State Audit Office respected as prestigious public audit agency hinh anh 1A view of the 53rd meeting of the Asian Organisation of Supreme Audit Institutions (ASOSAI)'s Governing Board held in Hanoi in 2018. (Photo: VNA)

Hanoi (VNA) - The State Audit Office of Vietnam (SAV) is highly regarded by members of the Asian Organisation of Supreme Audit Institutions (ASOSAI) for its prestige in public auditing.

Twenty-five years since its foundation, the SAV has posted numerous important achievements in public property asset management and financial management, contributing to the country’s development. It was elected ASOSAI Chair for the 2018-2024 tenure at the 14th ASOSAI Assembly (ASOSAI 14) it hosted two years ago, affirming its position on the international stage.

ASOSAI 14 adopted the Hanoi Declaration, which demonstrates SAV’s commitment towards ASOSAI’s mission to promote knowledge sharing and capacity building among members, with a focus on environmental auditing for the sustainable development of countries and the region.

During its over two decades as an ASOSAI member, the SAV has constantly taken steps to strengthen its role in the organisation’s development while making considerable contributions to international cooperation and capacity building among members. Joint audit operations within ASOSAI have also played a crucial role in reinforcing the friendship and mutual understanding between Vietnam and other regional members.

Over the past many years, the SAV has provided the State with timely and reliable information regarding the current state of governing mechanisms and institutions through its audit services. This creates an important basis for the Government, ministries, and other governmental bodies to make necessary amendments to the national legal framework, improve policy making, bolster the effectiveness of budget allocations, and enhance transparency in public financial management. Public assets under the management of ministries, governmental bodies, and local administrations have also been audited by the SAV, so as to “close loopholes” in State budget governance.

From 2013 to 2017, the SAV detected violations involved 195 trillion VND (8.4 billion USD), sent dozens of cases of suspected violations of regulations in public property and financial management to the police for criminal investigation, and provided information and documents to competent authorities to support their inspections and legal proceedings.

It has also proposed revising, amending, and cancelling hundreds of financial statements and documents issued in breach of rules or no longer corresponding with actual circumstances, to prevent losses and waste.

Chairwoman of the National Assembly Nguyen Thi Kim Ngan has spoken highly of the SAV, saying that after two decades of development, it has established itself as an important agency in Vietnam’s political system that helps the legislature effectively supervise the national finances.

She also praised the SAV for learning from international experience relevant to Vietnam’s context to build capacity among its team of auditors and advance the efficiency of new audit areas, such as operational audit, information technology audit, public debt audit, and environmental audit. Its proposals for amending, cancelling, and replacing legal documents that are no longer relevant have actively contributed to improving the State’s legal institutions and policies, the top legislator said.

ASOSAI was founded in 1979 and pursues a mission common among working groups of International Organisations of Supreme Audit Institutions (INTOSAI), that “Professional supreme audit institutions promote good State governance”, and with the core values of “Professionalism, Cooperation, Equality, Creativity”.

ASOSAI’s goal is to promote mutual understanding and cooperation among member SAIs through the exchange of ideas and experience in public auditing, creating favourable conditions for the training of State auditors to improve working quality and efficiency.

The SAV became a member in 1997. In the initial period of membership, the SAV primarily sent auditors to attend training courses and workshops sponsored by ASOSAI, to enhance professional capacity. Since 2010, the SAV has undertaken a more active role in the professional activities of ASOSAI./.