Illustrative image (Photo: SAV) Hanoi (VNA) - The initial results of the application of technology inaudit activities not only improved audit efficiency but also set further requirementsfor innovation in auditing in the digital era. To make technology more widespreadin the field, the State Audit Office of Vietnam (SAV) must continue to studythe matter and act accordingly.
The application of remote sensing technology in theauditing of mineral resource exploitation activities in Thuy Nguyen district, northernHai Phong city, proved to be entirely feasible. “For successful application, itis necessary to conduct detailed studies, from selecting suitable technologiesto building processes and procedures and perfecting the legal framework for eachsubject and audit,” said Duong Quang Chinh, Chief inspector of the SAV.
A workforce with professional and technologicalexpertise is needed in order to effectively apply new software in auditactivities, together with greater cooperation with experts to develop ITapplications. To turn new technologies into effective audit tools, the SAV isspeeding up training and engaging technological-capable auditors. Furtherattention is being given to developing software to support auditors and investmentsmade in specialised technological equipment.
Experience has shown that effectively adopting newtechnologies and turning them into important audit tools is very much needed. Tolay the foundation for the SAV’s technological activities in line with orientationsto build e-Government and develop a digital society and economy, the StateAuditor General has approved a comprehensive IT and development strategy forthe SAV in the 2019-2025 period with a vision to 2030. The strategy also sets aroadmap for switching traditional audits to digital audits based on big data,artificial intelligence (AI), and the Internet of Things (IoT) viadigitalisation and incorporating data relating to audit activities, usingdigital technology, particularly AI, to analyse and use data.
Notably, the draft SAV development strategy for the2020-2030 period with a vision to 2035 also sets out four basic contents,including developing the SAV amid Industry 4.0 and considering the application ofIT in its activities a regular and ongoing task in both the near and long terms.
The SAV’s orientation in technological application,especially in audit activities, is reflected in its development strategies andguiding documents, proving its determination in integration efforts, actively seizingopportunities, fully tapping advantages, and mitigating any negative impact fromIndustry 4.0.
IT application in audit activities also reflects theSAV’s pioneering role in its capacity as the Chair of the Asian Organisationof Supreme Audit Institutions (ASOSAI) for the 2018-2021 tenure.Apart from directing ASOSAI’s activities, the SAV has gradually affirmed itsposition with international audit organisations and ASOSAI members regarding reformvia specific commitments and actions.
One goal set for the 2026-2030 period is to conductregular annual audits of budget balances at ministries, centrally-run agencies,provinces, and centrally-run cities. Audits of operations, specialised audits,information technology audits, and audits of the environment will be promoted, withthese to account for 30-40 percent of all audits each year. Attention will be alsopaid to detecting loopholes in mechanisms, policies, and laws.
The SAV will work to move from conventional auditingprocedures to digital auditing based on big data, with the support of AI in aproactive manner, and improve auditing capacity to meet the requirements of theGovernment’s management of administration work and supervision work by theNational Assembly and People’s Councils.
Regarding internationalcooperation, professional integration will be the key pillar, towards the goalof quickly narrowing the gap in professional capacity between the SAV andcounterparts in the region and the world. Multilateral cooperation will begeared towards raising the SAV’s position in the international communitythrough joining in the implementation and drafting of common auditing standardsand rules. Meanwhile, bilateral cooperation will focus on the sharing ofexperience and technology to enhance the SAV’s capacity. The SAV will organisea various coordinated audits, send or receive auditors for training, andconduct cross-assessments with regional and global supreme audit agencies./.
The application of remote sensing technology in theauditing of mineral resource exploitation activities in Thuy Nguyen district, northernHai Phong city, proved to be entirely feasible. “For successful application, itis necessary to conduct detailed studies, from selecting suitable technologiesto building processes and procedures and perfecting the legal framework for eachsubject and audit,” said Duong Quang Chinh, Chief inspector of the SAV.
A workforce with professional and technologicalexpertise is needed in order to effectively apply new software in auditactivities, together with greater cooperation with experts to develop ITapplications. To turn new technologies into effective audit tools, the SAV isspeeding up training and engaging technological-capable auditors. Furtherattention is being given to developing software to support auditors and investmentsmade in specialised technological equipment.
Experience has shown that effectively adopting newtechnologies and turning them into important audit tools is very much needed. Tolay the foundation for the SAV’s technological activities in line with orientationsto build e-Government and develop a digital society and economy, the StateAuditor General has approved a comprehensive IT and development strategy forthe SAV in the 2019-2025 period with a vision to 2030. The strategy also sets aroadmap for switching traditional audits to digital audits based on big data,artificial intelligence (AI), and the Internet of Things (IoT) viadigitalisation and incorporating data relating to audit activities, usingdigital technology, particularly AI, to analyse and use data.
Notably, the draft SAV development strategy for the2020-2030 period with a vision to 2035 also sets out four basic contents,including developing the SAV amid Industry 4.0 and considering the application ofIT in its activities a regular and ongoing task in both the near and long terms.
The SAV’s orientation in technological application,especially in audit activities, is reflected in its development strategies andguiding documents, proving its determination in integration efforts, actively seizingopportunities, fully tapping advantages, and mitigating any negative impact fromIndustry 4.0.
IT application in audit activities also reflects theSAV’s pioneering role in its capacity as the Chair of the Asian Organisationof Supreme Audit Institutions (ASOSAI) for the 2018-2021 tenure.Apart from directing ASOSAI’s activities, the SAV has gradually affirmed itsposition with international audit organisations and ASOSAI members regarding reformvia specific commitments and actions.
One goal set for the 2026-2030 period is to conductregular annual audits of budget balances at ministries, centrally-run agencies,provinces, and centrally-run cities. Audits of operations, specialised audits,information technology audits, and audits of the environment will be promoted, withthese to account for 30-40 percent of all audits each year. Attention will be alsopaid to detecting loopholes in mechanisms, policies, and laws.
The SAV will work to move from conventional auditingprocedures to digital auditing based on big data, with the support of AI in aproactive manner, and improve auditing capacity to meet the requirements of theGovernment’s management of administration work and supervision work by theNational Assembly and People’s Councils.
Regarding internationalcooperation, professional integration will be the key pillar, towards the goalof quickly narrowing the gap in professional capacity between the SAV andcounterparts in the region and the world. Multilateral cooperation will begeared towards raising the SAV’s position in the international communitythrough joining in the implementation and drafting of common auditing standardsand rules. Meanwhile, bilateral cooperation will focus on the sharing ofexperience and technology to enhance the SAV’s capacity. The SAV will organisea various coordinated audits, send or receive auditors for training, andconduct cross-assessments with regional and global supreme audit agencies./.
VNA
