On October 16, the Vietnam Association of Accountants and Auditors (VAA), PwC Vietnam Company Limited and the Institute of Chartered Accountants in England and Wales (ICAEW) in Vietnam held a ceremony to sign a cooperation agreement to implement the International Financial Reporting Standards - IFRS training program.
Accordingly, VAA officially issued and implemented the IFRS training program from October 2024. The program marks an important step forward in improving the capacity of professional teams working in auditing, accounting, finance, investment, analysis and portfolio management; thereby supporting Vietnamese enterprises to prepare for the application of international financial reporting standards according to the appropriate scope, subjects and roadmap.
The program is designed with the consultation of ICAEW Vietnam and PwC Vietnam, based on the approach, research of standards, guidelines and competency frameworks, current regulations on IFRS and survey of practical application in Vietnam. The training content is diverse, divided into 4 levels: Starter, Basic, Intensive and Advanced; with a total duration of 80 hours. The program is taught by a team of experienced lecturers from the Ministry of Finance, Academy of Finance, PwC Vietnam, ICAEW Vietnam and other educational institutions.
At the signing ceremony, Ambassador of the United Kingdom of Great Britain and Northern Ireland to Vietnam Iain Frew assessed that the application of IFRS will bring many benefits to businesses, including improving transparency and comparability of information in financial statements. This can help provide useful financial information more easily to stakeholders and attract foreign capital flows into Vietnam.
Meanwhile, Mr. Vu Duc Chinh - Director of the Department of Accounting and Auditing Supervision and Management (Ministry of Finance) highly appreciated the cooperation activities of the three units and expected this to be one of the first steps on the journey to achieve the big goal.
Mr. Doan Xuan Tien - Chairman of VAA shared: "As an organizing unit, VAA is committed to providing high-quality IFRS training programs that meet international standards and the practical needs of the Vietnamese market. We believe that IFRS training is an important step to improve the capacity of accountants and auditors in the context of a globalized economy. We also want to support Vietnamese enterprises in the process of converting to IFRS, helping enterprises build transparent and reliable financial reports."
“In addition to training, VAA also encourages research activities related to IFRS, aiming to find solutions suitable to the country’s reality. VAA understands that the application of IFRS is a process that requires careful preparation and is an important part of Vietnam’s international economic integration strategy, helping to enhance the country’s position and contributing to building a solid foundation for the sustainable development of the accounting and auditing industry in Vietnam,” Mr. Tien added.
Ms. Dang Thi Mai Trang - Chief Representative of ICAEW Vietnam Representative Office affirmed: “Vietnam is on the way to applying IFRS. I believe that applying IFRS standards in financial reporting will help Vietnam improve the business environment towards more transparency, help enhance competitiveness and corporate governance, and support financial reform. ICAEW is honored to accompany the implementation of a practical training program, equipping current professionals with knowledge and skills to apply IFRS professionally and effectively as well as building future human resources”.
Ms. Dinh Thi Quynh Van - Chairman of PwC Vietnam expressed: "We will design training materials that combine knowledge of IFRS standards and practical implementation experience in Vietnam, and directly participate in teaching to help students master both theory and practice of applying IFRS in Vietnam".
Phuong Dung
Source: https://vietnamnet.vn/trien-khai-chuong-trinh-dao-tao-chuan-muc-bao-cao-tai-chinh-quoc-te-ifrs-2332854.html
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