Illustrative photo (Source: savic.sav.gov.vn)

Hanoi (VNA) – The IT system has become an integral part of the State audit’s operation, covering its key aspects of survey, report and statistics, affirmed Deputy Auditor General Doan XuanTien.   

The State Audit Office of Vietnam has applied information and technology since 2011 to run a number of audits, build electronic database, and design audit assistance software. 

The IT-based audit model is new and requires further research for implementation when IT application becomes popular among audit agencies, Tien said.

According to a survey by the Vietnam Association of Certified Public Accountants, accounting and audit firms think the fourth industrial revolution will significantly impact them, creating opportunities for them to improve service quality and expand markets via internet connection.

The survey also point to challenges facing the sector. They include IT-competent staff requirement, huge financial investment, complex data management, and fierce market competition.

In order to capitalise on the advantages and tackle the challenges, Chairman of the Vietnam Association of Accountants and Auditors Dang Van Thanh said the sector needs to promote dissemination of financing, banking and accounting knowledge, boost human resources development, and increase IT application.-VNA