Internal audit is an integral and indispensable part in operation of listed and securities firms.
(Photo: tinnhanhchungkhoan.vn)

HCM City (VNA) – Ways to build and effectively operate internal audit along with international practice in the field were introduced to listed and securities companies at a workshop in Ho Chi Minh City on August 15.

At the event, held by the Ho Chi Minh Stock Exchange (HOSE) in collaboration with the US Institute of Internal Auditors (IIA) and Smart Train company, Deputy General Manager of HOSE Tram Tuan Vu affirmed that internal audit is an integral and indispensable part in operation of listed and securities firms.
 
He said HOSE will continue assisting listed and securities companies to improve business management by helping them apply advanced management models.

According to IIA President and CEO Richard F.Chamber, internal audit should focus on constant risk evaluation, thus enabling firms to quickly identify and respond to emerging risks.

Domestic businesses, including securities companies, have encountered problems in the establishment and operation of internal audit units to meet demand of market development, and international economic integration, he said. One of the problems is an acute shortage of internal auditors.

Deputy General Director of the Accounting and Auditing Policy Department under the Ministry of Finance Le Thi Tuyet Nhung shared the view. She stressed that improving quality of human resource in internal audit sector is a formidable challenge for the companies, as there are not many experts well schooled in internal audit in accordance with international standards.-VNA