Walking on air of the New Year 2015, we would like to introduce 10 outstanding events of AASC Auditing Firm in 2014:
1. Foster cooperation and expand market share in the region and the world
In 2014, AASC was honorably selected as consultant for many priority projects such as: Project “Cayson Phomvihan Cultural House”, a meaningful present of the Vietnamese Communist Party, State and people to Laos; Project: “Mekong River Sub-region highway expansion” funded by Thailand Ministry of Transport. This is clear evidence showing that AASC image has been increasingly expanded in the region and the world.
2. HLB international reviewed and appreciated the quality of AASC audit documentation
In two days from 16th to 17th January, 2014, at AASC head office, Mr. Darryl Swindells, a member of Quality Control Committee of HLB International has reviewed and assessed audit and financial consultant documentation of AASC Auditing Firm - Member of HLB International in Vietnam. After the review according to strict regulations of HLB quality control policy, Darry Swindells has given a good grade on quality of AASC documentation, consulted and supported AASC to enhance the quality in accordance with HLB and international standards.
3. Promote appraisal and asset valuation
In order to diversify the service range, in 2014, AASC Auditing Firm has stayed focus on promoting appraisal and asset valuation services to transfer state-owned companies into joint stock companies such as: Airports Corporation of Vietnam; Vietnam Cement Corporation, Corporation No. 36 – Ministry of Defense, Railway Project Management Unit – Ministry of Transport. AASC has cooperated with Price Management Department – Ministry of Finance and Vietnam Valuation Association to ensure the best quality of professional services provided to clients.
4. Preliminary results from cooperation with other auditing companies
Along with Big 4 auditing companies, in 2014, AASC has expanded the cooperation with Vietnamese auditing companies and achieved good preliminary results. Through cooperation, the service fee, quality and timing has been significantly improved.
5. Invest in facilities in Ho Chi Minh City and Southern provinces
Following AASC Development Strategy in accordance with Vietnam Auditing and Accounting Development Strategy approved by the Prime Minister and Minister of Finance, in 2014, AASC has signed a contract to purchase the rights to use more than 600 m2 office space at District 4, Ho Chi Minh City. This office, which is positioned closely to District 1, will come to operation in early 2016 on the occasion of 25 years establishment of AASC and Vietnamese Independent Audit profession.
6. Lift up cooperation with international professional bodies
Along with ACCA, in 2014, AASC has been recognized by ICAEW and CPA Australia as “recognized employee partner”. Besides close operation with prestige professional body as ACCA, ICAEW, CPA Australia, AASC pledges to continuously improve the quality of human resource and professional services provided to clients in accordance with international standards.
At the ceremony to announce recognized partner certificate of CPA Australia, AASC Deputy General Manager Do Manh Cuong has also honorably become a new member of CPA Australia. At present, Cuong is a member of both ACCA and CPA Australia.
7. Revenue in the 7th fiscal year reached more than VND 136 billion
In 2014, AASC has achieved revenue of more than VND 136 billion, of which revenue generated from construction audit is VND 32 billion. That affirms the top position of AASC among Vietnamese auditing firms and helps AASC gradually be on a par with Big 4 auditing firms operating in Vietnam. Accordingly, AASC contributions to State Budget and charity have remarkably increased and living standards of AASC’s staff and their families have been improved.
8. AASC Branch in Ho Chi Minh City achieved highest revenue among departments and units of AASC
In the emulation atmosphere of all AASC’s Departments, Units and Branches before the 8th meeting of AASC’s Board of Member, AASC Branch in Ho Chi Minh City has become a bright example in increasing revenue in the whole company. AASC’s image has been expanded and trusted by numerous clients in Ho Chi Minh City and southern provinces. Chairman of the Member Board, General Director of AASC Ngo Duc Doan recognized the hard working and determination of all leaders and staff of AASC Branch in Ho Chi Minh City and believed that this Branch will continue accomplishing great achievements and contribute significantly to the stable development of AASC.
9. Establish new auditing departments (FIS1, FIS2) and appoint new key leaders
In order to strengthen the management model, AASC has established Foreign Investment Service Department No. 1 (FIS 1) and Foreign Investment Service Department No. 2 (FIS 2) from the former Foreign Investment Service and appointed new key leaders to these departments. AASC Board of Directors believed that the establishment of these two units will help AASC Auditing Firm improve the quality of professional services in accordance with international standards and expand AASC image in the region and the world.
10. The 8th Meeting of AASC Board of Member successfully organized, setting a new direction for the company’s operation
The 8th meeting of AASC Board of Member successfully took place in November 18th, 2014, summarized achievement of the company in the 7th financial year and 7 years of transformation from a SOE. The meeting also set a new direction for the company’s operation.
At the meeting, AASC Member Board has reached consensus on the company’s development strategy for the period from 2015 to 2017 in accordance with Vietnam Auditing and Accounting Development Strategy towards 2020, with a vision to 2030 approved by the Prime Minister in 2013.
BBT