before the 8th meeting of AASC’s Board of Member, AASC Branch in Ho Chi Minh City has become a bright example in increasing revenue in the whole company. AASC’s image has been expanded and trusted by numerous clients in Ho Chi Minh City and southern provinces. Chairman of the Member Board, General Director of AASC Ngo Duc Doan recognized the hard working and determination of all leaders and staff of AASC Branch in Ho Chi Minh City and believed that AASC Branch will continue accomplishing great achievements and contribute significantly to the stable development of AASC. Photos of the ceremony General Director Ngo Duc Doan recognized and praised the efforts and determination of all leaders and staff of AASC Branch General Director Ngo Duc Doan took picture with leaders of AASC Branch in Ho Chi Minh City BBT ICAEW, a world leader of the accountancy and finance profession, has signed a Memorandum of Understanding (MoU) with the Vietnam Association of Accountants and Auditors (VAA) to strengthen its commitment to advance the accountancy profession. ICAEW also welcomed 12 Authorised Training Employers (ATEs) which will provide training for aspiring accountants. The MoU was signed by ICAEW Regional Director for Southeast Asia, Mr Mark Billington, with VAA President and Former Vice Chairman of Economics and Budgetary Committee of the National Assembly, Associate Professor Dr Dang Van Thanh. Through the MoU, ICAEW and VAA will be working closely together to strengthen the accountancy profession in Vietnam. The two bodies will collaborate on matters of mutual interest, such as corporate governance, professional ethics, technical research, continuing professional development and training. Dr Dang Van Thanh, President of VAA, said: “This MoU presents an excellent opportunity for VAA to leverage ICAEW’s expertise and experience in conducting continuing professional development programmes and applying them in Vietnam, so as to ensure that the skills of our accountants are globally relevant and meet high international standards.” ICAEW will also be renewing an earlier MoU signed with the Vietnam Association of Certified Public Accountants (VACPA) in 2011, for a three-year term from 2014 to 2017. Building on the good working relationship forged between ICAEW and VACPA, both parties seek to renew its commitment to jointly develop the accountancy profession in Vietnam. VACPA President and Former Vice Minister of Finance, Associate Professor Dr Tran Van Ta said: “We value the good working relationship developed with ICAEW and the opportunity to draw from its views as a leading professional accountancy body. With the upcoming renewal of our MoU, we will continue to jointly develop international-standard accounting practices and regulations in Vietnam to further advance the profession.” As part of its continued efforts to promote and cultivate accountancy talent, ICAEW is also working closely with leading industry partners in Vietnam as Authorised Training Employers (ATEs) to provide the professional training needed for students to qualify as ICAEW Chartered Accountants. To date, ICAEW has welcomed a total of 12 ATEs in Vietnam. They are key industry players including AASC Auditing Firm, Crowe Horwath, EY, Grant Thornton, KPMG, Mazars Vietnam, NEXIA STT, PwC, Russell Bedford KTC, Standard Chartered Bank, Techcombank and UHY Vietnam Audit and Advisory, who join more than 2,850 ICAEW ATEs around the world. Mr. Mark Billington, ICAEW Regional Director Southeast Asia said: “Accountancy is a hugely dynamic and relevant profession for Vietnam’s fast-growing economy. The MoUs with VACPA and VAA address important issues such as corporate governance, professional ethics, technical research, continuing professional development and training, which are important elements for a successful economy.” “As a world leading membership organisation with a public interest focus, ICAEW works with national accountancy bodies around the world to promote and develop best practice. We are pleased to be working with VACPA and VAA to help shape and influence the accountancy profession and promote excellence in technical and ethical standards.” Source: ICAEW Vietnam From 8 October to 9 October, CPA Australia has organized the ceremony of member certificate presentation and recognized partner certificate in Hanoi and Ho Chi Minh City. At the ceremony, CPA Australia has acknowledged AASC Auditing Firms as its recognized partner for the period from 10 September, 2014 to 10 September, 2017. Deputy General Director honorably received “Recognized partner certificate” in Hanoi Deputy General Director, Director of AASC Branch in Ho Chi Minh City honorably received REP certificate in Ho Chi Minh City CPA Australia is one of the largest professional accounting bodies in the world with a history that stretches back more than 126 years, comprising more than 144,000 members in over 127 countries. CPA Australia has established a representative office in Vietnam since 2008 and closely cooperated with prestige universities and professional associations such as Vietnam Association of Certified Public Accountants (VACPA), Vietnam Association of Accountants and Auditors (VAA). Currently, AASC Auditing Firm has 14 officers enrolling in CPA Australia training programs. At the ceremony, AASC Deputy Manager Do Manh Cuong has honorably received member certificate of CPA Australia. Mr. Cuong is also a member of Association of Chartered Certified Accountants (ACCA). BBT In the happy atmosphere to celebrate the success of the 7th fiscal year and great achievements during 7 years of AASC’s transformation from a SOE to a company limited with more than two members, with encouragement of the Chairman of the Member Board and the Board of Directors (BoD), on 17th October, 2014, AASC Auditing Firm jubilantly held the 84th anniversary of Vietnam Woman’s Union Establishment (20/10/1930 – 20/10/2014) at AASC head office. At the event, on behalf of AASC female members, Mrs. Nguyen Thi Hoang Lan, Head of the Woman’s Union, summarized the accomplishments and contributions of female members to the growth of AASC in 2013 and during 7 years of transformation. Despite the economic difficulty of the country and intense competition among auditing firms, AASC female members successfully implemented and completed all tasks assigned by the BoD, strongly developed AASC client system and provided highest quality of professional services to all clients. AASC female members, who are not only good at state affairs but also good at housework, always show positive attitude to job, work hard and have strong determination of solving difficult problems. All female members have significantly contributed to AASC success in maintaining the leading position among Vietnamese auditing firms. Also at the event, on behalf of the Member Board, the BoD, Deputy General Director Nguyen Thanh Tung recognized and praised remarkable contributions of female members to AASC’s development in the 7th fiscal year and during 7 years of transformation. Presenting colorful flower to female members, Deputy General Director wished them all the happiness, charming, health and hope they will continue making great contributions to the long-term and firm development of AASC. Photos of 84th anniversary of Vietnam Woman’s Union establishment Head of the Woman's Union Nguyen Hoang Lan summarized activities and contribution of AASC female members to the growth of AASC in 2014 and during 7 years of transformation Deputy General Manager Nguyen Thanh Tung and Deputy General Manager Nguyen Quoc Dung praised contributions and presented colorful flowers to AASC female members BBT On the morning of 30/09/2014, the inauguration ceremony of the project “Office Building of the Communist Party of Vietnam Committees (the CPV Committee)” was solemnly held at No. 1A, Hung Vuong Street, Hanoi. The ceremony was honored to receive Mr. Ngo Van Du, Politburo member, Secretary of the Party Central Committee (PCC) and Head of the PCC Commission for Inspection, Mr. Tran Quoc Vuong, Secretary of the PCC, Chief of the Secretariat and other distinguished guests attending and congratulating on the success of the project. Mr. Ngo Duc Doan, Chairman of the Member Board and General Director of AASC Auditing Firm also attended the ceremony to congratulate leaders of PCC Commission for Inspections, leaders of Party Central Office and Management Board of CPV construction projects - the project investment owner. The Office Building, which has been constructed from 02/12/2012 under the supervision of the Management Board of CPV construction projects, is a major project of CPV that AASC is trusted and appointed as consultant to provide service of auditing settlement report. This Building is expected to improve working conditions of the PCC Commission for Inspection and other Committees as well as facilitate the management of those committees in new circumstances of the country. Photos of the inauguration ceremony BBT The Government issued Decree No. 86/2014/ND-CP providing new regulations on conditions for car transportation. Taxi driver must print invoice Since 1/7/2015, for car from 10 seats or more, enterprises engaged in auto transportation business must inform Transportation Department where transport license is granted about itinerary, number of guests, pickup points, and duration of contract before implementing a transportation contract or a travel contract. Since 1/7/2016, enterprises are required to install invoice-printing devices stick to cash clock in taxi and taxi drivers must print invoice and handover customers. Regarding conditions for auto transportation business: Transport enterprises must register car transport certificate, guarantee technical safety and install tracking device on vehicles as regulated. Service staff must be trained in travel knowledge according to transport law and relevant statutory regulations. Additionally, transport enterprises must possess vehicles with tracking devices, install computer with internet connection, supervise and handle information displayed in tracking devices, supervise traffic safety, etc. Converted cars are not allowed to carry tourists Duration: Passenger cars with 10 seats or more are allowed to operate in 15 years for journeys over 300 km (since 1/1/2016, converted cars are not allowed to carry passengers), and 20 years for journeys of 300 km or less. For vehicles converted to passenger cars before 1/1/2002, the duration is 17 years. The duration for taxi is 8 years at special urban areas and 12 years at other localities. The duration for tourist vehicles is 15 years and converted cars are not allowed to carry tourists. Additionally, in cases transport enterprises do not perform transport services according to business certificate, over 50% of drivers breach transport law causing serious accidents in a year, repeat an offence against transport law and condition for car transportation causing serious accidents, the business certificate may be revoked. Source: Web Portal of the Government The trend to rent a house instead of buying increases dramatically in Hanoi and Hochiminh City, nowadays. High demand for house Demand for house experiences dramatically increase in large urban areas with high urbanization speed. The population of Vietnam currently is over 90 million people, of which, the urban population accounts for 32.5%, especially in Hanoi or HCMC. It is estimated that inhabitants in Hanoi and Hochiminh are approximately 7.1 million and 7.8 million, respectively. Of 14.9 million people, 6.3 million people are at working age and more than 6 million people are employed. According to the market research, it is estimated that about 10% of employed people hunger for houses, average size of households was 3.85 persons, therefore, at least 155,800 families are in need housing. Therefore, buying or renting a house is big decision for inhabitant. According to CBRE, the trend to rent a house seems to be reasonable to many people. Vietnamese used to stick with the traditional option of buying a house for the settlement. Besides, some of them suppose that the real estate might bring benefit in short-term of 1-2 year or might be longer 5-10 years. Additionally, inhabitants who own houses, especially in Hanoi or Hochiminh could have return from the leases. However, recent pressure from the increase in immigration leads to the boost of house renting in Vietnam. House renting used to be supposed “temporary” and is not a preferred choice of the majority of Vietnamese. According to the survey of housing resources in Hanoi and Hochiminh city: Buy or rent? According to the survey of CBRE Vietnam, Vietnamese have more choice to buy or rent houses due to current interest rate. In Vietnam, real estate price is much higher than average income, especially 5-10 years ago. However, the housing market experiences the recession, housing prices were pretty lower than before. Besides, the appearance is widespread source of cheap houses from 500-800 USD / m2 has made owning an apartment becomes more feasible. Interest rate of home loans was also down for four consecutive years, from a peak of 21% / year in 2011 to less than 12% / year this year. According to CBRE, with middle level apartments at VND 1.6 billion, young families can afford to pay 50% equivalent to VND 800 million and assume their mortgage lending flat 50% within 15 years with average interest rate of 12%, then, according to CBRE, every month they have to pay both principal and interest in approximately 9.6 million / month. After deducting the opportunity cost of apartment prices, income from savings, net payments to buy a house is about VND1.3 billion. Meanwhile, according to CBRE, for renting the equivalent apartments in Hanoi and Hochiminh City, people have to pay around VND 6 million /month and approximately VND 7 million /month, respectively. Assuming that renting price rose by 2% per year, the total cost after 15 years lease in Hanoi around VND 1.29 billion and VND 1.5 billion in HCMC. As the result of this study, it is better to buy house in Hochiminh City and rent house in Hanoi. However, it is noted that, interest expense should be firstly considered because it depends on the high or low prepaid amount. Therefore, if inhabitant in Hanoi can prepay a large sum of money, their better choice will be “buy”. And in HCMC, with higher rent than in the Hanoi and conditions as the incentive interest rate from bank, it will be the better buy. Source: Brief news from Gia Bao, Infonet The Government promulgated Decree no. 71/2014/ND-CP dated July 21, 2014 detailing Law on Competition handling violation in competition domain. Accordingly, since September 15, 2014, enterprises are subject to a fine of from VND 60 million to 80 million for imitating other advertising products to mislead clients, comparing their products or services directly with those of the same kind of other enterprise, VND from 80 million to 140 million for using misguided advertising on price, quantity, quality, utility, warranty time etc. Another notable point is the Decree increases fines imposed on acts of promotion for unfair competition and violation on multi-level sale. Accordingly, since September 15, 2014, a fine of between VND 50 million to 80 million, increasing by VND 45 million to 55 million from previous fines, is applied to acts of promotion giving false information on prizes or products to mislead clients. For enterprises paying the multi-level salespeople the totally annual commission, bonus and other financial benefits which exceed the 40% of the turnover of such year of the multi-level marketing companies, enterprises asking salespeople to deposit or buy products to participate in the network, a fine from VND 40 million to VND 60 million and from VND 60 million to VND 100 million will be applied respectively. Since September 15, 2014, an enterprise whose combined market share in the relevant markets is at least 30 % shall be fined up to 10% of its turnover of the financial year before the year in which one of these following violations is committed: Agreement on a fixed price for some or all goods; Agreement to reduce or raise the price at a specific rate; Exclusive dealing and market division, agreement to limit production and sales.. This fine also applied to enterprises committing following violations: Imposing the sale prices for goods and services, which causes damage to the customers; Imposing the quantity of supplied goods and services to create the scarcity in the market; Bid rigging; Agreement to prevent other enterprises from getting into market or developing business, etc. This Decree takes effect from September 15, 2014. Source: Ministry of Industry and Trade Website The Ministry of Information and Communications (MIC) promulgated Circular No. 07/2014/TT-BTTTT taking effect from 15/1/2015 and providing national technical standards on quality of short message service on the Public Land Mobile Network. These standards will apply to state management agencies and enterprises providing short message service. The quality of short message service on the Public Land Mobile Network will be managed according to regulations of State and the MIC. In addition, these standards will serve as a basis for users supervising the quality of short message service on the Public Land Mobile Network. Successfully delivered and received messages must account for 92% of total messages. It is required that the times of successful assess to service is more than 95% out of total assess according to the standards. The delay time to access the service successfully is set at less than 5 seconds (average) and the rate of successfully delivered messages is no less than 92% out of total messages delivered (excluding false messages). Enterprises proving short messages in Public Land Mobile Network must ensure the quality of services according to these standards, conduct procedures of announcement of technical-regulation conformity and be subject to inspection and supervision by competent state agencies. Responsibilities of enterprises providing message services are also detailed in regulations on telecommunications service quality control of Circular No. 08/2013/TT-BTTTT of the MIC. Additionally, Vietnam Telecommunications Authority and Department of Information and Communication are responsible for guiding and implementing the management of quality of message service on Public Land Mobile Network as prescribed in these standards. Source: Portal of the Ministry of Information and Communications Following the work plan of the Youth Union in 2014 and according to Plan No. 81-KH/ĐTN-BTC dated 30/06/2014 of the Standing Committee of the MoF Youth Union regarding the organization of blood donation campaign 2014, in response to the movement “Red Journey-Connecting Vietnamese blood”, on 31/07/2014, members of AASC Auditing Firm Youth Union participated in Blood Donation Ceremony organized by MoF Youth Union and National Institute of Hematology and Blood Transfusion. Giving blood to save people’s lives is a noble gesture, a precious tradition of Vietnamese people in general and AASC Auditing Firm in particular. Members of AASC Youth Union have enthusiastically participated in the movement, donating blood and bringing hope to patients. Particularly, Mr. Vu Xuan Bien - Manager of Auditing Department No. 2 and Mrs. Nguyen Hoang Trinh, Deputy Manager of Project Auditing Department and a number of AASC Youth Union members also donated blood this time, after giving blood in the movement 2013. This movement was a meaningful act, showing great humanity and mutual affection between Vietnamese people and attracted numerous citizens to take part in. This is also one of activities spreading the spirit and tradition of solidarity as well as responsibility of AASC Auditing Firm to the community, to the auditing and consulting profession. |
