Nguyen Hoang Phan Long

Nguyen Hoang Phan Long

On 06 July 2017, at AASC’s head quarter, AASC’s Trade Union and Communist Youth Union successfully organized friendly table tennis league with Department of Accounting and Auditing Regulation, Department of Emulation and Commendation - Ministry of Finance, facilitating a healthy workplace where AASC members can exercise physical health after stressful working hours.

All matches were open with numerous attractive situations. Well-trained and experienced players are Mr. Nguyen Hung Minh - Director of Department of Emulation and Commendation, Prof. Dr. Dang Thai Hung – Former Director of Department of Accounting and Auditing Regulation, Mr. Do Manh Cuong - Deputy General Director of AASC, Mr. Nguyen Anh Ngoc – Vice Chairman of the Trade Union – Senior Manager of Audit Department No. 6 as well as leaders of other Audit Departments and auditors showed the fans the true beauty of ping pong matches.

At the end of the occasion, Mr. Ngo Chi Cuong of the Department of Accounting and Auditing Regulation and AASC’s auditor Mr. Le Ba Lam claim the men’s singles crown and the men’s doubles title belongs to AASC - Deputy General Director Do Manh Cuong - and auditor Le Ba Lam. The event is ended with beautiful memories, warmly hugs and reflected the tighten relationships between AASC with departments under Ministry of Finance.

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Monday, 03 July 2017 15:15

Chairman's Letter

Thu ngo eng

On 16 June 2017, in Hanoi, AASC Auditing Firm held an intimate meeting to celebrate 10 years of transformation from SOEs into Limited Liability Company with two or more members (2007 - 2017). Attending the meeting were Mr. Nguyen Anh Tuan - Director of Price Management Department - Ministry of Finance, Mr. Vu Duc Chinh - Director of Accounting and Auditing System - Ministry of Finance, Ms. Ha Ngoc Ha - Deputy Chairman of Vietnam Association of Certified Public Accountants (VACPA), Ms. Le Thi Chuc - Former Specialist of the Corporate Finance Department - Ministry of Finance, Mr. Pham Huy Doan - Former Director of AASC and all members of the Board of Members together key executives of AASC.

At the beginning of the program, Deputy General Director Nguyen Thanh Tung summarized 10 years of converting AASC from SOEs into Limited Liability Company with two or more members (2007-2017) and development orientation of the Company. After, Mr. Vu Duc Chinh, General Director of the Accounting and Auditing Department, emphasized the role of AASC in the development of the independent auditing industry, and pledged to work to accelerate the successful implementation of the Vietnam accounting and auditing strategy was approved by Prime Minister.

On behalf of Board of Directors, Chairman - General Director Ngo Duc Doan expressed his gratitude to the support of the leaders of the Ministry of Finance and related departments and acknowledged the contribution of members of the Board of Management, auditors, appraisers and all employees of the Company for the success and development of AASC today.

Some images of the meeting:

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Monday, 26 June 2017 15:24

Newsletter No 06 - 2017

Legal update

Download attached file: Newsletter No 06.2017

On 24 May 2017, in coordination with the Vietnam Association of Certified Public Accountants (VACPA), the Ministry of Finance held an annual meeting of Directors of Audit firms, summarizing the operations and publishing the rankings of audit firms in 2016.

According to the statistics of the Ministry of Finance and VACPA, AASC is ranked as follows:
- Ranked No.5 (after Big4) by total revenue
- Ranked No.2 by revenue from project settlement report
- Ranked No.2 by revenue from State owned enterprises
- Ranked No.3 by revenue from valuation service
- Ranked No.4 by revenue from public companies
- Ranked No.4 by the number of audit practitioners

Below is the detailed data shown in the graphs TOP10 Audit firms:

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Thursday, 01 June 2017 10:58

Hello Summer 2017 - FLC Sam Son

Following the sequence of events celebrating the 26th anniversary of the establishment of AASC Auditing Firm (13 May 1991 - 13 May 2017), and the 10th anniversary of transformation from SOEs into limited liability companies with two or more members (2007-2017), for 3 days from 28 May to 30 May 2017, all officers, staffs of AASC had gathered together at Vinpearl Sam Son participating in “Hello Summer 2017” program with the theme “AASC - Aspiration and Proud”. The event took place with many attractive group activities, in order to enhance the exchange relations between divisions/ units of AASC.

On behalf of the Board of directors, at Gala Dinner, President/CEO Ngo Duc Doan summarized the values and traditions of the company for proud and worthy achievements according to comments and assessments of Professor Vuong Dinh Hue, member of the Politburo, Deputy Prime minister: “AASC is the leading company in the system of auditing companies in Vietnam”. At the same time, he highly appreciated the efforts of the Board of Directors, auditors, technicians and staffs of AASC over the years and sent his best regards to their family members, who are always stand behind and help them to accomplish the tasks. Followed by the games of the night Gala boomed of laughter and joyful moments for players as well as spectators witness.

The team building activities the next day took place on the beach Sam Son in a vibrant atmosphere, expressing the solidarity of the collective AASC. The hot summer climate of Sam Son was hotter and fiercely fueled by the enthusiasm and desire to win of the teams. With exciting new games such as Build cup tower, Magic pen, Labyrinth oasis, Passion of fire and who is the higher reminded of the spirit of solidarity and a deep appreciation of the AASC tradition through 26 years of construction and maturity. Final result, the first prize belongs to Hay Lam team with the members mainly from KT 2.

“HELLO SUMMER 2017” has remained in each AASC member with happiness, deep memories, and add strength to all member of AASC to overcome difficulty, prepare for the new journey to carry out the mission being one of the first two companies established in the independent auditing industry of the country.

Earlier, on 12 May 2017 at the branch in Ho Chi Minh City, the 10th anniversary (2007-2017) was held successfully for the third anniversary of the founding of AASC Auditing Firm Company Limited in Ho Chi Minh City contributes significantly to the success and growth of AASC.
Images at FLC Sam Son.

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Monday, 15 May 2017 11:44

Newsletter No 05.2017

Legal update

Download attached file: Newsletter No 05.2017

Tuesday, 25 April 2017 09:38

Newsletter No 04.2017

Legal update

Download attached file: Newsletter No 04.2017

On 22 April, 2007, at the International Conference Center (No. 11 Le Hong Phong - Hanoi), the Ministry of Industry and Trade held an awards ceremony for outstanding entrepreneurs and enterprises in the field of trading and services in 2016. AASC Auditing Firm was honored the third time as "Vietnamese Typical Trading Service Enterprise". On behalf of the Company's leaders, Chairman / CEO Ngo Duc Doan received the award, Certificate of Merit and Souvenir Cup from Minister of Industry and Trade Tran Tuan Anh.

The "Vietnam Top Trade Services" award is held every three years to encourage and honor businesses and entrepreneurs in 11 groups of trade and services that Vietnam committed to open its doors entered the World Trade Organization in 2007, including: environmental services, distribution services, financial services, construction services, information services, general business services, travel services , transportation services, health-social services, educational services and cultural services. This year, the title of "Vietnam - WTO 10th Year" marks the 10th anniversary of Vietnam's accession to the World Trade Organization (11/1/2007 - 11/1/2017), coincides with the occasion celebrating 10 years of AASC transformation from SOEs into Limited Liability Company with two or more members (2007-2017).

From over 400 nominations, through 3 rounds of selection, the Organizing Committee decided to award the Vietnam Top Trade Services Award in 2016 to the Top 10 "Excellent Trade Services Entrepreneurs 2016"; Top 10 "Excellent Trade Services Enterprises 2016" and Top 83 "Typical Top Trade Services Enterprises 2016". AASC is proud of being a very successful integrated enterprise of the independent auditing industry awarded by the Ministry of Industry and Trade for many consecutive years.

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Monday, 17 April 2017 10:02

Newsletter No 02/03 - 2017

Legal update

Download attached file: Newsletter No 02/03.2017

Monday, 06 February 2017 15:59

First meeting of the Lunar New Year 2017

Early spring meeting has become an annual nice tradition of AASC Auditing firm each spring. In the morning of 02 February 2017 (The January 6th of the Lunar New Year), general harmony in the air excited by the first working day of the new year 2017, Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff... of AASC Auditing Firm had the meeting on the occasion of the new year.

On behalf of the Board Members and Board of Directors, the Chairman - General Director Ngo Duc Doan was sent to all labor collective of the AASC Auditing Firm the New Year greetings of wellbeing, prosperity, new joys, and new victories. At the same time, he also announced the good news on the same day 8 am; AASC’s General Director signed contracts with traditional client - Viettel Telecom Army. The contract is worth a total of over 7 billion, alarm New Year’s success of AASC and collective employees.

Each individual is excited and eager to get lucky early luck of Leadership and Executive Committee of Trade Union. Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff... of AASC Auditing Firm toast the New Year in the common house. We will open a new spring, a new year 2017 with the determination to uphold the spirit of collective solidarity, consensus. The company’s Board of Directors is confident that this will help to maintain the strength AASC position helps maintain the leading position, while always reminding individuals improve themselves to welcome the successes, accomplishments of the following decade.

Photos at the meeting:

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Monday, 06 February 2017 11:01

AASC Labor Conference 2016

According to the annual tradition, on January 25, 2017 in Hanoi, AASC Auditing Firm’s Work Conference held in an atmosphere of openness, warmth and sharing eve Dinh Dau new spring 2017.

Companies are pleased to welcome Dr. Pham Huy Doan, the first Director of the company to share the joy with the Board of Directors, leaders of departments and units, auditors, audit assistants, technicians and staff of AASC Auditing Firm.

The conference heard Standing Deputy General Director Nguyen Thanh Tung reported the business activities achieved in recent years with the leading position of the audit firms in Vietnam. AASC revenue of the 9th fiscal year was over 167 billion, growth of 11% over the last year. At the same time, Mr. Nguyen Thanh Tung also mentioned orientation and development plan has been adopted by the Board of Members for the next financial year: Revenue growth of 10-15% compared with fiscal year IX; Profit after tax/equity: 15%/year; The number of auditors increased from 6-10 people; The average number of employees increased: 40-50 people.

Next, Deputy General Director - Chairman of Trade Union - Mrs. Cat Thi Ha also presented about trade union activities to be deployed in 2016 and the questions, dialogues AASC employees as whole interested and participated.

Earlier in 2017, internal newsletter No.1 of AASC Auditing Firm named “Khat vong Xanh” was noted AASC positive culture, help convey the message of the Board of members, Board of Directors and mount employee solidarity with the development of the company. At the same time, the Conference also announced the results of voting for the 4 articles were published in the first newsletter. Author Nguyen Hong Van, Auditor 1 department, received the largest number of votes (50%) with the poem "Nghi ve anh". Confided to the Conference, the author wishes the young people bring spiritual zeal to preserve and promote the AASC flames that the elder generation was nurtured.
Before closing the meeting, the Chairman of Board of Members/General Director Ngo Duc Doan noted and praised the contributions and dedication of the members of Board of Members and labor collectives in the past 25 years, especially in 2016, confirmed by the achievements of the firm AASC Auditing Firm ninth year as well as contributing to elevate the company's position in Independent Audit sector in Vietnam. Also at the meeting, the Chairman/General Director to thank to Former Director Pham Huy Doan, former Member of Board of Members, Deputy General Director Nguyen Quoc Dung and good AASC labor collectives with wishes "Cat Tuong", imply good luck, good healthy for a happy and successful new year Dinh Dau 2017.

Some pictures at the Conference:

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Saturday, 04 February 2017 09:19

Newsletter No 01.2017

Legal update

Download attached file: Newsletter No 01.2017

HÀ NỘI – Deputy Minister of Transport Nguyễn Ngọc Đông urged the Vietnam Railway Corporation (VNR) to enhance transport quality and use technology in management for sustainable development in 2017.
During a conference on VNR’s production and business plan in 2017 on Thursday, the deputy minister underlined efforts the railway sector made in 2016 to maintain growth.

According to Đoàn Duy Hoạch, VNR deputy director general, the company’s output and revenue hit VNĐ7.97 trillion (US$350.9 million), and VNĐ8.34 trillion, respectively, equivalent to 87.7 per cent and 88.8 per cent of the figures in 2015. The company earned post-tax profit of VNĐ137 billion.

Hoach attributed the fall in output and revenue to the reduction of its joint stock companies and networking due to divestment and equitisation.

The collapse of the Ghềnh Bridge in Đồng Nai, storms and floods in the central region, uncompetitive transport price, and newly-restructured subsidiaries also explained the corporation’s poor performance, Hoạch said.

To improve the sector’s competitiveness and efficiency in 2017, VNR aims to submit a proposal to the ministry to enhance the performance of the railway network nationwide, with focus on the Hà Nội-Vinh route.

VNR will also mobilize social resources, investing in means of transport and support facilities.

Additionally, the corporation will accelerate the implementation of key projects, particularly related to infrastructure and train building.

Efforts will also be made to better business management and reform administrative procedures. — VNS

Source: Viet Nam News

After a long absence, the luxury real estate projects in the Ho Chi Minh City recognized signs of prosperity. However, as identified by some investors at the Congress III of Ho Chi Minh City real estate Association (HoREA), luxury and above housing segment will hardly achieve good liquidity levels after more than a year having successful business.

According to Mr. Le Hoang Chau, Chairman of HoREA, in 2016, real estate inventory still has about 31.842 billion, 19.047 billion decrease compared to 2015. In which, Ho Chi Minh City inventory has 5.954 billion left, down 4.153 billion. Real estate market continues to recover, though not as strong as in 2015, but some segments still show attraction.

Operating results of the HCM City real estate market in 2016 showed that the average class housing which occupies 79,7% remains the leading segment. In terms of prices, in 2016, the apartment price rose approximately 5%, land sales prices increased higher, approximately 10%, depending on the type of product, utilities, or location.

In 2017, the real estate is forecasted to be still in the growth phrase, but the increasing can be slower than in 2016. Forecasts to 2020, the market will be adjusted to address the supply-demand mismatch currently tends to shift towards the premium segment (including real estate in terms of tourism and resort)

As reported by CBRE Vietnam, from the second quarter of 2016, the market saw buying back of luxury real estate with primary asking price from $ 3,500 / m2 (80 million/m2) or higher.

Trading activities of this segment has been quiet since 2014, has had a bit lively in QIII / 2015 and now there are signs of more robust with supply from Vinhomes Golden River (about 1,000 apartments of the Aqua), D'.Palais de Louis (242 apartments), the combination Madison (187 apartments), Waterfront Saigon (33 apartments), Lavenue Crown (200 apartments), The One (420 apartments), The Nassim Thao Dien (238 apartments) ... The majority of these projects are located in the favorable district 1.
Ms. Duong Thuy Dung - Director of Market Survey Department of CBRE Vietnam predicts that in 2017, the luxurious apartments will account for about 3% of the total supply. This ratio in 2016 was 1%.

Accordingly, in the next year, separate segment of average class housing in Ho Chi Minh City will receive about 10,000 apartments. Meanwhile, the segment of luxury apartments exceed double, most projects are located in the downtown district and the East. Typically, thousands of apartments in the project The Empire City are located in Thu Thiem, or more than 200ha of Novaland project in Thanh My Loi and 100ha of Him Lam Land at the former golf course in District 2 and of course, we cannot fail to mention urban areas of Dai Quang Minh Sala also with more than 100 hectares in the heart of Thu Thiem.

That's not to mention nearly 5,000 apartments in Saigon Peninsula project with an investment of over $ 6 billion and 4 other super luxury projects of Truong My Lan will debut in 2017 in the South.

Because many projects in this segment have huge area, so the supply from the East is very diverse in terms of price. Is probably the most expensive area of Thu Thiem at around USD4,000 - USD6,000 / m2. A little further is the Hanoi Highway, Mai Chi Tho, Dong Van Cong price falls between USD2,500-USD3,000/ m2.

Vo Van Huu Phuoc - Director, Head of Valuation and Research Vietnam Cushman & Wakefield, said that in 2017, the luxury segment with the growth, but high-end real estate groups have sizable supply. This could lead to oversupply by purchasing power and affects the luxury segment in the future. Mr. Phuoc also said that in 2017, the intermediate segment and affordable housing will still lead the market.


Gia Khang
Source: Tri thuc tre

The Government has issued Resolution renew trade agreement between the Government of Vietnam and the Government of the Philippines in the form of exchange of diplomatic notes.

Specifically, the Government agreed to extend the agreement between the Government of Vietnam and the Government of Philippines concerning Vietnam’s providing rice to the Philippines in the form of notes exchange and approved the content of the exchange of diplomatic notes.

The government authorized the Ministry of Foreign Affairs in collaboration with the Ministry of Industry and Trade to complete and to send a note to Philippines to renew the Agreement mentioned above and implementing external procedures involved.

Source: Vietnam Customs News

His comments came at a 2016 review meeting held in Hà Nội yesterday, during which he praised the Ministry of Industry and Trade (MoIT) for its successes in restructuring via reducing the number of units and staff while improving its effectiveness.
“It has stumbled, but not fallen. It has shown strong improvement,” he said at a conference yesterday.

The PM said that while the ministry removed several superfluous administrative procedures to resolve difficulties faced by people and businesses, it experienced limitations including decreasing output and crude oil prices, exerting pressure on the State budget.
Many projects had been tardy and suffered prolonged losses. Some planning strategies had not been effective, and failed to create the needed momentum to attract investment from the private sector, including into industries and sectors like automobile, mechanics, steel and electricity.
The PM said the market watch and trade border management agencies had also not been fully effective against smuggling and multi-level marketing activities. In addition, the restructuring of State-owned enterprises had been slow.
Some issues relating to the hiring of staff had dented the Ministry’s image, he noted.

“The Ministry should strive to develop the country’s industrial sector by reducing dependence on unsustainable advantages and natural resources such as crude oil, coal and minerals. The sector should base itself on science and technology and creativity to generate its development momentum,” he said.
He asked the ministry to formulate specific policies for development of key industrial products like automobiles, electronics and mechanics.
It should also develop industry to serve hi-tech agriculture, he added.

He also asked the ministry to build a national brand for key Vietnamese products.
The PM urged the industrial sector to quickly and actively integrate with and exploit ASEAN and China markets. The country should take advantage of trade pacts, improving market management and reducing counterfeit goods.
The mechanisms for e-commerce development and border trade should strive to break new ground, he said.
“The issue is also how to better exploit the local market with a population of around 100 million. The ministry should encourage Vietnamese people to use Vietnamese goods of high quality and reasonable prices,” he said.
Four targets set

Industry and Trade Minister Trần Tuấn Anh said the ministry had set four targets to help the country’s gross domestic product (GDP) grow by 6.7 per cent in 2017: increase industrial production index by 8-9 per cent; exports by more than 6-7 per cent; keep trade deficit to under 3.5 per cent of export revenues; and increase retail goods sales and service revenues by 10-11 per cent.
The ministry would step up restructuring of the industrial sector by stepping up development of processing and manufacturing sectors while reducing outwork and assembly of industrial products, he said.
Apart from removing a number of complicated administrative procedures, the ministry would strive to create the best conditions for enterprises to develop, the minister said.
He also said the ministry would take full advantage of free trade agreements (FTA) to actively support domestic enterprises participate in global supply chains.
It would also put forth policies to provide more assistance for support industries, while working with the involved parties to simplify customs procedures and supply businesses with useful information to prevent and handle trade disputes, he affirmed.
Anh proposed that the PM approves a particular mechanism to implement urgent power projects, a plan to restructure businesses under the Electricity of Việt Nam Group (EVN) in the 2016-20 periods, and a strategic scheme to develop the power sector through 2025 with a vision towards 2040.
He also recommended that the Government approves a framework for average retail electricity prices between 2017 and 2018, and a decision to increase the EVN’s chartered capital.
The Minister asked the government to direct the Ministry of Finance to support the Việt Nam National Oil and Gas Group (PetroVietnam) in implementing the government guaranteed undertaking (GGU) commitments on preferential tariffs for the Nghi Sơn Refinery and Petrochemical Complex for 10 years of commercial operations.
He also suggested the government consider ways to support the oil and gas, coal, and fertilizer sectors and amend Decree No 203/2013/NĐ-CP on calculating and collecting money from minerals mining. — VNS

Source: Vietnam News

From 12 January to 14 January 2017, in jubilantly atmosphere of the New Year 2017, AASC Auditing Firm successfully held training class on audit of settlement project organized and cooperated by Department of Quality control and Training, Department of Settlement for Investment, Project Department, R&D Division and Business Support Unit.

Speaking at the training class, Chairman/General Director Mr. Ngo Duc Doan stressed the importance of the audit of settlement project for over 25 years and development strategy of AASC up to 2027, vision to 2037. The training program is carefully prepared with the aim of continuously improving the service quality, in accordance with Vietnamese auditing standards No. 1000 - audit of settlement project report under Circular No. 67/2015/TT-BTC dated 08 May 2015 and Circular No. 09/2016/TT-BTC on 18 January 2016 of the Ministry of Finance. After the presentation of an audit report, audit records, paper work, professional ethics, Deputy General Director Pham Thanh Giang and Deputy General Director Pham Anh Tuan delivered a section to help auditor, auditor assistant clearly understand the requirements of standard bidding proposal as well as Bixtrix24 software to manage and archive the audit records in an efficient manner. Participants also have the opportunity of discussing, sharing professional knowledge and experiences with others, which reflect strong and tight relationship between each and every AASC’s members.

At end of the program, Deputy General Director Nguyen Thanh Tung assigned and believed that the auditors, technicians will improve their professional knowledge, and ethic, therefore audit of settlement project of AASC will continue to grow, confirming the leading role among Vietnam Auditing companies.

Images at the training class:

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Myanmar National Tele & Communications Co., Ltd (MNTC), a joint venture between Viettel Global, Myanmar National Telecom Holding Public Limited (MNTH) and Star High Public Company Limited (Star High) on Thursday officially received a licence to begin offering nationwide telecommunications services under the Mytel brand name.

The company has received a licence to operate for 15 years in Myanmar, its tenth market. It targeted to launch the telecom services within 12 months of receiving its licence and will cover 95 per cent of Myanmar’s market within three years.
Myanmar is Viettel’s largest foreign market, as its population is around 60 million.

“Our vision is to have a better network than other current providers when we launch our network. We will build a modern and wide telecom network across Myanmar quickly,” said Le Dang Dung, Viettel’s deputy general director.

Myanmar has been part of the strategy for Viettel’s market expansion, especially in developing Asian countries.
After 10 years of operation, Viettel has been listed among the Top 30 largest telecom companies in the world. Most of its foreign markets report profits and are listed among the largest companies in those countries.

Viettel will continue its sustainable and long-term investment strategy by considering telecommunication as a national infrastructure. This has been a factor in being successful in Viettel’s expansion.
Vietnamese telecom major Viettel holds a 49 per cent stake in the joint venture, while the local consortium of Star High and MNTH own 28 per cent and 23 per cent, respectively.

The fourth telecom operator is expected to invest an estimated capital of US$2 billion in the country over a five-year period and cover 95 per cent of the population in three years. With this project, Viet Nam takes the 7th position among the largest foreign investors, and second largest investor in ASEAN in Myanmar. — VNS

Source: ICT news

Friday, 06 January 2017 08:31

10 milestones in 2016

1. Successfully organize the Ceremony of 25th anniversary of AASC (13/5/1991-13/5/2016)
The Ceremony of 25th anniversary of AASC named “AASC – 25 years with Pride and Aspiration” has been numerous of customers, national and international enterprises, to attend, recognized and highly appreciated. A quarter of the century has passed; AASC today is not only the results of 25 years with pride but also the aspirations of the coming years, and contribute to the strength of Vietnam Audit.

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2. HLB International Conference of the Asia - Pacific region to achieve good results
“Transnational investment - Challenges and Prospects” is the topic of LHB Conference 2016. The conference was the opportunity for Member States to exchange, to learn from each other's experience, to connect efficiently and to aim the business development. Besides, the conference recorded AASC’s role in the progress of International LHB and Vietnam Audit.

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3. Appointment of Deputy General Directors and key leaders
This is the company‘s honor and proud when the Deputy General Director Vu Xuan Bien and the Deputy General Director Pham Anh Tuan, the persons with bright and professional ethics in the contribution to the company were appointed. In parallel, in order to strengthen the human resource to carry out AASC’s development strategy in nowadays competitive situation, The General Director has appointed Mr. Ngo Minh Quy to be the Director of Ho Chi Minh Branch. Besides, at the 10th Congress of Board of Members, the Board has approved the appointment of Mrs. Nguyen Thi Thanh Tu as the company Chief Accountant since 1st December 2016.

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4. AASC coordinates with prestigious partners to organize diverse seminars
With the special subject of tax policy and accounting applied in enterprises, and of cloud computing technology in the activities of enterprise management; via the seminars, AASC answered the enterprise’s problems in the practical application of the new policy. At the same time, the company has promoted the communication and contributed to spread the image of AASC.

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5. Achieve high rank according to data from Ministry of Finance and VACPA
According to the data publish at the Conference of Audit Company Leaders in 2016, AASC has rated 5th rank by total revenue (right after Big 4), 1st rank by number of audit practitioners, 1st rank by revenue from valuation service, 1st rank by Audit of Project settlement report revenue. The first ranks by numerous activities criteria mark the important achievement and responsibility of AASC in the contribution to the strength of Vietnam Audit.

6. Successfully held the Conference of 9 years of implementation the services of Audit of project settlement report
Since the date of conversion of AASC into the limited liability company with two or more members, after 9 years of implementation the services of Audit of project settlement report (2007-2016), in consecutive years, AASC achieved 1st rank in the revenue of Audit of project settlement report, according to data from Ministry of Finance and VACPA, contributing to maintain his position on Audit of project settlement report in Vietnam independent audit.

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7. Opening of AASC office in Ho Chi Minh City
With a total area of 600m2 used for the purposes of management, administration and business, AASC is the only audit company holding the offices in both Ha Noi and Ho Chi Minh City. This event helped raise AASC’s brand and position for audit activities and consulting activities.

8. Development of experts’ team holding international certificate
In the year of 2016, AASC strengthen the training of auditors and auditor assistants towards the goal of building a professional staff team with good moral qualities, professional expertise, with the purpose of internationalize the certificates. In the 10th financial year, two members of AASC have been certified CPA, ACCA and CIMA.

9. Promote cooperation with the audit firm in the industry
In the last financial year, AASC promoted cooperation with the auditing company in the sector to implement a number of services as the audit of project settlement report, the audit of financial statement, and the enterprise valuation. Promoting cooperation contributes to increase the revenue and the quality of services provided by AASC in particular and by audit firms in the industry in general.

10. The 10th Congress of Board of Members successfully organized
The 10th Congress of Board of Members has been successfully organized: The band of Audit firm AASC with historical mission, with the “oldest brother” position of the firms in the industry, and the traditional value were elevated in the Resolution of the Congress, and recorded as provisions of the policy, and as an inseparable part of AASC Company’s culture.

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On 20 November 2016, on the occasion of 25 years of the establishment of School of Accounting - Auditing - National Economics University and appreciation of Vietnamese Teacher’s Day, on behalf of Board of General Directors of AASC Auditing Firm, Ms. Cat Thi Ha – Deputy General Director of AASC aka. an alumnus of K37 Audit class honorably attended and awarded gifts to School of Accounting – Auditing - National Economics University.

During 25 years of development, School of Accounting – Auditing is one of the leading educational institutions in Vietnam in the field of accounting and auditing as well as a long-term and sustainable partner of AASC Auditing Firm – the leader among Vietnamese Auditing Firms. At the same age and together passing through difficulties, challenges and affirming the leading position, it is not by chance that School of Accounting – Auditing - National Economics University and AASC Auditing Firm can gain such proud achievements. Our two organizations regularly have had mutual support activities. School of Accounting – Auditing is a reliable training body, providing AASC Auditing Firm with qualified and skilled employees. Meanwhile, AASC Auditing Firm provides students of School of Accounting – Auditing with internship opportunities in the professional working environment.

At the ceremony, Ms. Cat Thi Ha, along with friends and teachers, reviewed the old good memories of student lives with dream and ambition. She also expressed her gratitude and congratulations to teachers who have made enormous contributions to high-quality human resources for Vietnam Auditing Industry so that AASC Auditing Firm can have highly qualified staff to bring clients with best quality services and great confidence.

Happy Vietnamese Teacher’s Day. Hopefully, two organizations will continue to accompany and well corporate with each other on the way to success in the next 25 years, 50 years and forever after.

Image of ceremony:

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On 20 November 2016, at the headquarter, AASC Auditing Firm has organized a meeting on summarizing 9 years of conducting audit of settlement projects since the AASC‘s transformation from SOE (2007-2016). The meeting’s attendees include General Director Mr. Ngo Duc Doan, Deputy General Director Mr. Nguyen Thanh Tung, Deputy General Director Mr. Bui van Thao, Deputy General Director Mrs. Pham Thanh Giang and leaders; auditors come from investment-settlement audit department, project audit department, and AASC’s branch in Ho Chi Minh City and in Quang Ninh province.

After the speech of units, Deputy General Director Mrs. Pham Thanh Giang delivered the report on summarizing 9 years of conducting audit of settlement projects since the AASC‘s transformation from SOE to Limited Liability Company with 2 or more members. AASC has maintained its leading role among Vietnam Auditing companies for many years and achieved the highest revenue from audit of settlement projects. At end of the meeting, General Director Mr. Ngo Duc Doan praised the efforts of the whole staffs and stressed that AASC need to continue improving service quality, opening more training courses, and assisting other auditing firms in an effective manner in order to contribute more to the development of Independent Audit sector.

Some images of the meeting:

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On 22 November 2016, at its headquarter, AASC Auditing Firm has organized the 10th Board of Member’s meeting with the appearance of members and 02 distinguished guests: Senior Manager of Foreign Investment Service Department 2 and Audit Department 6 in a jubilant atmosphere to celebrate its achievements during 09 years since AASC’s transformation from SOE (2007 – 2016), and maintain the TOP5 position in Vietnam Independent Auditing.

The Tenth Meeting was marked with number of highlights: Revenue increased by over 10% compared with the financial year VIII, audit services of the Company increased by 7.24%, in which audit services of project settlement rose by 17.64% compared to the previous financial year; the consulting service has witnessed a significant increase by 81.57%. The Member of Management Board of the Company has discussed thoroughly about setting targets, direction, and action plan of AASC auditing firm for the 10th fiscal year. With the appointment of two new Deputy General Directors, one Director at AASC’s branch, one Senior Manager, AASC believes in the 10th fiscal year, the Company will achieve more success and towards the successful implementation of the development strategy of AASC.

At end of the meeting, Chairman of the Board of Member, General Director of AASC Auditing Firm, Mr. Ngo Duc Doan has praised for the efforts of the Board of Members, especially he showed his grateful for the significant contribution of Member of Board of Member - Deputy General Director Mr. Nguyen Quoc Dung, also Mr. Ngo Duc Doan called for wholehearted contribution of all members for AASC’s development in the following years. The Chairman also believed that with the right strategy and the consensus of all members, Board of General Directors, auditors, managers and staff, AASC Auditing Firm will develop strongly and stably, confirming its leading role among Vietnamese auditing companies.

Images at the Meeting:

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AASC announced signature of two newly appointed deputy general director: Attached file

Monday, 17 June 2019 13:49

Recruitment and career development

Career development

The quality of human resources has been a top priority of AASC Auditing Firm. Therefore, the company always focuses on professional training and cultivation for employees’ advancement and their career development goals. We believe that AASC is one of the best career opportunities for your future.

Let’s start your career today with AASC.

2018 07 20 Bieudo

Annual recruitment plan

Annual AASC’s recruitment plan in Hanoi, Ho Chi Minh branch and Quang Ninh branch as follows:

* Financial Audit Internship: Applications submitted in September every year. Examination and interview are expected at the end of October and/or beginning of November. Examination results shall be public in the first week of November. Well-assessed interns will be taking the tests at the beginning of May to become AASC's new staff after 03-month of Internship program which lasts from January to April. In the last two weeks of June, a training program will be organized for new employees who are going to sign the labor contract from 01 July.

* Financial Auditor Assistant for fresh graduates, auditors and/or experienced auditors: Applications submitted in June every year. Examination and interview are expected at the end of June and/or the first week of July every year. Examination results shall be public in the first week of July. Successful candidates will join new staff two-week training and sign official labor contract immediately upon the start of the training.

* Audit of project settlement report; Accountant; Tax Consultants; Audit of Financial Statements and/or experienced auditor; and Information Technology Specialist: Information posted regularly on AASC website and Facebook. Successful applicants will be notified by telephone for interview or take a professional examination depending on the quality of the application.

Even if there are no appropriate applicants, experienced candidates can easily join AASC with the "Future Career Opportunities" program at http://online.aasc.vn/careerwithaasc

For more information, please Like AASC Facebook at https://www.facebook.com/aascnews

Wednesday, 02 November 2016 22:46

Growing up under difficulties

On behalf of Audit Department No. 7, Senior Manager Mr. Nguyen Ngoc Lan has reported results of the Department in the fiscal year IX, as well as advantages, opportunities, obstacles and challenges. In the fiscal year VIII, revenue of Audit Department No. 7 rose by 33%, ranking No.2. On this occasion, Senior Manager Nguyen Ngoc Lan showed his gratitude to General Director, Board of Directors in supporting Audit Department No. 7 to accomplish the assigned tasks and praised the efforts of all members of Audit Department No. 7 in contribution to the sustainable development of AASC.

Speaking at the Meeting, Chairman of the Board of Member – General Director of AASC, Mr. Ngo Duc Doan complimented Audit Department No. 7 on its excellent performance in the fiscal year IX. He also set target, directions for the Department in the next fiscal year and inspired people with AASC’s development.

The meeting was ended with number of repertoires, putting a highlight for the successful of the 9th fiscal year. Four years have passed and marked with efforts and proud achievements of Audit Department No. 7. For the upcoming years, the Audit Department No. 7 will commit to contribute more to the AASC’s growth.

Images at the Meeting:

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On the occasion of Vietnamese Women's Day 20/10, at AASC’s headquarter, Trade Union and Youth Union of AASC Auditing Firm jubilantly organized a meeting to congratulate female staff, auditors, technicians as well as marked 86-year anniversary of the establishment of the Vietnam Women's Union (20/10/1930 – 20/10/2016). Attendees at the ceremony include representatives of the Board of General Director, Trade Union and Youth Union, representatives of the departments, units, and branches together with female staffs, auditors and employees of the company.

Speaking at the ceremony, Head of Trade Union – Ms. Cat Thi Ha, on behalf of the Trade Union and female staff, expressed the special thanks to the Chairman, Board of Directors and male staff for their deeply caring. Also, she wishes the female staffs and their family health, happiness, good work and constantly striving for strong growth of AASC.

On behalf of Member Board and Board of General Director of AASC, Chairman and General Director – Mr. Ngo Duc Doan sent his regards to female auditors, officers and staffs and gave credits to their significant contribution in the development of the AASC as well as in Independent Auditor sector and wishes them beauty, health, happiness, successful completion of all assigned tasks.

Special repertoires performed by Youth Union of AASC made a great end to the meeting. It closed in the joyful and warm atmosphere.

Photos of the meeting:

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At the ceremony, the Chairman of Board of Members - General Director Mr. Ngo Duc Doan praised the contributions of the members of the Member Board including newly appointed leaders in the development of AASC today. This is the pride of AASC to have strong and professional leaders, which is an important element for the implementation of long-term plans and development strategy of the AASC in the context of current fierce competition with Big 4 and other companies. Additionally, General Director Ngo Duc Doan encouraged newly appointed leaders to accomplish the assigned tasks with strong spirit together with all leaders and staffs of the Company to maintain AASC’s leading position among Vietnamese Auditing Firms.

On behalf of newly appointed key leaders, Mr. Vu Xuan Bien expressed sincere thanks to leaders of AASC for being supportive and entrusting them to excellently complete all assigned tasks, together with the leaders and staff of AASC to strengthen and expand the image of the AASC locally as well as globally.

Photos of the ceremony:

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Wednesday, 19 October 2016 09:01

AASC Cup 2016 successfully held

 

AASC Cup 2016 successfully held from 3/10/2016 to 15/10/2016 in Ha Noi with the participation of nine teams comes from all Divisions/Units within the Company. With the encouragement of the Board of Directors and excitement of all supporters, all players have shown their full strength, solid spirit to the audiences, especially in the final match with the competition between Project Department and Audit Department No.5. First half of the final match concluded with a draw. In the second half, the Project Department excellently took the lead but Audit Department No.5 had the equalizer with beautiful teammate playing. The breakthrough of the contest came from the striker of the Project Department. With his long shoot, the Project Department earned the trophy of the football tournament this year. Congratulations to the winner of AASC Cup 2016!
Closing an exciting season, all leaders, auditors, auditor assistants and staffs of AASC have a chance to improve their physical ability through participating in physical training and sports movements, thus contributing to the development of AASC.
Some photos of AASC Cup 2016:

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On the occasion of Vietnamese Entrepreneurs’ Day (13 October), in the evening of 11 October 2016, at Friendship Cultural Place (Hanoi), Board of Emulation and Commendation together with Vietnam Chamber of Commerce and Industry (VCCI) organised a launching ceremony of patriotic emulation program “Vietnamese Businesspeople to integrate and develop” and award ceremony to outstanding Vietnamese Businesspeople 2016 that have made an remarkable achievements to business activities, and humanitarian activities.

Prime Minister Nguyen Xuan Phuc launched the ceremony of patriotic emulation program and with Vice President of Vietnam Dang Thi Ngoc Thinh, Chairman of the Central Committee of the Vietnamese Fatherland Front Nguyen Thien Nhan, President Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc awarded Saint Giong Trophy to outstanding business people 2016.

At the ceremony, Mr. Ngo Duc Doan, Chairman of Board of Members – General Director of AASC Auditing Firm Company Limited was honored to be the one of 100 outstanding Vietnamese Business people to receive Saint Giong Trophy in 2016 for his relentless efforts, and creative thinking. He has led AASC with the Board of Directors for over 25 years of operation, achieved success and achievements, strengthening the firm’s strong growth in the current context of deeper global economic integration and confirming the leading role among Vietnamese audit firms. He received prestigious ‘Outstanding Vietnamese Businesspeople 2016’ title in recognition of his remarkable contributions to the Vietnamese Independent Audit in general and to AASC in particular. This is the pride and joy of all AASC staffs. 
Photos at the Ceremony

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Prime Minister Nguyen Xuan Phuc launched the ceremony of patriotic emulation program

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Mr. Ngo Duc Doan, Chairman of Board of Members – General Director of AASC Auditing Firm Company Limited received Saint Giong Trophy in 2016

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Director of Department of Emulation and Commendation – Ministry of Finance congrats


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In recent years, the application of cloud computing technology has created a new trend in governance activities and is now considered as the key to the success of many businesses. Catching up the trend, on 30 September 2016, AASC Auditing firm - One of the top accounting, auditing, tax consultants and management consulting businesses in Vietnam, also a trustworthy partner providing information technology (IT) solutions and business management of Microsoft, in collaboration with Department of information and Communications of Quang Ninh province and Microsoft Vietnam organized a Conference "Network safety security solutions and Cloud computing for agencies and enterprises in Quang Ninh province. The conference was held successfully with the participation of representatives from more than 20 Departments and leaders of many enterprises in Quang Ninh province. Representative of AASC participated in the Conference included: Ms. Pham Thi Thanh Giang - Deputy General Director in charge of Business Consulting, Mr. Pham Anh Tuan - Head of IT department, IT application consultant and Ms. Nguyen Thi Thanh Ha – Tax Consultant.

At the Conference, delegates analyzed the current situation of IT development, especially issues regarding optimizing the cost of investment and application of information technology, preventing the risk of confidential problems, impact of policy changes on the selection of technology application. Therefore, many solutions and direction for IT development of businesses are introduced and discussed regarding cloud computing platform. In addition, experts participating in the Conference also provided an update of tax policies applicable from 01 July 2016. The Conference ended with excitement, theoretical and practical situation. The Conference is considered as an important step for the long-term cooperation between AASC and other units, agencies, and businesses in Quang Ninh province. At the end of the Conference, many believe that effective combination between AASC‘s deep understanding on the enterprise management and Microsoft on technology applications regarding cloud computing platform will certainly bring optimal solutions to meet the needs of businesses in the new era.

Some pictures of the Conference:

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From 1 September 2016, the Export-import tax Law has effect. With many new points in the direction of progressive amendment in order to satisfy the requirement of intergration and development, the 2016 Law is expected to bring about positive effects and to promote economy development.

Reasonable protection of domestic production and business
The 2016 Law of Export-import taxes added the rules of anti-dumping tax, anti-subsidy, anti-discrimination to protect the domestic production and business in conditions of international intergration, based on upgrading and supplementing the provisions of the relevant current Ordinance.

Specifically, the Law added the tax regulations applicable to exports and imports including anti-dumping duty, anti-subsidy duty, and safeguard duty include conditions applied, the principle applied and the time limits applicable to each type of tax.

Based on tax levels, quantity or values of goods subject to anti-dumping duty, anti-subsidy duty, and safeguard duty, customs declarant shall declare and pay tax according to legal regulations of tax management.

At the same time, the Law was amended guidelines issued tariffs and tax rates. Encourage imports of raw materials, materials and priorities which can not meet the demand; focus on developing high-tech sectors, technology resources, save energy, protect the environment; in line with economic development orientations - of the State and social commitments on export taxes, import duties in the international treaties to which Vietnam is a member. The principles will contribute to stabilizing the market and the state budget revenues; simplicity, transparency, facilitates the taxpayers and reform of tax administration procedures.

Reforrm the authority to issue the export tariff, import tarriff and export tax brackets. Accordingly, the Government has the authority to issue: Export tariff; preferential export tariff; preferential import tariff; Special preferential import tarriff; the list of goods and the absolute tax rate, the tax mix, import duties beyond the tariff quota.

In needed case, the Gov submits to the National Assembly Standing Committee for amending and supplementing the export tariff according to the List of taxable commodity groups and export tax brackets for each taxable commodity group, issued together with the Law.

The Law also supplemented, amended regulations on import tax exemption for certain commodities such as: Goods with a value or the amount of tax payable under the minimum level; Raw materials, supplies and components imported for production of export goods; plant breeds; animal breeds; fertilizers, plant protection products which can not be domestically produced, imported necessity as prescribed by the State management agencies competent; Machinery, equipment, raw materials, supplies, components, parts and accessories imported for printing and minting money; Goods exports and imports to protect the environment...

Additional provisions to improve the system of tax law
To contribute to improve the legal system, consistent with relevant legal documents, while overcoming the problems arising during the implementation of the current Export-Import Tax Law, Law has been amended and supplemented several notably provisions.
To supplement spot export and import goods and export goods of enterprises to implement the export and import rights, distribution rights on taxable; Transshipment of goods not subject to the tax.

To supplement taxpayers for Import Export organization entrusted, persons authorized, guaranteed pay tax on behalf of taxpayers, including:
- Agents to do customs procedures authorized by taxpayers in case of export and import tax payment
- Enterprises providing postal services, international courier services internationally in cases of tax payment on behalf of taxpayers.
- Credit institutions or other organizations operating under the provisions of the Law on Credit Institutions in the case of guarantee or pay tax on behalf of taxpayers.
- Persons authorized cargo owners in cases where goods are gifts, personal gifts; luggage consigned before or after the trip of the exit and entry.
- Branches of enterprises authorized pay tax on behalf of the enterprises; for the purchasers and transporters of goods in the duty-free allowance of border residents, but not used for the production and consumption that are sold in the domestic market and foreign traders licensed to trade goods export and import in border markets in accordance with law; whose exports and imports not subject to tax, tax exemption, but then there is a change and switch to taxable under the provisions of law.

To supplement mixed tax calculation method which the total amount of tax is relative and absolute amount of tax; duties on goods imported tariff-quota; time tax calculation for the case of changes of subjects to tax, tax exemption and apply absolute duty tariff quota.
To amend regulations on ordinary tax rates, the taxable value, tax calculation time; tax exemption for goods sold or exchanged by border residents...

Additional provisions in cases of exemption from import duties, export duties on machinery, equipment, vehicles, tools and supplies used to be imported which can not be produced according to the list of goods environmental protection by the Ministry of Planning and Investment regulations and export products of environmental protection activities to conform to the provisions of the Law on environmental protection.

At the same time, additional import duty exemption on machinery, raw materials, materials for direct production software products to conform to the provisions in the Law on Science and Technology.

With many provions revised in the direction of progress, meet the requirements of integration and development, the Law on Export and Import Tax in 2016 is expected to bring a positive effect, promoting economic development.
Edit Law toward conformity with international practices

To conform to international practices, Export-Import Tax Law 2016 has added provisions on export tax applicable to cases where the goods exported to countries, groups of countries or territories with preferential export tax agreement in trade relations with Vietnam.
Regulations on preferential tax rates applied to goods from non-tariff areas imported into the domestic market to meet the conditions from countries or groups of countries or territories made to MFN treatment trade in relations with Vietnam.

The law also provides for special preferential tax applied to goods from non-tariff areas imported into the domestic market to meet the conditions from countries, groups of countries or territories with preferential import tax agreement in trade relation with Vietnam. The ordinary tax rates apply to goods imported under the circumstances non-applicable preferential tax and special tax incentives.

The ordinary tax rates prescribed by the preferential tax rate are 150% of each category respectively. In case the preferential tax rate of 0%, the Prime Minister grounds specified in Article 10 of the Law to decide on the application of the ordinary tax rate.

Additional provisions for tax payment deadline taxpayers applying the priority regime under the provisions of the Customs Law towards tax payment is made to the customs declaration clearance or release of goods at the latest on the 10th of next month ...

Simplified administrative procedures
Law amends and supplements several provisions to simplify, facilitate the taxpayers; contribute to improve the administrative reforms, improve the business environment and improve national competitiveness, such as: Transfer of goods as raw materials imported for production of export goods from taxable objects at the import stage and make refunds when exported to the tax exemption to encourage the production of export goods, simple administrative procedures, in line with international practice; cargo temporary import for re-export from taxable objects at the import stage and make refunds when exported to the tax exemption is conditional on the guarantee, deposit matching international practices ...

Quicky put the Law into practice
Import-Export Tax Law 2016 with lots of new content, progressive, more suitable to the international integration process of Vietnam as mentioned above. But, to the Law quickly come to life, in addition to construction and promulgate documents guiding the implementation of laws in a timely manner, specific, objective and ensure respect for the guiding ideology and principles specified in the Law, then the phase to implement fully and promptly, uniformly extremely important role.

Therefore, the State management agencies need timely training, common for officials and civil servants to do their duty to understand, grasp the basic content, core, especially the new contents and guidelines in order to ensure implementation of law enforcement in uniform, consistent and timely.

Regularly monitor the implementation of Export-Import Tax Law 2016, especially in the early stages to implement timely grasp the issues, problems and difficulties arising from the business trading Export-Import activities, which have measures to solve, resolve and respond quickly, facilitating the enterprise; or suggestions and proposals to the Government and the relevant authorities to consider and resolve the problems beyond their competence.

Strengthen inspection and surveillance of the implementation of the Law; improve professional capability, moral quality of cadres and civil servants in charge of ensuring the effective and efficient management of state on taxes on export and import goods.

Together with the quick practise of the State management agencies, businesses trading Export-Import activities and the industry associations also need to monitor and update new contents amended and supplemented, ensuring grip and compliance.

Timely detection, reflected with the relevant State authorities about the problems and difficulties arising during the tax procedures for exports and imports, also to propose suggestions and proposals for solutions to solve problems arising.

To coordinate with the State agencies in monitoring, detecting negative behavior of taking advantage of the provisions of law for fraud, profiteering on taxes on exports and imports of both staff public and businesses to timely rectify and prevent and strictly handle violations of the Law.

The Government Office has announced the Conclusion of Deputy Prime Minister Vuong Dinh Hue at the meeting on draft Resolution about tax measures to solve difficulties, obstacles, boost the enterprise’s development.

The announcement clearly states that the draft Resolution is in line with the policy stipulated in Resolution No. 35/NQ-CP dated 16 May 2016 on supporting and developing enterprises by 2020. Contents of the draft Resolution have been commented by the concerned ministries and agencies and evaluated by the Ministry of Justice. However, there are still many different opinions on the draft Resolution.

In order to promptly complete the draft Resolution and report to the Government at its regular meeting in October 2016, the Deputy Prime Minister requested the Ministry of Finance to promptly complete the draft Resolution in accordance with Resolution No. 35/NQ-CP; To select the urgent contents to be immediately removed and applied in the shortest period, including reports on current issues of the land rent policy applicable to enterprises.

In addition, the Deputy Prime Minister asked the Ministry of Finance to report to the Government on the amendment and supplement to current regulations for long-term implementation.

Proposed solutions applied to small and medium enterprises, including start-up enterprises, information technology enterprises must be consistent with the provisions of the draft Law on supporting small and Medium Enterprises. In cases the Law on supporting small and Medium Enterprises do not prescribe the criteria and tax incentives, the provisions of such contents should be supplemented under the draft Resolution for timely implementation in 2017 and 2018. The Ministry of Finance shall report to the Government to submit to the National Assembly on amendment and supplement to the tax laws for long-term implementation.

There is no provision on offsetting income from real estate transfer with losses from production and business activities when determining income subject to corporate income tax. The Ministry of Finance shall review and evaluate the implementation of the Law on Corporate Income Tax No. 32/2013/QH13, including this issue to propose to the Government for amendment and supplement of the Law if necessary.

The Deputy Prime Minister agrees on the policy of remission of late payment for taxpayers who supply goods and services which are paid by the state budget.

This Resolution does not specify provisions on debt remission, tax freezing, late payment, fines for dissolution, bankruptcy because it is not related to enterprises’ issue. In case of necessity, the provisions shall be regulated in other documents.

The corporate income tax incentives for investment and renovation of old apartment buildings will be 15%, if they are accounted separately and implemented in 2017 and 2018.

The Deputy Prime Minister also asked for a clarification on the impact of the solution to reduce personal income tax to 50% on income from salaries and wages of individuals working in the field of high technology, application of high technology under agriculture sector and processing agricultural products to solve difficulties for businesses. In case of necessity, it shall be applied only to individuals working in the hi-tech sector in small and medium enterprises, sectors and prioritized business lines in 2017 and 2018. In long-term, the Law on Personal Income Tax should be amended and supplemented appropriately.

Source: Ministry of Industry and Trade portal

 

Boosting the credit policy in order to develop economic – social receives the special priority from State Bank. Besides the policy for the poor household, the Bank is trying efforts to decrease the loan interest and to satisfy the expectation of the enterprises.

Effective implementation of credit policies
The State bank Governor and Chairman of The Social policy bank, Mr. Le Minh Hung announces that The Social policy bank is carrying out 22 credit programs for poor, nearly poor and priority people. To date 31 August, total outstanding credit programs policy in The Social policy bank have increased 5.7% in comparison with end of 2015, with 8.4 million of clients have debt. The overdue debts have a small ratio, only 0.44% of the total debt.

According to the regions, the credit for poor people to date 31 August in the Nord West reaches 26.506 billion, decreases 8.58% in comparison with end of 2015, with more than 1.2 millions of clients have debt, and the overdue debts attain 0.44% of the total debt.

In this region, there are 3 enterprises was chosen to participate the experimental lending modal program for agricultural development with the total loan commitment from commercial banks up to 318.5 billion. 2 projects receive loans are The project of Investment in processing and consumption of tea with the disbursal sales of 26.95 billion in Lao Cai and The modal Project of joint production with farmers to expand the area to maintain sugarcane with the disbursal sales of 60 billion in Tuyen Quang. They are the projects of typical enterprises in terms of high-tech applications in agriculture in all over the country which was chosen to be the modal with the purpose of implementing the policy of restructuring the agricultural sector of the Government.

In Tay Nguyen, the total debt to date 31 August reaches 13.009 billion, decreases 7% in comparison with end of 2015 with 666,406 household having debt according to the programs, overdue debt ratio is 0.38%. Here, Projects of production lemon water and planted orchids has loans with the loan sales of 109 billion, debt of 47 billion, almost debt are long term and medium term debt with the loan interest of 5.5% per annual.

In the South West, to date 31 August, total debt for poor people in the delta of Cuu Long reaches 26,550 billion, decreases 5.1% in comparison with 31 December 2015, with more than 2 millions of clients have debt, and the overdue debts attain 0.44% of the total debt. In this region, there are 10 production projects of high-tech which was allowed to implement the modal program. After 2 years of application, with the help of the loans from the banks, the enterprises are able to perfect the modal in agriculture production of the chain link, high technology that bring profit to households and enterprises, for example the Modal of investment in linking production chains and consumption of vegetables Antesco, the Modal of catfish Tafishco, the Modal of big field…

“The State Bank continues to seriously implement the guidelines of the Party and the Government in order to effectively carry out the credit program for poor people. To ensure social policy is an effective tool for credit program for poor and other priority people” The Governor Le Minh Hung confirmed

(VIR) When facing with complicated terminology, figures on the financial statements of a business, I often ask for help from experts of AASC Auditing Firm. But the conversation with the CEO of the "made in 100% Vietnam" audit firm recently has brought interesting stories beyond the business issues.

07 ZGFL

1. 13rd, May 1991 is a memorable day with Mr. Doan and his comrades when they were assigned by Ministry of Finance to work at AASC, one of the first two auditing firms in Vietnam. Looking back at the journey of 25 years of development of AASC, including several years as the leader of AASC, he said: "I have something, my it be destined to work with my comrades here when experiencing many obstacles, they always have faith in me."

He recalled, the time AASC transformed its model from state-owned companies (under the Ministry of Finance) to limited liability Company with two or more members (in 2007) was a difficult period of the company when number of auditors reduced from 118 auditors to only 36.

He said during that period, the stock market and banking sector boomed, attracting many auditors to quit their job or establish new auditing firm. Whereas old members were aware of that the company was facing with lot of challenges and tried to acquire the company.

In order to deal with this matter, he and other leaders aimed to quickly stabilize the company’s operations. In the first two years, AASC generated low revenue, but retained customers, strengthen the confidence of the personnel of the company. In 2009, AASC fell to No. 6 on the audit market, but in 2010, the Company has reached the 5th place after Big4 and maintained its position until now.

In celebration of 20 anniversary of AASC’s establishment from 5 years ago, former Auditor General, Deputy Prime Minister Vuong Dinh Hue stressed that: "AASC maintained the leading position among Vietnamese auditing firms". Indeed, AASC always proud to be the No. 1 audit company in Vietnamese auditing companies, pure Vietnamese auditing company, Integration without assimilation.

Mr. Doan shared his thoughts of what made him most proud of 25 years of driving AASC, which was not the revenue or market share but the cohesion between members, people was together in difficult time and “That was a huge success ".

The consistency and cohesion are expressed among members of the Board of Members and within the company. They, together, made the right decisions to lead the company and auditors when they perform the tasks throughout the country to overcome temptation.

Members of the Board of Members of AASC currently have 31 members including 16 female members. Audit is a difficult job when it requires auditors to check the figures on financial statements and ensure the compliance with standards and regulations. Besides, not only the long business trip throughout the country, especially in peak season, they must release audit reports to meet the deadline of clients. For women, the challenges seem to be more, because they not only accomplish the assigned task for the company but also they have to take care of their families.

2. Vietnam audit sector was opened freely for foreign audit companies, 5 big audit companies entered the market since 1990. Mr. Doan said, AASC has been integrated since its transformation and learned from Big 6, Big 5 and Big 4 audit companies. Auditors of AASC not only have deep knowledge of regulations, standards in Vietnam as well as the way Vietnamese enterprises doing business in Vietnam, but also they catch up with international standards.

Leader of Hoang Huy Group, an enterprise has business with America groups with high demand of financial statements’ quality, said that, they have satisfied with the quality of their financial statements in 2014, 2015, 2016 which were audited by AASC.

From January 2011, AASC joined HLB International - A world-wide network of independent accounting firms and business advisers in over 130 countries with more than 1.900 partners, 14.000 staffs and 500 offices, AASC could offer their clients the international service standards that match with AASC’s global strategy.

AASC currently has its presence in Laos, Cambodia, Thailand, and Indonesia such as audit of the highway project in Thailand funded by WB's capital; participate in the audit report of the ASEAN secretariat, audit of the offshore investment projects of Vietnam Rubber Group, Vietnam National Chemical Group, Party Central Office, etc.

But, he had aware that AASC’s development has been through a lot of obstacles. Vietnam market are competing fiercely, including some tricks such as lower price, "having relationship" with the intermediate, getting customers from other firms, etc.

Even Ministry of Finance issued requirements on price frame for audit of project settlement report but there are proposals offer lower price compare to the hurdle requirements. Big companies accept losses in order to gain customers in other fields; other small and medium companies have to lower the price to gain the market share.

The competition has gone too far along with consequences. Mr. Doan recommended with Big 4 companies, cooperated and helped small and medium companies in order to strengthen the Vietnam audit sector.

3. Business is the life of every entrepreneur. Mr. Doan has experienced a lot of challenges by participating in the assessment of many major economic cases, which the boundary between the compliance with the law and actual situation is extremely fragile. He had involved in legal affairs in 1988, persistent struggled, defended the right, held the prestige of the company and he was appointed by the Ministry of finance to higher position in the following year. It’s clearly to see that, the field of auditing, evaluation may contain potential risk as other jobs.

This year, AASC has entered the age of 25 and the old captain said that in the next 10 years, AASC’s objectives are maintaining the pure Vietnamese auditing firm brand name, where domestic and foreign customers, management agencies, public investment do believe in.

The most desire of an experienced auditor, sticking with the market from its early days, is the Vietnamese auditing company will firmly stand and grow in integration as well as establish long-lasting brand name. But he wonders whether Vietnamese auditing companies have enough resources and faith to build such long-lasting brand name. The old captain has been prepared and trained for the next generation. The 10th meetings of the Board of Members in November will deal with this issue and development of AASC in the future.

Source: Anh Viet - http://tinnhanhchungkhoan.vn/

Wednesday, 28 September 2016 19:35

Precious home

“I drank, probably not much, but enough for me to wildly deep into emotions of family where I started”

Precious Home - one of the annual events held by the leaders, the Trade Union and the Youth Union of Audit Department No. 7.

The program took place on 25, 26 June 2016, at Khoang Xanh – a famous tourist area near the center of Hanoi. A number of activities were organized such as water polo; crossing the river... to reflect strong teamwork spirit. Also, members of Audit Department No.7 experienced best moments together under the program which is combined by sound, lighting and art.

2016 09 mainhachung 01

Speaking at the event, Mr. Nguyen Ngoc Lan – Senior Manager of Audit Department No.7 said he was pleased that members of the Department spent two days together and showed his proud for the results that the Audit Department No.7 have achieved during the year. He also hoped that this special occasion would bring enthusiasm to each member of Audit Department No.7 to move forward, together.

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The event was undertaken with exciting repertoires, especially was the theatrical performance by the new comers of the Department.

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“Khoang Xanh, a sleepless night with fine temperature, some people were gathering around the fire and some at the stilt house. Tonight, we - members of Audit Department No.7 all lied down together, and it seems flush away my worries and nervous in the past few days.

I drank, probably not much, but enough for me to wildly deep into emotions of family where I started”.

2016 09 mainhachung 04

Khoang Xanh, 23h44’ pm, 25 June 2016

These are the feelings of the new comer of Audit Department No.7.

Friday, 23 September 2016 10:29

Mid-Autumn Festival 2016

 

Jubilantly joint the traditional event throughout the country, on 11/09/2016, AASC has organized the "Mid-Autumn Festival 2016" for the whole Company’s employees, and their children.

Attending this year Festival got the attendance of AASC’s members Board of Directors, Heads of units/divisions with their relatives. On behalf of the Management Board, Board of General Director, Mrs. Cat Thi Ha – Chairman of AASC’s Trade Union cum Deputy General Director wish all the children have an all-in night with their family members and he also hope they are always hard-working to become useful citizens of the country, and high-quality human resources for the company.

The ceremony marked with the childish songs with colorful lyrics, along with the humor and charm of 02 MC -Moon Lady (Ms. Hang) and her friend Uncle Liar (Mr. Cuoi) that stirs the atmosphere and evokes the excitement from children as well as other audiences. With different repertoires, traditional and spiritual lion dance and group activities have drawn much of attentions of the audiences.

The meaningful Mid-Autumn Festival of AASC 2016 event has ended with traditional activity and through this special occasion, AASC brought a useful playground to children and help them to understand about the spirit of the nation's mid-autumn festival. Also, AASC wants to send its best wishes to all the children and parents and hope to see more in the next festival.

Images of the Event

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From 27 to 31 July 2016, AASC Auditing Firm Company Limited organized the 2016 HLB International Asia Pacific Regional Conference at JW Marriott Hotel Hanoi. Themed “Cross-border Investment – Challenges and prospects”, the Conference was graced by more than 20 members from 19 countries in the region. Dr. Vo Tri Thanh, Senior expert, Former Deputy Director of Central Institute for Economic Management attended and delivered speech at the Conference with 2 topics “Regional Economic Overview” and “Doing business in Vietnam and its connection to Asia Pacific”.

At the Conference, Deputy General Director Mr. Do Manh Cuong highlighted: "HLB International Conference 2016 is a special occasion for member countries to learn from one another’s experiences, do the networking and work towards the common goal of developing HLB network”. Besides, Chief Executive Officer of HLB International Robert Gerard Tautges has commented on the investment prospects in Vietnam and said: "In the eyes of foreign investors, Vietnam is a country with full of potential ". Furthermore, Mr. Rob has appreciated AASC for its role in the development of HLB International and for the contributions to the development of Vietnam’s Independent Audit as well as diversified services currently provided to FDI enterprises in the process of expansion and development of business activities in Vietnam.

2016 HLB International Asia Pacific Regional Conference ended with success, leaving HLB members with a deep impression of Vietnam in general and of AASC in particular. At the same time this was also an opportunity for HLB members to stand more closely, contributing to the development of economic and trading activities in the region and globally.

Some photos of the conference:

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From 27 July to 31 July 2016, AASC Auditing Firm Company Limited organized the 2016 HLB International Asia Pacific Regional Conference at JW Marriott Hotel Hanoi. The Conference “Cross-border Investment – Challenges and prospects” was graced by more than 20 members from 19 countries in the region. Honored guest Dr. Vo Tri Thanh, Senior expert, Former Deputy Director of Central Institute for Economic Management attended and delivered speech at the Conference with 2 topics “Regional Economic Overview” and “Doing business in Vietnam and its connection to Asia Pacific”.

At the Conference, Deputy General Director Mr. Do Manh Cuong highlighted: "HLB International Conference 2016 is a special occasion for member countries to learn from one another’s experiences, expand the networking and work towards the common goal of HLB network development”. Besides, Chief Executive Officer of HLB International Mr. Robert Gerard Tautges has commented on the investment prospects in Vietnam and said that Vietnam is an important country and the prospects of international investment into Vietnam were endless  Furthermore, Mr. Rob has appreciated AASC for its role in the development of HLB International and for the contributions to the growth of Vietnam’s Independent Audit as well as diversified services currently provided to FDI enterprises in the process of expansion and development of business activities in Vietnam.

The 2016 HLB International Asia Pacific Regional Conference ended with success, leaving HLB members with a deep impression of Vietnam in general and of AASC in particular. HLB regional conferences are a great opportunity for HLB professionals to network together and get to know each other personally, contributing to the development of economic, thus allowing for the smooth running of clients’ business across borders.

Photos of the conference:

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BBT

International auditing and consulting companies are seeking ways to increase co-operation, in order to best serve their clients investing in foreign countries.

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Last week, 60 representatives from companies based in more than 18 countries gathered at the three-day HLB International Asia Pacific Regional Conference to share experiences and knowledge. HLB International is a global network of independent professional accounting firms and business advisers present in 130 countries worldwide. The conference, titled “Cross-border Investment – Challenges and Prospects”, is hosted by auditing firm AASC, a member of HLB International.

According to Do Manh Cuong, deputy general director of AASC, cross-border investment is booming and legally facilitated by a number of common economic zones, free trade areas and bilateral or multilateral agreements.

“Particularly, within our Asia Pacific region, since 1989, we had the Asia-Pacific Economic Cooperation comprised of 21 economies with the objective of ‘creating and advancing free trade for Asian-Pacific prosperity’, by ‘promoting balanced, inclusive, sustainable, innovative, and secure growth by accelerating regional economic integration’. Most recently, in 2015, the establishment of the ASEAN Economic Community (AEC) is also regarded as another ‘milestone in regional economic integration’,” Cuong said in his opening speech.

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The lower tariffs in the free trade agreements (FTAs) that Vietnam has been joining will spur foreign trade and direct investment in the country, and more Vietnamese firms will expand to regional markets, creating tremendous growth potential for auditing firms.

It also means international accounting, auditing, and consulting firms should be working closely in order to provide no-border service for clients.

The conference, Cuong said, was a special occasion for members of HLB International to “engage in an open and constructive discussion, as well as create more effective and tighter connections”.

Robert Gerard Tautges, chief executive officer of HLB International, said that the prospects of international investment into Vietnam were endless. “Vietnam is a very important country. It has an educated workforce and natural resources and many countries are looking to invest into Vietnam,” he said, adding that the conference aimed to bring member companies together so that they could take advantage of cross-border investment.

Tautges stressed the importance of having AASC in HLB International’s network. “AASC will help others that want to invest into Vietnam or their clients who look to invest outside of Vietnam,” he said.

Recently, Vietnam has seen a surge in foreign direct investment (FDI). According to the Foreign Investment Agency, in the first seven months Vietnam attracted $12.94 billion in FDI, up 46.9 per cent year-on-year. The disbursed capital reached $8.55 billion, up 15.5 per cent year-on-year. The AEC, as well as the FTAs that Vietnam signed, have been a strong motivation for capital flows into the country.

Established in Vietnam by the Ministry of Finance in 1991, AASC is widely regarded as one of the first two auditing companies to lay the foundation for the development of Vietnam’s Law on Independent Audit.

As of now the company has ventured outside of Vietnam to provide auditing and consulting services to clients in Thailand, Laos, Cambodia, and Indonesia, and has been involved in multiple projects of the World Bank and Asian Development Bank.

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Source: VIR (Vietnam Investment Review)

09 ZAVX

Hội nghị HLB Quốc tế khu vực châu Á – Thái Bình Dương ngày đầu tiên 28/7

(ĐTCK) Trong con mắt của nhiều nhà đầu tư nước ngoài, Việt Nam là một quốc gia tiềm năng và quan trọng.

Đó là chia sẻ của ông Robert Gerard Tautges, Tổng giám đốc HLB International tại Hội nghị với chủ đề “Đầu tư xuyên quốc gia: Thách thức và triển vọng” diễn ra từ ngày 28 - 30/7.

Hội nghị đã thu hút đại diện của hơn 20 hãng thành viên thuộc tổ chức HLB quốc tế đến từ 19 quốc gia khu vực châu Á - Thái Bình Dương. Tại Hội nghị, các đại biểu đã chia sẻ quan điểm rằng, Việt Nam tiếp tục hấp dẫn các nhà đầu tư nước ngoài, nhưng sẽ phải cạnh tranh khốc liệt hơn trong khu vực.

Thảo luận về tình hình kinh tế thế giới 5 năm qua, thông tin nổi bật mà các đại biểu chia sẻ là tăng trưởng kinh tế thế giới hồi phục khó khăn hơn dự kiến.

Cụ thể, số liệu của Tổ chức Tài chính quốc tế (IMF) cho thấy, năm 2010, tăng tưởng kinh tế thế giới đạt 5,2%; từ 2011-2015 lần lượt là 3,9%; 3,2%; 3,4% và 3,1%. Triển vọng kinh tế năm 2016-2017 là yếu và không ổn định, điều này thể hiện qua việc các tổ chức quốc tế liên tục thay đổi dự báo và đưa các các con số bất định.

Những thách thức nổi lên chủ yếu do suy giảm ở các nền kinh tế mới nổi như Trung Quốc, Ấn Độ, tăng trưởng kinh tế thế giới hiện đang dưới tiềm năng. Những hệ quả của việc các nước thúc đẩy kinh tế chủ yếu do chính sách đổ tiền, can thiệp thẳng vào thị trường mà không chú trọng đến cải thiện hạ tầng, hoạt động và năng lực của các tổ chức tài chính.

TS. Võ Trí Thành, Viện phó Viện Nghiên cứu Quản lý kinh tế Trung ương cho biết, triển vọng của kinh tế thế giới đang phải đối mặt với nhiều rủi ro cao, khiến các nhà đầu tư và người tiêu dùng đều thận trọng. Những cú sốc về giá dầu và các loại hàng hóa khác chưa có dấu hiệu qua đi. Đặc biệt cần lưu ý là Mỹ, châu Âu và Trung Quốc đang tiến hành thắt chặt tiền tệ. Điều này sẽ ảnh hưởng tới chính sách tiền tệ của các nước, đồng thời quan ngại về tác động của Brexit tới kinh tế toàn cầu.

Xu hướng đầu tư trên thế giới cũng sẽ chịu ảnh hưởng của các yếu tố như sự cân bằng giữa các ngành kinh tế tạo ra sản phẩm thực và ngành phi vật chất, sự hội nhập của các nền kinh tế, đòi hỏi về sáng tạo và đặc biệt là phát triển bền vững.

Các nhà đầu tư và doanh nghiệp cũng cần lưu ý đến tác động, ảnh hưởng lên GDP của Asean ++ FTA - RCEP (xem bảng), ảnh hưởng của TPP, EVFTA và RCEP (xem bảng)

09 rnjt

Nhận định về triển vọng đầu tư giữa các nước trong khu vực và Việt Nam, ông Robert Gerard Tautges, Tổng giám đốc HLB International cho rằng, không có giới hạn. Trong con mắt của nhiều nhà đầu tư nước ngoài, Việt Nam là một quốc gia tiềm năng và quan trọng. Việt Nam sở hữu nguồn tài nguyên thiên nhiên dồi dào, phong phú và rất nhiều tiềm năng khác mà các quốc gia đang tìm kiếm.

Ông Terry Blenkipsop, đại diện cho nhà đầu tư đến từ Australia chia sẻ rằng, ông đến với Hội nghị và Việt Nam lần này nhằm tìm hiểu những ưu đãi mà Việt Nam dành cho các khách hàng, là những nhà đầu tư nước ngoài mà họ đang cung cấp dịch vụ.

“Chúng tôi thường xuyên được nghe các thông tin về thị trường Việt Nam. Những điều này rất thu hút đối với khách hàng của chúng tôi trong việc tìm kiếm những cơ hội phát triển kinh doanh. Những tiềm năng mà chúng tôi nhìn thấy ở Việt Nam, đó là một trong những quốc gia phát triển nhanh nhất của khu vực”, ông Terry nhận xét.

Giải đáp lý do các nhà đầu tư quan tâm đến Việt Nam thời điểm này, ông Võ Trí Thành cho biết, đó là tư duy cải cách đang khá mạnh mẽ, với kỳ vọng ở các nhà lãnh đạo mới, hệ thống giáo dục được quan tâm chú trọng hơn, môi trường đầu tư kinh doanh dần được cải thiện mạnh mẽ. Song thách thức cạnh tranh với Việt Nam còn rất lớn, vì nhìn vào ASEAN +3 gồm Thailand, Malaysia và Singapore, vẫn có thể thấy những vấn đề mà Việt Nam phải cải thiện, nhằm giảm thiểu chi phí khi nhà đầu tư xin giấy phép hay một số cải cách còn khá chậm chạp khác.”

Bà Winnie Wong, đến từ Canada cũng nhắc đến những vấn đề còn gây bất lợi của Việt Nam như cơ sở hạ tầng chưa đồng bộ, thiếu hụt nguồn nhân lực chất lượng cao như tại vị trí như tổng giám đốc hay quản lý cấp trung…

HLB Quốc tế là mạng lưới quốc tế các hãng kiểm toán và tư vấn quản trị chuyên nghiệp, với khoảng 21.000 nhân viên thuộc 600 văn phòng tại hơn 130 quốc gia trên thế giới. Hội nghị HLB Quốc tế khu vực châu Á – Thái Bình Dương là hội nghị thường niên do mạng lưới HLB quốc tế chủ trì. Năm 2016, Hãng kiểm toán AASC đăng cai tổ chức sự kiện.

Theo đánh giá của ông Robert Gerard Tautges, Tổng giám đốc HLB International, AASC là một hãng thành viên lý tưởng mà HLB tìm kiếm, với vị thế là một hãng kiểm toán uy tín, có trách nhiệm để hỗ trợ khách hàng thiết lập việc kinh doanh tại Việt Nam, giúp giải đáp nhiều vấn đề về thuế, thủ tục hành chính…

Nguồn: tinnhanhchungkhoan

 

09 ZAVX

Hội nghị HLB Quốc tế khu vực châu Á – Thái Bình Dương ngày đầu tiên 28/7

(ĐTCK) Trong con mắt của nhiều nhà đầu tư nước ngoài, Việt Nam là một quốc gia tiềm năng và quan trọng.

Đó là chia sẻ của ông Robert Gerard Tautges, Tổng giám đốc HLB International tại Hội nghị với chủ đề “Đầu tư xuyên quốc gia: Thách thức và triển vọng” diễn ra từ ngày 28 - 30/7.

Hội nghị đã thu hút đại diện của hơn 20 hãng thành viên thuộc tổ chức HLB quốc tế đến từ 19 quốc gia khu vực châu Á - Thái Bình Dương. Tại Hội nghị, các đại biểu đã chia sẻ quan điểm rằng, Việt Nam tiếp tục hấp dẫn các nhà đầu tư nước ngoài, nhưng sẽ phải cạnh tranh khốc liệt hơn trong khu vực.

Thảo luận về tình hình kinh tế thế giới 5 năm qua, thông tin nổi bật mà các đại biểu chia sẻ là tăng trưởng kinh tế thế giới hồi phục khó khăn hơn dự kiến.

Cụ thể, số liệu của Tổ chức Tài chính quốc tế (IMF) cho thấy, năm 2010, tăng tưởng kinh tế thế giới đạt 5,2%; từ 2011-2015 lần lượt là 3,9%; 3,2%; 3,4% và 3,1%. Triển vọng kinh tế năm 2016-2017 là yếu và không ổn định, điều này thể hiện qua việc các tổ chức quốc tế liên tục thay đổi dự báo và đưa các các con số bất định.

Những thách thức nổi lên chủ yếu do suy giảm ở các nền kinh tế mới nổi như Trung Quốc, Ấn Độ, tăng trưởng kinh tế thế giới hiện đang dưới tiềm năng. Những hệ quả của việc các nước thúc đẩy kinh tế chủ yếu do chính sách đổ tiền, can thiệp thẳng vào thị trường mà không chú trọng đến cải thiện hạ tầng, hoạt động và năng lực của các tổ chức tài chính.

TS. Võ Trí Thành, Viện phó Viện Nghiên cứu Quản lý kinh tế Trung ương cho biết, triển vọng của kinh tế thế giới đang phải đối mặt với nhiều rủi ro cao, khiến các nhà đầu tư và người tiêu dùng đều thận trọng. Những cú sốc về giá dầu và các loại hàng hóa khác chưa có dấu hiệu qua đi. Đặc biệt cần lưu ý là Mỹ, châu Âu và Trung Quốc đang tiến hành thắt chặt tiền tệ. Điều này sẽ ảnh hưởng tới chính sách tiền tệ của các nước, đồng thời quan ngại về tác động của Brexit tới kinh tế toàn cầu.

Xu hướng đầu tư trên thế giới cũng sẽ chịu ảnh hưởng của các yếu tố như sự cân bằng giữa các ngành kinh tế tạo ra sản phẩm thực và ngành phi vật chất, sự hội nhập của các nền kinh tế, đòi hỏi về sáng tạo và đặc biệt là phát triển bền vững.

Các nhà đầu tư và doanh nghiệp cũng cần lưu ý đến tác động, ảnh hưởng lên GDP của Asean ++ FTA - RCEP (xem bảng), ảnh hưởng của TPP, EVFTA và RCEP (xem bảng)

09 rnjt

Nhn đnh v trin vng đu tư gia các nước trong khu vc và Vit Nam, ông Robert Gerard Tautges, Tng giám đc HLB International cho rng, không có gii hn. Trong con mt ca nhiu nhà đu tư nước ngoài, Vit Nam là mt quc gia tim năng và quan trng. Vit Nam s hu ngun tài nguyên thiên nhiên di dào, phong phú và rt nhiu tim năng khác mà các quc gia đang tìm kiếm.

Ông Terry Blenkipsop, đi din cho nhà đu tư đến t Australia chia s rng, ông đến vi Hi ngh và Vit Nam ln này nhm tìm hiu nhng ưu đãi mà Vit Nam dành cho các khách hàng, là nhng nhà đu tư nước ngoài mà h đang cung cp dch v.

Chúng tôi thường xuyên được nghe các thông tin v th trường Vit Nam. Nhng điu này rt thu hút đi vi khách hàng ca chúng tôi trong vic tìm kiếm nhng cơ hi phát trin kinh doanh. Nhng tim năng mà chúng tôi nhìn thy Vit Nam, đó là mt trong nhng quc gia phát trin nhanh nht ca khu vc”, ông Terry nhn xét.

Gii đáp lý do các nhà đu tư quan tâm đến Vit Nam thi đim này, ông Võ Trí Thành cho biết, đó là tư duy ci cách đang khá mnh m, vi kỳ vng các nhà lãnh đo mi, h thng giáo dc được quan tâm chú trng hơn, môi trường đu tư kinh doanh dn được ci thin mnh m. Song thách thc cnh tranh vi Vit Nam còn rt ln, vì nhìn vào ASEAN +3 gm Thailand, Malaysia và Singapore, vn có th thy nhng vn đ mà Vit Nam phi ci thin, nhm gim thiu chi phí khi nhà đu tư xin giy phép hay mt s ci cách còn khá chm chp khác.

Bà Winnie Wong, đến từ Canada cũng nhắc đến những vấn đề còn gây bất lợi của Việt Nam như cơ sở hạ tầng chưa đồng bộ, thiếu hụt nguồn nhân lực chất lượng cao như tại vị trí như tổng giám đốc hay quản lý cấp trung…

HLB Quốc tế là mạng lưới quốc tế các hãng kiểm toán và tư vấn quản trị chuyên nghiệp, với khoảng 21.000 nhân viên thuộc 600 văn phòng tại hơn 130 quốc gia trên thế giới. Hội nghị HLB Quốc tế khu vực châu Á – Thái Bình Dương là hội nghị thường niên do mạng lưới HLB quốc tế chủ trì. Năm 2016, Hãng kiểm toán AASC đăng cai tổ chức sự kiện.

Theo đánh giá của ông Robert Gerard Tautges, Tổng giám đốc HLB International, AASC là một hãng thành viên lý tưởng mà HLB tìm kiếm, với vị thế là một hãng kiểm toán uy tín, có trách nhiệm để hỗ trợ khách hàng thiết lập việc kinh doanh tại Việt Nam, giúp giải đáp nhiều vấn đề về thuế, thủ tục hành chính…

Nguồn: tinnhanhchungkhoan

 

On July 19, at the Ministry of Finance in response to the campaign “Voluntary Blood Donor Day” with the theme “Connecting hearts, connecting happiness” by Youth Union of Ministry of Finance in collaboration with Trade Union of Ministry of Finance, National Institute of Hematology and Blood Transfusion, AASC Youth Union volunteered with the highest spirit. Derived from the heart and the responsibility to the community, every drop of blood donated contributed significantly to medical care and survival of patients (helped save many lives every year).

With the slogan of the Voluntary Blood Donor Day 2016: “New blood – for you and for me”, every member of AASC participated in the campaign has highlighted the traditional solidarity “The good leaves protect the worn-out leaves” of ASSC staff in particular and Vietnamese people in general. Moreover, many AASC members has donated for many times, showing the great spirit of humanity, solidarity, spreading the image and responsibility of AASC not only in Auditing, Accounting and Consulting field, but also raising the awareness of the community. 

Photos of Voluntary Blood Donor Day:

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BBT

Thursday, 21 July 2016 14:03

Ranking of Audit Firms 2015

Ratings of audit firms according to the Statistics of the Ministry of Finance and VACPA

On 24/6/2016, in coordination with the Vietnam Association of Certified Public Accountants (VACPA), the Ministry of Finance held an annual meeting of Directors of Audit firms, summarizing the operations and publishing the rankings of audit firms in 2015. According to the statistics of the Ministry of Finance and VACPA, AASC is ranked as follows:

- Ranked No.5 (after Big4) by total revenue

- Ranked No.1 by the number of audit practitioners and ranked No.5 by the number of employees

- Ranked No.1 by revenue from valuation service

- Ranked No.1 by revenue from project settlement report

- Ranked No.2 by revenue from State owned enterprises

- Ranked No.4 by revenue from public companies

- Ranked No.5 (after Big4) by revenue from audit of Financial Statements

- Ranked No.5 (after Big4) by revenue from listed companies

- Ranked No.5 (after Big4) by number of clients

 Below is the detailed data shown in the graphs TOP10 Audit firms

revenue

 

registered auditors

 

 

 

 

valuation

 

project settlement

 

 

state owned enterprise

 

public companies

FS

 

listed company

clients

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To continue supporting FDI companies to master new tax accounting policies applied since 2016, AASC Limited in cooperation with the CPA Australia Hanoi Office is organizing the Free Conference on "Tax and Accounting in Application for 2016" for foreign invested companies in Hai Phong City.

The Conference will be provided by Mrs. Nguyen Thi Cuc – President of the Vietnam Tax Consultants’ Association (VTCA)– Former Vice Director of the General Department of Taxation and Mr. Do Manh Cuong – Member of the Standing Committee of the VTCA – Partner of AASC Ltd who have mass experience in law making, training and interacting with FDI companies. Therefore, the requirements of newly issued regulations on tax and accounting from 2016 will be delivered by the comprehensive manner through illustrative examples, especially the Q&A session, toward the useful benefits for accountants in FDI entities.

Registration

Time:                     From 13:00 to 17:30 PM on 15 July 2016

Location:              LEVEL Hotel Hai Phong 71 Lach Tray Street, Ngo Quyen District, Hai Phong City

Language:            Vietnamese

Registration deadline is 14 July 2016 via https://goo.gl/TqRbjM

(Note: Time and duration of the Conference may be changed toward the actual demand of the participants)

Conference Program and Speaker Bio can be found here

All detailed information, please contact the representative of the Organizing Committee:

Mrs. Nguyen Hoang Lan - Business Development Manager of FDI segment – AASC Ltd.

0912 000 472 | This email address is being protected from spambots. You need JavaScript enabled to view it.

After 25 years of building and development, Vietnam’s Independent Auditing has contributed significantly to the development of the country, emphasizing the key role in the market economy, ensuring the transparency of financial information, creating a healthy investment climate.

 Recognizing the contribution and outstanding achievements of AASC in developing the Vietnam’s Independent Auditing in 2011 to 2016, the Prime Minister awarded the Certificate of Merit to the Company for its efforts and AASC’s Chairman of the Board of Member, General Director Mr.Ngo Duc Doan.

At the conference, the Minister of Finance also awarded 03 certificates of Merit to individuals, whose outstanding achievements has contributed to the development of the Vietnam’s Independent Auditing in 2011 - 2016: Deputy General Director Pham Thi Thanh Giang, Head of Quality Control and Training Department Do Ngoc Dung and Auditor Tran Thu Loan.

Being aware of the great responsibility for the development of the Vietnam’s Independent Auditing, AASC Board of Directors and all its employees commit to act continuously as a leading role in Vietnam’s Independent Auditing field, strongly integrated with the International, keeping pace with other countries in the region and the world.

Photos of the Conference:

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Deputy General Director Cat Thi Ha AASC received Certification of Merit from the Prime Minister on behalf of AASC

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Deputy General Director Do Manh Cuong received Certification of Merit on behalf of General Director Ngo Duc Doan.

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Deputy General Director Pham Thi Thanh Giang, Head of Quality Control and Training Department Do Ngoc Dung and Auditor Tran Thu Loan received Certificates of Merit from the Minister of Finance

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Musical performance performed by the Youth Union of AASC

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Friday, 03 June 2016 13:38

Hello Summer 2016 - Vinpearl Halong

Following the sequence of events celebrating the 25th anniversary of the establishment of AASC Auditing Firm, and welcome the International Children's Day (1st June) for 3 days from 29 May to 31 May 2016, all officers, staffs of AASC had gathered together at Vinpearl Halong participating in “Hello Summer 2016” program with the theme “AASC - 25 years of aspiration and proud”. The event took place with many attractive group activities, in order to enhance the adherence between divisions/ units of AASC.

On behalf of the Board of directors, at Gala Dinner, Deputy General Director Nguyen Quoc Dung highly appreciated the efforts of the Board of Directors, auditors, technicians and staffs of AASC in the past few years and sent his best regards to their family members, who are always stand behind and help them to accomplish the tasks. Besides, on the occasion of International Children’s Day, Mr. Dung also wishes the children healthy, obedient and enjoys the happiness moment with family and friends at Vinpearl Halong 2016.

Team building activities took place on the morning of 30 May 2016 in the vibrant atmosphere, reflecting the spirit, culture of AASC on white sand shore. It seems like the sunshine, charming wind of Halong has supported AASC’s outdoor activities more exciting. With exciting games such as pushing the trolley car, walked and hit the ball with duels on muscle strength from four teams has brought the excitement and laughter crisp for everyone. Finally, with highest score the winning prize belongs to “1102” team. Through the meaningful games at this special occasion, AASC’s staffs and officers are closer to each other.

In the afternoon of 30 May 2016, the football matches were held with the appearance of four teams coming from the Departments/Units/Branches of AASC. The winner is Audit Department No. 5 Fc.

“HELLO SUMMER 2016” has remained in each AASC member with happiness, deep memories, and add strength to all member of AASC to overcome difficulty, prepare for the new journey. This special event also creates value for AASC, strengthen the working environment of openness, sincerity, and promote each individual willing to contribute to our precious AASC.

Images at Halong

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Deputy General Director Nguyen Quoc Dung at the Gala dinner

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The champion - 1102 team

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Hello summer - Vinpearl Ha Long

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06 YMSV

Một trong hai công ty kiểm toán đầu tiên trên thị trường, Hãng Kiểm toán AASC, kỷ niệm 25 năm thành lập

Ra đời trong bối cảnh đất nước đổi mới, thị trường kiểm toán độc lập Việt Nam đã phát triển song hành cùng sự phát triển của nền kinh tế, của TTCK và trở thành điểm tựa niềm tin của thị trường.

1. Năm 1991, thị trường dịch vụ kiểm toán được hình thành, với việc thành lập hai công ty kiểm toán đầu tiên trực thuộc Bộ Tài chính là VACO (Deloitte ngày nay) và AASC trước đòi hỏi của công cuộc đổi mới, thu hút dòng vốn đầu tư nước ngoài.  

Qua những bỡ ngỡ ban đầu, thị trường đã hình thành với sự góp mặt của nhiều doanh nghiệp kiểm toán hàng đầu thế giới (Deloitte, KPMG, E&Y, PwC) và bùng nổ từ giai đoạn chuyển đổi doanh nghiệp Nhà nước sang công ty cổ phần và thăng hoa của TTCK.

Ở tuổi thứ 25, theo thống kê của Hội Kiểm toán viên hành nghề Việt Nam, thị trường kiểm toán độc lập hiện có 140 công ty đang hoạt động, trong đó có 6 công ty có vốn đầu tư nước ngoài. Số doanh nghiệp kiểm toán thu hẹp so với giai đoạn bùng nổ thành lập công ty kiểm toán những năm 2007 – 2008, nhưng đó là kết quả của sự thanh lọc để thị trường kiểm toán độc lập phát triển quy củ, nền nếp hơn.

Những công ty kiểm toán quy mô quá nhỏ, hoạt động yếu kém không đáp ứng được yêu cầu ngày càng chặt chẽ về điều kiện cung cấp dịch vụ buộc phải giải thể, một số công ty chọn cách sáp nhập vào một công ty kiểm toán khác để tăng quy mô kiểm toán viên, khách hàng để đáp ứng đủ điều kiện cung cấp dịch vụ kiểm toán cho các công ty đại chúng, niêm yết… 

Bên cạnh mảng dịch vụ chính là kiểm toán và soát xét báo cáo tài chính, các dịch vụ kiểm toán và tư vấn khác như kiểm toán quyết toán vốn đầu tư, dịch vụ kế toán, dịch vụ tư vấn thuế, dịch vụ thẩm định giá, dịch vụ tư vấn tài chính… được khối công ty kiểm toán độc lập cung cấp đang đáp ứng nhu cầu ngày càng đa đạng trong nền kinh tế.

Số liệu cập nhật nhất của tổ chức nghề nghiệp kiểm toán cũng cho biết, năm 2014, tổng doanh thu toàn thị trường đạt 4.583 tỷ đồng; trong đó, mảng dịch vụ chính yếu của khối công ty kiểm toán là dịch vụ kiểm toán và soát xét báo cáo tài chính là 2.329,76 tỷ đồng, chiếm khoảng 50% cơ cấu doanh thu toàn ngành.

Với lĩnh vực kiểm toán báo cáo tài chính, kể từ khi Luật Kiểm toán độc lập ra đời, đối tượng bắt buộc phải kiểm toán báo cáo tài chính năm được mở rộng hơn, bao gồm công ty đại chúng, tổ chức phát hành, CTCK, công ty bảo hiểm, ngân hàng, doanh nghiệp FDI, doanh nghiệp nhà nước và doanh nghiệp có trên 20% vốn góp của Nhà nước… không chỉ mở ra cơ hội phát triển cho ngành kiểm toán độc lập, mà đáp ứng yêu cầu mới của nền kinh tế.

Là lĩnh vực hoạt động chuyên môn sâu, đòi hỏi những quy tắc, chuẩn mực nghề nghiệp hết sức chặt chẽ, đến nay, như chia sẻ của PGS. TS. Đặng Thái Hùng, Vụ trưởng Vụ Chế độ kế toán và kiểm toán, Bộ Tài chính, hành lang pháp lý cho hoạt động kiểm toán của Việt Nam đến nay đã tuân thủ các thông lệ, chuẩn mực của quốc tế, gồm Luật Kiểm toán độc lập, nghị định hướng dẫn, hệ thống chuẩn mực kiểm toán và chuẩn mực đạo đức nghề nghiệp.

2. Thị trường kiểm toán Việt Nam đã có bước tiến lớn, nhưng trên con đường song hành cùng sự minh bạch của nền kinh tế, đòi hỏi phải nâng chất hoạt động của khối doanh nghiệp này.

Chất lượng dịch vụ kiểm toán không chỉ ảnh hưởng bởi những kiến thức, kinh nghiệm của người làm kiểm toán, mà còn ảnh hưởng rất lớn của đạo đức kiểm toán viên. Hành lang pháp lý cho hành nghề kiểm toán dù đã hoàn thiện, nhưng để kiểm toán viên đi đúng hành lang đó, khâu quản lý, giám sát chất lượng hàng nghề kiểm toán có vai trò rất quan trọng.

Nếu như trước kia, việc kiểm soát chất lượng kiểm toán được Bộ Tài chính ủy quyền cho Hội Kiểm toán viên hành nghề Việt Nam thực hiện, phía Ủy ban Chứng khoán thực hiện theo cơ chế phối hợp khi cần kiểm tra chất lượng cuộc kiểm toán theo yêu cầu quản lý, thì từ năm 2014, với Quy chế chấp thuận kiểm toán công ty trên TTCK theo Thông tư 183/2013/TT - BTC, việc kiểm soát chất lượng các công ty kiểm toán tổ chức trong lĩnh vực chứng khoán thuộc thẩm quyền của Ủy ban Chứng khoán Nhà nước.

Hàng năm, Bộ Tài chính đều tổ chức các đoàn kiểm tra chất lượng dịch vụ, nhưng việc kiểm tra chỉ thực hiện trên một số công ty và chủ yếu là thực hiện với các công ty có quy mô nhỏ trên thị trường. “Ngay cả việc tổ chức định kỳ ba năm một lần với một doanh nghiệp kiểm toán theo quy định hiện nay cũng là rất khó”, ông Đặng Thái Hùng chia sẻ. Lý do là bộ máy nhân sự của Bộ còn rất mỏng, không thể căng ra quản lý, giám sát khi khối lượng công việc soạn thảo chính sách, chế độ cho lĩnh vực kế toán, kiểm toán quá lớn.

Còn về phía Ủy ban Chứng khoán Nhà nước, được biết, kể từ thời điểm được chuyển giao chức năng kiểm soát chất lượng dịch vụ của khối công ty kiểm toán tổ chức niêm yết, công ty đại chúng, trong năm 2014, cơ quan này đã kiểm tra 5 công ty, năm 2015 kiểm tra 6 công ty và dự kiến trong năm nay sẽ kiểm tra 17 công ty.

Tại các quốc gia phát triển, sau những bê bối tài chính của doanh nghiệp, công ty kiểm toán cũng sẽ bị liên đới điều tra và trong nhiều trường hợp bị xử phạt rất nặng, thậm chí lâm vào vòng lao lý như trong trường hợp Tập đoàn Enron (Mỹ).

Việc nhiều doanh nghiệp bất ngờ thua lỗ, dù chỉ kỳ kế toán trước vẫn báo lãi cao và được kiểm toán chấp nhận là báo cáo “trung thực và hợp lý” như trước kia là Vinashin, DVD hay gần đây là CTCP Y tế Việt Nhật, Tập đoàn Đại Dương và một số ngân hàng 0 đồng… không chỉ khiến thị trường hoang mang về độ tin cậy của các báo cáo kiểm toán, mà còn đặt câu hỏi: Có hay không việc liên đới trách nhiệm của kiểm toán viên?

Vì vậy, việc kiểm soát chất lượng dịch vụ kiểm toán, đặc biệt là kiểm tra các hồ sơ kiểm toán công ty có những chiêu làm đẹp báo cáo tài chính là đòi hỏi từ phía thị trường với cơ quan quản lý.

Nguồn: http://tinnhanhchungkhoan.vn/

Following the success of the Free Conference on “Guidelines for accounting policies for enterprises under Circular No. 200/2014/TT-BTC” on July 2015, AASC Limited in cooperation with the CPA Australia Hanoi Office is organizing another Free Conference on “Notes on tax finalization for 2015, Practical application of Circular 200/2014/TT-BTC and Tax Update from 2016” targeted the FDI entities in Hanoi and surrounding provinces.

The Conference will be provided by Mrs. Nguyen Thi Cuc – President of the Vietnam Tax Consultants’ Association (VTCA)– Former Vice Director of the General Department of Taxation and Mr. Do Manh Cuong – Member of the Standing Committee of the VTCA – Partner of AASC Ltd who have mass experience in law making, training and interacting with FDI companies. Therefore, the requirements on tax finalization in 2015, practical application of Circular 200 and newly issued regulations on tax from 2016 will be delivered by the comprehensive manner through illustrative examples, especially the Q&A session, toward the useful benefits for accountants in FDI entities.

Registration

Time:                     From 7:45 to 12:30 AM on 20.5.2016

Location:              CPA Australia Hanoi Office

Room 1201A, 12th Floor, Tower A, Handi Resco Building, 521 Kim Ma, Hanoi

Language:           Vietnamese

Registration deadline is 19 May 2016 via https://goo.gl/TqRbjM

(Note: Time and duration of the Conference may be changed toward the actual demand of the participants)

Conference Program and Speaker Bio can be found here

All detailed information, please contact the representative of the Organizing Committee:

Mrs. Nguyen Hoang Lan - Business Development Manager of FDI segment – AASC Ltd.

0912 000 472 | This email address is being protected from spambots. You need JavaScript enabled to view it.

In celebration of the 25th anniversary of establishment of AASC Auditing Firm Company Limited and Vietnam’s independent audit, we would like to introduce the plant symbol of AASC.

The plant symbol of AASC is a flowering plant species called Dracaena Fragrans which is a money tree, and fortune plant.

The plant consists of three stems with height of 1m, 50cm and 13cm respectively.

The stem of 13cm in height rises with 2 branches, symbolizing the commencement of the Vietnam’s independent audit along with the establishments of AASC Auditing Firm (AASC) and Vietnam Auditing Company (VACO). 

The stem of 50cm in height rises with 6 branches, specifying the period from 2008 to 2010 with 06 biggest Audit firms including AASC.

The stem of 1m in height rises with 5 branches, indicating 5 biggest Audit firms in the market, of which AASC is the only local firm.

The total numbers of the branches equal to 13 which contain special meaning. Particularly, the milestone on 13 May 1991 was marked with the establishment day of AASC Auditing Firm Company Limited and the commencement of the Vietnam’s independent audit.

Images of the Dracaena Fragrans: 

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Wednesday, 27 April 2016 18:10

Thank-you letter

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On 26 April 2016, in Hanoi, AASC auditing firm held the 25th Anniversary celebrations of establishment (13/05/1991 – 13/05/2016). Covered by the theme of “25 years of aspiration and pride”, the ceremony was graced by Former Minister of Finance Mr. Ho Te; Former Deputy Minister of Finance Mr. Vu Mong Giao, Mr. Tran Van Ta, Mr. Nguyen Ngoc Tuan; Director of Department of Accounting and Auditing Regulations (Ministry of Finance) Mr. Dang Thai Hung, Director of Department of Emulation and Commendation (Ministry of Finance) Mr. Nguyen Hung Minh, and other honored clients, partners of AASC. 
AASC Auditing Firm Company Limited rebranded from Auditing and Accounting Financial Consultancy Services Limited Company (AASC) - Ministry of Finance) was established on 13 May 1991 when the Vietnam’s independent audit commenced.  
With dedicated, well-trained and experienced employees and over 25 years of building and development, AASC is proud to deliver the best quality services in the field of auditing, accounting, financial and tax consultancy and business evaluation. Specialized services of the Company are highly recognized and trusted by numerous clients, domestic and foreign organizations.
During 25 years of operation, AASC has been continuously listed in the top five auditing companies operating in Vietnam, especially with the biggest annual revenue (revenue on project settlement report). To mark the 25th anniversary, AASC has reached the turnover of over VND 150 billion, strengthening the leading position in terms of annual revenue, and number of clients. The Company is also highly appreciated by economic corporations, domestic and foreign enterprises, projects funded by international sources and largest donors.  
Over a quarter-century of operation, the success of AASC has been built by the efforts, creativity, and perseverance of our people. We understand that the success today is also a driving force for new inspiration in the future, contributing significantly to the development of the Vietnam’s independent audit.
Photos of the celebration:
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General Director Mr. Ngo Duc Doan delivered a welcome speech
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Director of Department of Accounting and Auditing Regulations (Ministry of Finance) Mr. Dang Thai Hung
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Director General of Corporation 36 under the Ministry of National Defense, representative of AASC clients delivered a congratulation speech, Colonel Nguyen Dang Giap

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AASC Board of Directors made a 25th Anniversary toast

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Musical performance performed by the Youth Union of AASC
 
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Repertoire performed by Mr. Dang Thai Hung - Director of Department of Accounting and Auditing Regulations under the Ministry of Finance, Mr. Nguyen Hung Minh - Director of Department of Emulation and Commendation under Ministry of Finance, Mr. Ngo Duc Doan - AASC General Director along with our employees. 
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Towards the 25th anniversary of the establishment of AASC auditing firm (13/05/1991-13/ 05/2016) and the celebration of 60th anniversary of Department of Accounting and Auditing Regulations (11/10/1956-11/10/2016), on 16/04/2016, AASC auditing firm held a mini football championship which include four teams: the home team AASC auditing firm and 03 other teams Department of Accounting and Auditing Regulations - Ministry of Finance, Department of Finance and Accounting - Viettel Corporation, and Vietnam Steel Corporation. Honored guests invited to cheer on the team: Mr. Dang Thai Hung – Director of Department of Accounting and Auditing Regulations, Mr. Dang Hung Minh - Director of the Department of Department of Emulation and Commendation, Mr. Nghiem Xuan Da – General Director of Vietnam Steel Corporation, and Mr. Vu Duy Huynh - Chief Accountant of Vietnam Steel Corporation along with numerous supporters for the teams.

At the opening ceremony, two matches between the home team and the Department of Accounting and Auditing Regulations team; between Vietnam Steel Corporation and Viettel Corporation team were undertaken under exciting, enthusiasm, and friendship atmosphere. The pace of the game was accelerated at the early minutes; the players played very energetically, tried their best and dedicated to the audience the most beautiful game. However neither team scored, thus they had to compete in the penalty shoot - outs. The team from Department of Accounting and Auditing Regulations excellently won the triumph, the second title belongs to the team from Viettel Corporation, the third prize belongs to the home team AASC auditing firm, and the special prize belongs to Vietnam Steel Corporation for their fairly performance.

This Football Championship was held for the purpose of maintaining and improving the healthy workplace and workforce within the company to better serve the professional work, connect and enhances the friendship between AASC and other precious units that have been stood with AASC throughout its journey during 25 years of building and development.

Images of the Football Championship

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Directions for the attraction, management and use of foreign sponsors’ official development assistance (ODA) and preferential loans from 2016 to 2020 have been issued. 

A similar ODA blueprint for 2011 to 2015 helped achieve targets set in the period’s socio-economic development plan. 

The 2016-2020 plan takes into consideration Vietnam’s status as a middle-income country, which it acquired more than a year ago. The new status is expected to shift relationships with foreign sponsors of ODA and preferential loans from assistance-based to partnership-based. The ODA blueprint for 2016-2020, approved by the Prime Minister, outlines policies to ensure the effective mobilization and use of ODA and concessional loans, helping complete socio-economic development objectives.

While the Party and State recognize the importance of foreign aid and loans, they say internal resources are the best way to attain development goals.

ODA and preferential loans from 2011-2015 programs that haven’t been disbursed total about 22 billion USD. The new blueprint focuses on finishing these as scheduled, in which mostly for investment projects financed by six development banks.

In addition, during 2016-2020, the Government will manage to fulfill these projects and plans on schedule and adopt policies and measures to lure, manage and effectively use ODA and soft loans.
According to preliminary reports from ministries, sectors and localities, demand for ODA and preferential loans for 2016-2020 is very high, about 39.5 billion USD. Most of the sum will be earmarked for transport, urban development, agriculture, rural development, environment, education, training, health care, science and technology.

The disbursed ODA and preferential loans between now and 2020 is expected to be 25-30 billion USD, up 14 percent over the past five years and accounting for 55-66 percent of the total development funds raised from foreign sources.

The disbursement of foreign aid and loans by 2020 is considered highly feasible, since a majority of the programs and projects have already been launched and Vietnam has ensured conditions for the provision of its corresponding funds.

The Government will manage ODA and preferential loans through decentralization to sectors and levels while ensuring close management, inspection and supervision by relevant agencies.

The attraction, management and use of ODA and preferential loans must be carefully reviewed and balanced in the total investment capital sources to ensure public and government debts and state budget deficit within the limit.

In order to keep the ODA transparent and healthy is for concerned agencies, units and localities is to continue strengthening inspection, supervision and evaluation of the use ODA and preferential loans, maintaining investment efficiency, work quality and in accordance with law; actively preventing and strictly punishing negative behavior such as corruption and waste to prevent the loss of this important resource.

                                                                                                               Source: VGP News

Wednesday, 02 March 2016 16:48

Complete Financial policy, promote business

Over the years, with deeper integration, the global economy continues to recover, but still face with many potential risks, the domestic economy despite the positive changes, stable growth rate but still there are some difficulties and challenges. In this context, the fiscal policy is issued along with the new laws, law amendments and supplements have removed many difficulties and obstacles, thus, enabling enterprises to recover and develop.

Establishing transparent legal framework

Some important new features of the new tax policy were enacted as a law on amending and supplementing a number of tax laws; a decree on amending and supplementing 06 other decrees to ensure the transparency including law on corporate income tax, VAT, personal income tax. In which, high preferential CIT conditions applied for enterprises investing in the field of agriculture and urban areas; tax exemption for revenue from co-operative and enterprises in favored fields and favored areas. In addition, the new tax policy has additional incentives at a high level for the duration of investment and industrial production projects to support development priorities, investment projects capitalized at a minimum investment of 12,000 billion dongs which widely and deeply affect the socio-economic; deregulate costs charged to advertising, marketing, promotion expenses, ... thus creating an opportunity for businesses to promote products, rebrand and enhance competitiveness.

Besides, some products serving the agricultural production are now not subject to VAT (previously subjected to 5% VAT); offshore fishing vessels are also not subject to VAT; remove several provisions in the tax filing to simplify tax declaration procedures monthly, quarterly; not apply coercive measures and not charge for late tax payment of tax liabilities in some cases, supplement additional provisions of the exchange rate for tax calculation and payment to the State’s budget; remove fees, charges for input production and trading activities … in order to handle difficulties for enterprises during the course of operation. Moreover, these solutions have created a clear and transparency legal framework encouraging economic forces to invest and provide public services, promote enterprises to reduce costs, lower product costs and services.

Along with improving fiscal policies, the Ministry of Finance continues to reform administrative procedures in the field of taxation and customs in line with the Government’s Resolution No. 19 / NQ-CP; simultaneously, opening up capital flow for investment in capital market and diversifying capital mobilization channels for enterprises, instead of traditional mobilization channels. The preferential policies mentioned above is implemented widely and highly appreciated by domestic and international enterprises.

The task of fiscal policy in 2015 was identified as focus on mobilization, distribution, management and effective utilizing of national resources, gradually restructuring of the state budget, financial security and maintain macro-economic stability, control inflation and ensure economy grow sustainability, solve social issues, defense - security in the new era. Implementing this goal, the entire financial sector has specific solutions, in which the objectives, the first task is to continue focusing on solving problems for production - businesses, economic recovery, solid income generation and stable to the state budget. Additional restrictions enacted new policies to reduce state budget revenues, except for tax cuts for the implementation of international commitments. Strengthen the management of revenue and revenue loss prevention, anti-smuggling, trade fraud, transfer pricing; centralized recovery of tax debts; promote the reform of administrative procedures of tax and customs ...

Breakthrough in administrative procedures

The Ministry of Finance has implemented detailed programs for administrative reform in a comprehensive manner for all financial sectors. Particularly, for the two areas regarding tax and customs, the General Department of Taxation and General Department of Customs promptly implemented solutions and comprehensive synchronization across all operational functions. The institutional reforms associated with the administrative reform, the modernization work and the application of information technology, conducting innovation in training, raising political awareness and qualifications for staff, and officer.

Initial results have shown that, through the review, hundreds of administrative procedures have been simplified, in which 12 procedures concerning e-tax protocols; 34 procedures regarding invoices, receipts, wine stamps and 14 other tax administrative procedures ... For the customs sector, the General Department of Customs has reviewed and abolished 17 administrative procedures, simplifying 46 procedures; review and standardize procedures in the field of customs, including 23 new procedures, replacing the 128 procedures, abolished 84 procedures ... The time for tax administration procedures have been cut-off significantly, particularly in 2014, the time has been reduced by 290 hours, and now is 420 hours, the number of tax administration procedures now only performed by 117 hours, meeting and exceeding objectives as set out under Resolution No. 19 / NQ-CP of the Government. The effective implementation of administrative reform has been recognized through the assessment and Public Administration Reform Index by ministries, sectors recently. Accordingly, the Ministry of Finance ranked No. 2 out of 19 ministries.

Despite achieving significant results, but the reform of administrative procedures in the field of taxation and customs under Resolution No. 19 / NQ-CP still face with difficulties and problems. Business community still expect more in innovation, substantive reform, synchronization at all stages, sectors related to tax and customs procedures. In particular, the companies currently have to pay unofficial fees in the course of implementation of the administrative procedures related to tax and customs which needed to be dealt with.

In the context of Vietnam's economy deeply and widely integrating with the regional economy and the world, creating a transparent business environment, clearing the obstacles and improving national competitiveness in the global competitive strategy to attract foreign investors is a priority objective which should be done quickly.

The year 2016 is marked with strong administrative reform, which brings benefits to individual, and businesses and ensure effective management of the state, protect the community’s interests and ensure social security. The Ministry of Finance, the General Department of Taxation, and the General Department of Customs will continue to review and evaluate the provisions of the tax law and customs to detect and submit proposals to the Government, Parliament, on supplementing and amending regulations to suit Vietnam practices and in accordance with international practice. Along with the administrative reform, the self-reform to ensure efficient in management of the state should be concerned.

In the context of international integration, the Vietnam’s economy not only have more opportunities to reach with favorable business conditions, but also under pressure of competition, which help businesses to develop; the administrative procedure of the State in general, and the financial sector in particular needed to be improved, innovated, thus creating a transparent legal framework, paving the way for economic activities - social. Therefore, the whole financial sector shall amend and eliminate the long administrative procedure which causes trouble in business, contribute positively to the economic development of the country during the current period. /.

Wednesday, 02 March 2016 16:41

Strengthening transportation fee management

In 19 February, the Ministry of Finance sent the Official Letter No. 2319 to the Ministry of Transport on further strengthening the transportation fee management.

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Accordingly, in 2015, the fuel price was reduced multiple times. The Ministry of Finance and Ministry of Transport had provided guidance on strengthening the transportation fee. In essence, transportation companies had reduced fee in order to stabilise the market price, and balance the interest of businesses and consumers. Since the beginning of 2016, fuel price keeps decreasing: Ron 92 petrol price decreased 04 times, with total of VND 2,650/l (by about 16%); diesel 0.05S decreased 03 times, with total of VND 2,400/l (by about 20%). In order to further strengthen the transportation fee management under the market mechanism with supervision from the State, as well as to stabilise the overall market price, according to the authority of transportation management, the Ministry of Finance proposed the Ministry of Transport to direct the Department of Transport, in collaboration with the Department of Finance and other relevant agencies, to strengthen the transportation fee management. Firstly, request transportation companies to review the current fuel price, compared to the fuel price in the previously declared transportation fee plan, in order to create and declare a new plan in line with the decrease in fuel price; closely coordinate in exchanging information on the declared fee of transportation companies operating on the same route to unify fee between 2 ends of the route; strictly penalise any violation of regulations on transportation fee management and operation according to law. Secondly, request transportation associates to communicate with local transportation companies on declaring and publishing transportation fee in accordance to the regulations and adjust transportation fee in accordance to the market mechanism and in line with the fuel price; publish companies that do not declare and decrease the transportation fee upon request for authorities to penalise.

Implementing Directive No. 15/CT-TTg dated 07 July 2015 of the Prime Minister on the continued implementation of Resolution No. 22/NQ-BCT dated 10 April 2013 of the Political bureau on international integration, Vietnam has actively negotiated and signed new free trade agreements (FTAs) with partners. By the end of 2015, Vietnam has signed 10 bilateral and multilateral FTAs ​​(including the ASEAN Free Trade Area, ASEAN Free Trade Area - China, ASEAN - Korea, ASEAN - Japan, Vietnam - Japan, ASEAN - Australia - New Zealand, ASEAN - India, Vietnam - Chile, Vietnam - Korea and Vietnam - Eurasian Economic Union), finished the negotiation of 2 important agreements with EU and USA, announced the completion of the EU-Vietnam free trade agreement (EVFTA, dated 02 December 2015) and negotiated successfully Trans-Pacific Partnership (TPP, dated 05 October 2015). Besides, 2015 marks the year Vietnam officially joined the ASEAN Economic Community (AEC). Therefore, 2015 is considered as pivotal year in the process of international economic integration of Vietnam with important advances.

Reached agreements with major trading partners

EU-Vietnam free trade agreement

Launched from June 2012, EVFTA went through 14 round of negotiation, lasting from October 2012 to August 2015. After finishing basically negotiation of the contents of the agreement dated 04 August 2015 and dealing with technical issues and finalizing the text of agreements dated 02 December 2015, the two sides announced the completion of the negotiation. Vietnam pledged to eliminate tariffs once the Agreement enters into force with elimination of 48.5% of tariff lines, equivalent to 64.5% of imports from EU, and after 10 years with elimination of 99% of tariff lines, equivalent to 99.8% of imports from EU. For the remaining tariff lines, Vietnam will have a roadmap for over 10 years or provide preferential to the EU on the basis of WTO tariff quotas.

Trans-Pacific Partnership

After 5 years of intense negotiations, TPP agreement between 12 member states officially finished negotiation on 05 October 2015 (expected to be signed in the first quarter of 2016). Vietnam has committed to eliminate tariffs on 66% of tariff lines as soon as TPP takes effect and elimination of 86.5% of tariff lines after 3 years the Agreement came into force. The remaining items will have the schedule on tariff reduction from 4 to 10 years. Some goods are particularly sensitive, Vietnam committed to the roadmap for over 10 years or tariff quota.

ASEAN economic integration

Joining the AEC, Vietnam not only has to implement trade agreements but also commits to open in many other areas. Officially established in late 2015, AEC includes the three main pillars: the Political-Security Community (ASEAN – ASC), the Economic Community (AEC) and the Socio-Cultural Community (ASEAN - ASCC) and is built on four interrelated and mutually-reinforcing pillars: (i) a single market and production base through free flow of goods, free flow of services, free flow of investment, free flow ò capital, free flow of skilled labor, (ii) a highly competitive economic region shaped from competition policy, consumer protection, intellectual property rights, infrastructure development, taxation, e-commerce (iii) a region of equitable economic development implemented through SME development, initiative for ASEAN Integration, and (iv) a region fully integrated into the global economy through coherent approach towards external economic relations, enhanced participation in global supply networks (WTO).

ASEAN Trade in Goods (ASEAN – ATIGA) is also being According to the roadmap commitments of ATIGA, till 2015, the ASEAN countries basically completed the elimination of import tax in the list of common goods. CLMV countries (Cambodia, including Cambodia, Laos, Myanmar and Vietnam) are allowed to remain tariff rate for 7% of tariff lines till 2018. From 2018, Vietnam can only maintain import tax with a maximum tax rate of 5% for around 3% of tariff lines, including mostly the sensitive agricultural commodities (live poultry, meat, eggs, citrus fruits, paddy, brown rice, processed meat, sugar). Two groups of commodities with long roadmap of commitment and no roadmap are gasoline by 2024 and tobacco (which should be provided with a roadmap for tariff reduction in the near future).

Besides EVFTA, TPP, AEC in 2015, Vietnam has signed two agreements with South Korea and the Vietnam - Eurasian Economic Union. Thus, it can be said that 2015 has marked the international integration of Vietnam with most major trading partners.

Big opportunities for the economy

In terms of trade relations, EU, TPP and ASEAN are the leading partners of Vietnam. According to statistics of 2015, Vietnam's exports to TPP countries accounted for the largest proportion. EU is in the second place and the third is the ASEAN countries.

In terms of expanding the market EU, TPP and ASEAN are all potential markets for Vietnam’s exports. Once completed, TTP would create the world’s largest free-trade zone with 800 million consumers, making up 40% of global GDP and represent 30% of global trade. Meanwhile with more than 500 million consumers and GDP of more than USD 17,000 billion, EU is a potential market for Vietnam's exports. Currently, Vietnam's exports to EU accounted for about 0.75% of the total import turnover of EU, of which only 40% enjoy the tax rate of 0%, 60% are subjected to different tax rates. Similarly, AEC is also a large market with GDP of over 2.3 billion dollars and growth rate of 5%/year, the population of over 625 million people, young population. This shows that the achievement of the agreements with these partners will open up opportunities for Vietnam’s commodities to access the large-scale market.

In terms of benefits of domestic production, the deep tax cuts between the major trading partners will create favorable conditions for enterprises to reduce costs, thereby enhancing the competitiveness of domestic goods, affecting positively on production and domestic consumption.

Besides, the implementation of international commitments under the FTA will have an impact on the size of the economy, transfer of technology; foreign investment attraction, reform, policy reform and competitiveness and economic growth in the long term. 2015 also marked the beginning of the roadmap of tariff cuts at the deepest level towards the final commitments on tariff elimination of import tariffs within the FTAs, which Vietnam has signed with key partners such as China Korea and South Korea ... The higher the degree of international economic integration, the higher the benefits of economic integration, however, integration is only a necessary condition, without the preparation and strong domestic reforms, the benefits will pass to the trading partner.

Many obstacles to overcome

The preparation of Vietnamese enterprises in the context of integration is not sufficient. AEC officially formed at the end of 2015, however according to the survey “AEC in the new context of the world and the participation of Vietnam” implemented by University of Economics, Hanoi National University in nearly 700 small and medium enterprises in 5 provinces: Hanoi, Hai Phong, Ho Chi Minh city, Da Nang, Can Tho; 76% of Vietnamese enterprises 76% of Vietnamese enterprises do not have full awareness of AEC;

94% of enterprises do not have full awareness of the context of negotiation in AEC; 63% of enterprises do not understand opportunities and challenges when Vietnam joins AEC. While the large-scale enterprises or FDI enterprises have certain investigations and studies on the impact of agreements, understand the impact of the integration on the business operations, on imports and exports of enterprises entry of export enterprises, small and medium enterprises Svetlana (major proportion, more than 90% of all enterprises) do not have full awareness, a full assessment of the impact of integration therefore have no preparation and are passive in the integration process.

Vietnamese enterprises are not only lack of integration process but also have weak competitiveness. The state-owned enterprises (SOEs) still fails to promote the leading role in shifting the economic structure, innovation and technological development. The private sector is generally small-scale and limited respect to financial capacity, technology; the domestic manufacturing sector has to face competition in price and quality of imported goods. Besides, the structure of exports from Vietnam to the market has not yet changed so strong, still focused mainly on agricultural products, industrial goods using labor intensive and material and energy commodities ...

Technical barriers and strict origin requirements will be the factors that would impede the expansion of the export market of Vietnam. Under the terms of the origin of goods proposed in the TPP, export products in the member countries must have intra TPP origin to be eligible to preferential. This is the disadvantage because Vietnam mainly imported from the countries outside the TPP such as China, South Korea for processing exported goods, without conversion material region, Vietnam's exports will not be eligible to tax incentives.

Regarding the EU, Vietnam exported to the EU mainly primary products; food products such as vegetables, seafood ... so enterprises will have to adhere to the requirements of hygiene and epidemiology, product quality. EU requires high standards regarding technical, hygiene and product quality that not every business can meet. This result in the significant increase of production costs for Vietnam’s goods exported into the EU and decrease in competitiveness. If Vietnam enterprises exported to the EU do not have full awareness, they therefore cannot take advantage of the tariff preferential, they can even be banned from import, or be subject to high anti-dumping duty in the EU as countries are tend to utilize the barriers ... All analyzes indicate that reaching an agreement with major partners could also be significant challenge for the business community and economy as a whole./.

Nguồn:  http://www.mof.gov.vn

According the General Statistics Office (GSO), as at 20 February 2016, 291 newly licensed projects are approved with total capital over USD1.905 billion, surging 96.6 percent in the number of projects and 167.5 per cent in the level of capital compared to 2015. While another 137 operating projects, which expanded their investments, contributed $898.3 million. GSO noted that disbursements of foreign direct investment (FDI) also recorded a yearly rise of 15.4 per cent to an estimated $1.5 billion compared to 2015.

During the reviewed period, the manufacturing and processing sector accounted for more than 71.2 per cent of the total FDI pledged in the country, as it attracted $1.995 billion. This was followed by the entertainment industry, with $210.6 million, accounts for 7.5%, other sector reached USD597.8 million, accounts for 21.3%.

In the first two months, Ha Noi retained its position as the most attractive investment destination with $242.4 million in investments, totaling 12.7 per cent of FDI pledged in the country.

The northern provinces of Bac Giang and Bac Ninh came in second and third with $206.1 million or 10.8 per cent, and $200.6 million or 10.5 per cent, respectively. They were followed by Ba Ria-Vung Tau Province with USD157.1 million; accounts for 8.2%; HCM City with USD155.9 million; Dong Nai Province with USD142.7 million, accounts for 7.5% and Ha Tinh Province with USD139 million, make of 7.3%; Binh Duong with USD129.7, accounting for 6.8%.

Out of 31 nations and territories, Singapore remained Viet Nam's largest source of FDI, with $435.2 million and making up 22.8 per cent of the nation's total new registered FDI in the past two months. It was followed by Malaysia with $233.2 million or 12.2 per cent; South Korea ($202.4 million or 10.6 per cent); and Japan ($160.6 million or 8.4 per cent); Hong Kong ($153.5 or 8.1%; China $141.1 or 7.4%, UK $141, 7.4%, Taiwan $119.8, 6.3%).

Source VNS

bee81 bi ep nhan muc khoan san luong cao

The Robusta price in the past had climbed to as much as VND50 million per ton, which helped many farmers get rich. However, it has tumbled dramatically to below production cost. No organization has forecast a bright future for the coffee industry in 2016.

Nguyen Van Phu, 40, a farmer in Dak Lak province, said his coffee output last year was 10% lower than years before because of the drought. However, the worst aspect for him is the sharp price fall. Dry Robusta is now traded at VND36 million per ton, much lower than the highest peak of VND50 million per ton seen some years ago.

“We cannot make profit with such a price. Meanwhile, we have to pay for bank loan interest to replant 40 percent of old coffee area,” he said. 
Hoang Tung Minh, 35, in Bao Loc Town of Lam Dong province, said it had not been raining in the last month in Bao Loc. The drought has affected his 2.5 hectares of coffee. “I will have my coffee field watered if it does not rain in some days,” he said, adding that he does not think much about the watering cost, but feels worried if there is water to irrigate the field. 

According to the Vietnam Coffee and Cocoa Association (Vicofa), in the 2014-2015 crop, Vietnam had 617,700 hectares of coffee growing area which put out 1.5 million tons of coffee beans, or 20 percent lower than the years before.

Vicofa attributed the output decrease to El Nino which led to the drought. Meanwhile, the coffee replantation program is going slowly, and the old coffee area has increased.

The coffee output decrease not only occurred in Vietnam, but in the world as well. Vicofa said the world’s output was 141 million bags in 2014-2015, or 8.5 million tons, down by 3.5 percent. However, Nguyen Viet Vinh, Vicofa’s secretary general, cannot understand "why the price keeps decreasing despite the output reduction. He said the coffee price had not gone up and down in accordance with supply and demand, but with the finance market performance.

A report of the Ministry of Agriculture and Rural Development (MARD) found that the coffee export turnover in 2015 decreased sharply by 28%.

Vietnam coffee exports have become less attractive to importers because Brazil, Columbia and Indonesia – Vietnam’s main rivals – have devalued their currencies sharply.

In Vietnam, Bloomberg estimated that farmers still had 50,000 tons of coffee by the end of September 2015, while exporters in HCM City had kept 192,000 tons.

(Source: Vietnamnet)

Mr. Doan Xuan Truong – Chief of Office of the General Department of Taxation said that in 2015 theGeneral Department of Taxation has made many reforms in administrative procedures, thereby saving VND 7.000 billion.

7.000 billion is the sum the Vietnamese taxman helped businesses save in 2015 via paperwork streamlining.

According to Mr. Truong, the General Department of Taxation has guided the departments and units in reviewing and finalizing legal documents to reduce administrative procedures, tax compliance hours for citizens and businesses

By many measures from simplification of administrative procedures to reduction in administratvehours, the time needed for tax payments was cut to 117 hours from 537 hours as previously, thus meeting and exceeding the set-out target under Resolution No. 19 / NQ-CP.

Also in 2015, the General Department has requested the Ministry of Finance to reduce 63 administrative procedures and simplify 50 procedures. Thus, after the review, the tax sector has 385 administrative procedures.

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The recent foreign exchange policy moves such as U.S. dollar-Vietnam dong exchange rate adjustment, dollar deposit rate reductions and anti-hoarding of foreign currency, as well as economic growth and falling inflation will place certain impact on the property market. Therefore, citizens and enterprises might use their domestic currency funds to invest in the property market, which is considered an attractive investment vehicle at present, VNREA said in a report.

The commercial budget condo segment will continue growing but it would not steal the limelight as it depends on Government support.

This year, the property market is expected to draw more foreign investors seeking to capitalize on the revised laws on housing and property trading that came into force last year.

However, despite its recovery, the property market is still facing risks, especially of bad debt. Most realty businesses are sitting on bank loans with interest rates of over 10% per year. Besides, the market has yet to receive significant support in addition to the Government’s VND30-trillion credit package, VNREA said.

Source: Saigontimes

In the highly enthusiastic and happy atmosphere of the Year of the Monkey, on the morning of 15/02/2016  (The January 8th of the Lunar New Year), Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff of AASC Auditing Firm have jubilantly organized a meeting, celebrating a new year’s eve. This is an annual event and has become a good tradition of the company.

On behalf of the Member Board, the Board of General Director, Mr. Ngo Duc Doan, Chairman of the Member Board, General Director of AASC wished all officers, and the whole company staff new year greetings, prosperity, joy and great achievements. In addition, Mr. Doan also believed that in the New Year, all departments and units of AASC with consensus, efforts will strive to accomplish all the assinged tasks, thus positively contribute to the growth of AASC and maintain the leading  position of AASC in Vietnamese Indepedence Audit and the region.

Image at the meeting:

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Thursday, 18 February 2016 13:36

The AASC Work Conference succeed

AASC jubilantly organised Workers Conference to welcome new year- Binh Than 2016.

Company is honor to welcome the representative from Ministry of Finance, including Mr. Bui Xuan Ngoc- Deputy Chairman of Trade Union, Ms. Le Thi Hoa- Deputy Director of the Central Committee for Propaganda and Education.

Speaking at the Conference, Mr. Nguyen Thanh Tung- Standing Deputy General Manager has summarized reports on business activities as well as achievements in the past year, and indicated the direction and strategic plan approved by the Board of Members so as to achieve the sustainable development in next financial year. After that, Mrs. Cat Thi Ha- Deputy General Director- Chairman of Trade Union also reported on the social activities that are implemented by the Trade Union and are received warmly responds from AASC employees as whole.

Also at the meeting, the Chairman - Chief Executive Officer - Mr. Ngo Duc Doan affirmed the success of the eighth fiscal year as a result of the effort, unity and determination of all AASC employees and auditors under the leadership and guidance of the Board of Directors and the Board of Members. CEO also hoped that all staff and auditors continuously study so as to improve knowledge, thereby contribute to raising the status of the audit firm in Vietnam and Region Independence Industry.

Some pictures at the Conference: 

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The Chairman - Chief Executive Officer - Mr. Ngo Duc Doan speaking at the Conference

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Thursday, 18 February 2016 11:15

Retail sector sees foreign-Vietnam M&A

The Vietnamese retail market has seen some mergers and acquisitions (M&A) between foreign and Vietnamese enterprises.

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As part of its commitment to join the World Trade Organisation, Viet Nam has allowed the establishment of 100 per cent foreign retail companies since 2015. Viet Nam's membership of the ASEAN Economic Community officially operate since 2016 will allow goods, financial resource, human resource and material… freely move during the Community. Besides, thanks to the Trans-Pacific Partnership Agreement, more than 10,000 kinds of goods from 12 member countries at zero tariffs will flowed to Vietnam boosting the development of Vietnam retail market.

In this context, the current modern retail channel of supermarkets and stores account for only 25 per cent of the market share in Viet Nam, much lower than in the regional countries, such as 33 per cent in the Philippines, 34 per cent in Thailand, 51 per cent in China, and 60 per cent in Malaysia, besides 90 per cent in Singapore. It is foreseen that, Vietnam will increase the modern retail channel of supermarkets and store up to 45%. Therefore, Vietnam retail market could be regarded as productive land to invest.

The local retailers that run modern shopping channels are Co-opmart with 77 supermarkets, Fivimart with 20 supermarkets in Ha Noi, Citimart with 27 supermarkets, and Hapro with more than 20 stores.

Thai retailer Berli Jucker, which acquired Metro Cash & Carry in Viet Nam, has announced plans to buy French retail casino group Casino Viet Nam, which owns more than 30 Big C supermarkets across the country.

Not only did foreign retail giants use M&A to enter the local retail market, local firms such as real estate developer Vingroup did the same. Vingroup has made consecutive M&A deals in the retail sector so far. It bought the Ocean Mart in 2014, renamed it Vinmart and expanded the chain. Then it bought 100% shares of Vinatextmart from the Viet Nam Textile and Garment Group, ending up with 39 Vinatextmarts in the country.

The group has also bought an 80 per cent stake in Hop Nhat Company, renaming it Vinlinks, and using it as the delivery for Vingroup's retail segment.

                                                                                                Source: VGP news

Within the framework of a series of events towards the 25th anniversary of Vietnamese Independent Audit and AASC Auditing Firm (13 May 1991 – 13 May 2016), on the occasion of the 86th anniversary of the founding of the Communist Party of Vietnam (03 February 2016), the Chairman and General Director – H.E. Ngo Duc Doan, together with representatives of the Board of Directors of AASC Auditing Firm, held a warm meeting in celebration of new monkey year 2016 to express the gratitude to the retired officers who used to hold key positions in finance sector. The meeting was honorably attended by former Deputy Ministers of Finance - Mr. Pham Van Trong, Mr. Tran Van Ta and Mr. Vu Mong Giao; former General Director of AASC – Dr. Pham Huy Doan; former Deputy Head of the National Assembly Budget Committee cum President of the Vietnam Association of Accountants and Auditors (VAA) – Mr. Dang Van Thanh; former Deputy Minister of Finance cum President of Vietnam Valuation Association (VVA) – Mr. Nguyen Ngoc Tuan, along with AASC’s retired officers.

In nearly 25 years of establishment, growth and development, AASC Auditing Firm has always been grateful to retired officers for their leadership, guidance and contribution, promoting the firm’s achievements and the overall development of Vietnamese Independent Audit. Also, at the meeting, the Chairman cum General Director of AASC affirmed his belief that all leadership generations would continue to follow, support and motivate AASC Auditing Firm to overcome challenges of integration and to grow prosperity, greatly contributing to Vietnamese Independent Audit.

Image of the meeting:

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Monday, 04 January 2016 16:36

Ten Milestones in 2015

We would like to introduce 10 milestones in 2015 of AASC Auditing Firm, closing successful and meaningful financial year.

1. Small and medium companies accelerated cooperation with AASC to develop and increase the fair competition, and customer’s belief and persistently increase revenue as well as auditing and consulting services quality. The small and medium companies cooperate with AASC so as the developments of independent auditing company and Vietnam Independent Auditing industry are acknowledged.
2. Boost valuation service
2015 marks simultaneously development of business valuation service for equitation purposes for some typical State businesses such as Vietnam Cement Industry Corporation, 36 Corporation, Military Petroleum Corporation , Pharmaceutical Corporation ... This is an important cornerstone for strong development and diversified services.
3. Intensive development and Valuation department establishment
Catching new trend 2015, AASC established new department specializing in valuation. Company successfully implemented several complex contracts with the cooperation of the Value Management Department- Ministry of Finance and Vietnam Appraisal Association, also marked the deeply specialization in valuation from 1 October 2015. Revenue for valuation services achieved growth of 253 % over the fiscal year VII.
4. Boost strategic cooperation with international training institutions
AASC Auditing Firm continues to tighten relations with the reputed International Training Organization such as CPA Australia, ACCA, ICAEW... to enhance staff quality, professionalize service quality and meet the stringent requirements of customers and international standards. At CPA Australia Career expo, AASC has attracted the attention of a large number of candidates and students, shared with the company in its efforts to fulfill the mission of national finances transparency.
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5. Revenue in fiscal year VIII achieved over 150 billion dong

Revenue in fiscal year VIII reached over 150 billion dong, increase by 10% compared to fiscal year VII. AASC continues to be in TOP 5 companies of Vietnam Independent Auditing Industry.

6. Successful Gala Night 2015

Towards the 25th anniversary celebration of AASC establishment (13 May 1991- 13 May 2015) and the HLB International Conference in Vietnam, AASC Auditing Firm held several events to celebrate and encourage the entire Board of Directors, staff, the auditors and employees of the Company so as to jointly contribute to the prosperity of the company. Gala Night 2015 has gathered and disseminated AASC’s spirit, demonstrated AASC’s culture, illustrated and highlighted the marked position of AASC in Vietnam Independent Auditing Industry.

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7. AASC Football Cup 2015

AASC football cup 2015 is one of events towards the 25th anniversary of establishment of the Company and HLB International Conference in Vietnam. The annual AASC football Cup 2015 took place in a spirit of enthusiasm and friendship between the departments and Branches of AASC. The cup left aftertaste for each player and others the happiness and belief that AASC will always be  perfect representative of Vietnam Independent Auditing Industry during 25 years of establishment and development.

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 8. Champion of Friendship Football Cup 2015

Responding to the activities organised by the ministries, departments and industry organizations, AASC had many achievements and won the championship of Friendship Football Cup 2015 hosted by the Vietnam Union of Friendship Organizations. Participating this cup is an opportunity to promote relationship so as to mutually understand between the company and Ministries and the State Departments.

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9. Completion of new office procurement in Hochiminh City

In 2015, AASC has completed the procurement of new office in Ho Chi Minh City at No. 9, Nguyen Khoai Street, District 4, Hochiminh city. It is expected that the new office of AASC in Ho Chi Minh City will be launched into operation before this Lunar New Year- Binh Than 2016. This is an important event shown bravery and determination of the Board of Members and Directors in promoting, spreading AASC brand extensively and nationally.

Galaxy 9 2

10. Successful Board of members’ meeting IX

The successful Board of members’ meeting IX recognised the achievements of AASC during 8 years from the transformation (02 July 2007) from the State to two members or more companies, demonstrating the success and solidarity of Board of members. Accordingly, the Board of members has the strategic plan for AASC development to 2020 and vision 2030, spreads brand AASC in regional and international independent auditing industry and always deserves to be the leader of Vietnam Independent Auditing Industry. 

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On 21/12/2015, at AASC’s Headquarter, the Company’s Veterans Association cooperated with General Department organized a meeting toward 71th anniversary of the VPA (22/12/1944-22/12/2015) and 26th anniversary of National Defense Day (22/12/1989-22/12/2015). Attending the meeting were Board of Directors, Company Party, Union and Communist Youth Union as well as members of AASC’s Veterans Association.

On this special occasion, people recalled the national heroic tradition and share unforgettable memories between members of AASC veterans. Speaking at the meeting, on behalf of the AASC’s Board of Directors, Deputy General Director Nguyen Thanh Tung expressed his sincere thanks, gratitude the great contribution of veterans and soldiers to their respective country as well as their precious home – AASC. Their determination air from Great Uncle Ho’s spirit, assist them to overcome all difficulties and accomplish all assigned tasks, thus contributing to the development of AASC. Also at this meeting, Chairman of Union, Secretary of the Youth Union has contributed gifts, raised songs and hoped that all veterans and soldiers working at AASC will always be a giant spotlight, along with members of Union, AASC’s Youth Communist together promote the long-lasting AASC brand name.

Pictures at the meeting: 

SAM 2023

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Toward the 65th Anniversary of Vietnam union of friendship organizations (VUFO) (17/11/1950 – 17/11/2015), in early November 2015, AASC Auditing firm – on behalf of Ministry of Finance took part in and earned the throne of the Football league.

This event honorably welcome the distinguish guests: Mr. Don Tuan Phong -VUFO Vice Chairman and General Secretary – and those from Ministry of Planning and Investment, Ministry of Finance, Ministry of Public Security, Commission for Foreign Relations of the Party Central Committee …

According to the tournament structure, there are 8 football teams divided into two groups, each group contains 04 teams, in which two teams with high scores will be at semifinals. With enthusiastic and friendship sporting spirit, all players dedicate to their precious audiences the most exciting and emotional matches. AASC Football team – on behalf of Ministry of Finance Communist Youth Union – won the triumph after defeat VUFO team in penalty shoot-outs. The third position belongs to both Ministry of Public Security, and Commission for Foreign Relations of the Party Central Committee team.

The Friendship Football league 2015 not only expresses the sporting spirit but also strengthens and maintains the relationship between Communist unions, union members and the government sectors; thus spreading AASC’s branding far and wide across the country.

Pictures of the event: 

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the Footbal league champion - AASC Auditing firm

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Top scorer award

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On 23/11/2015, AASC Auditing Firm has recently organized the 9th Board of Member’s Meeting at Phu Quoc, Kien Giang, Viet Nam with the appearance of 28 members and 03 distinguished guests: Senior Manager of Foreign Investment Service Department 1, 2 and Audit Department 6 in a jubilant atmosphere to celebrate its achievements in the 8th fiscal year, and maintaining the leading position in the professional audit service.

The Ninth Meeting has passed the Financial Statements of the Executive Board with number of highlights: Revenue increased by over 10% compared with the financial year VII, Appraisal services and valuation of enterprises increased by 253, 22% and consulting services rose up 177.42% over the previous year; Report of the Supervisory Board and Report on the eighth financial year. The Member of Management Board of the Company has discussed thoroughly about setting targets, direction, and action plan of AASC auditing firm for the 9th fiscal year. Simultaneously, the Meeting also approved on some new policies; especially through the establishment of Research and Development - Marketing and PR Department, thus help strengthen the position of AASC in the auditing industry and towards the successful implementation of the development strategy of AASC to year 2020 and Vision 2030.

At the end of the the meeting, Chairman of the Board of Member, General Director of AASC auditing firm, Mr. Ngo Duc Doan has called for wholehearted contribution of all members for AASC’s development of AASC in the following years. The Chairman also believed that with the right strategy and the consensus of all members, Board of General Directors, auditors, managers and staff, AASC Auditing Firm will develop strongly and stably, being a prime example in the Vietnamese Auditing companies and spreading AASC image to the whole world.

The 9th Meeting Pictures:

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In almost economic sectors of Vietnam, transport is a sector using ODA capital most and earliest, because transport infrastructure investment always goes one-step ahead as a foundation to promote growth of the domestic economic sectors.

However, this area requires a large amount of investment capital that cannot meet the demand if only focusing on mobilizing domestic capital. Hence, ODA becomes an important capital source for the State budget and additional external source to meet the demand for development investment capital, to help absorb the modern scientific technology achievements and develop human resources as well as increase the attraction of FDI inflow.

On July18, 2015, VEC held a groundbreaking ceremony for Construction and installation Package (J3): Phuoc Khanh Bridge belonging to Ben Luc – Long Thanh highway project (financed by JICA). Sumitomo – Cienco 4 partnership won the bid through extensive international bidding.

According to Mr. Mai Tuan Anh - General Director of Vietnam Expressway Corporation (VEC), currently, with the projects using Japanese ODA capital in general and the projects invested by VEC in particular, Vietnam enterprises are able to join if they meet the project requirements of financial capability and professional experience.

In expressway construction projects of VEC, typically the project of Ho Chi Minh City-Long Thanh - Dau Giay expressway construction, Vietnam enterprises (including the Contractors belonging to the Ministry of Transport and the Ministry of Defense and the private contractors) participated in 5 of 8 constructions and installation packages financed by JICA. In  project of Da Nang-Quang Ngai expressway construction, Vietnam enterprises (including the Contractors belonging to the Ministry of Transport, the Ministry of Construction and the Ministry of Defense and the private contractors) participated in 7 of 8 constructions and installation packages for the component part financed by JICA; the remaining package was performed by Vietnam - Spain contractor consortium. In the project of Ben Luc-Long Thanh expressway construction, Vietnam enterprises (including the Contractors belonging to the Ministry of Transport and the Ministry of Construction) joined together with Japanese contractors as the bid winners of 3 packages using STEP capital of JICA.

In the above-mentioned projects, the selection of contractors is performed strictly through international competitive bidding procedures. Thus, presence of Vietnam enterprises in projects using Japanese ODA capital is increasing.

For projects that Vietnam contractors joined together with international contractors, especially in the bid packages requiring special and advanced technology, Vietnam enterprises actively received the technology transfer, through which they enhanced their capability of technology and construction management.

Previously, due to limitation of financial capability and professional experience for bidding participation, Vietnam enterprises often engaged the bid as subcontractors of international businesses. However, until now, after many years of participation in ODA projects, numerous Vietnam enterprises have enough capability to engage big packages following the international competitive bidding procedures and have won as independent contractors or contractors joining together with international contractors. Vietnamese enterprises will not get any obstacles in participation in ODA projects if they meet the project requirements of financial capability and professional experience.

Compete fairly when participating in the international “arena”

Before participating in projects using ODA capital, Vietnam enterprises should understand the procedures of donors and international practices thoroughly in order to meet the requirements of technical, financing and experience to be able to participate in bidding in way of fair competition with other international contractors.

Currently, ODA projects require a strict contractor selection process following the procedures of international competitive bidding (for large-scale bidding packages) and domestic competitive bidding (for small-scale bidding packages). In fact, numerous Vietnamese contractors has participated in competitive bidding packages and won large-scale packages worth over $100 million (CIENCO4 won the bidding package no. 9 -Ho Chi Minh City-Long Thanh-Dau Giay expressway construction project). Joining together with Japanese contractors in Ben Luc-Long Thanh expressway construction project, Vietnamese contractors such as VINACONEX E&C, CIENCO4 have been participating with significant proportion.

 “Through the implementation of ODA projects of Vietnam Expressway Corporation, we can see that the participation of Vietnamese enterprises in these projects is increasing, and it shows the growth in all aspects of Vietnamese enterprises”- General Director, Mai Tuan Anh assessed.

The importance of ODA for Vietnam’s economic development is as an important additional source of capital for development investment, to absorb scientific achievements, modern technologies and development of human resources. These are basic and long-term benefits to Vietnam, which help in adjusting the economic structure of the country, in increasing ability to attract FDI as well as in creating conditions for expanding investment and development.

 Source: http://www.mt.gov.vn/vn/Pages/Trangchu.aspx

Thursday, 19 November 2015 08:46

AASC Participated in CPA Career Expo 2015

In two days 14/11 and 15/11/2015, AASC Auditing Firm took part in CPA Career Expo 2015 as a strategic partner with CPA in Vietnam. CPA Career Expo 2015 is an international series of events held annually across Asian-Pacific region which focus on finance – accounting industry for students and fresh graduates to gain advice and assistance with career and professional development. Especially, this event also offers participants an opportunity to meet CEO of CPA – Mr.Allex Malley to seek career advice. This Career Expo was held in Viet Nam for the first time, in both HCMC and Hanoi and attended by around 20 country’s leading employers, including AASC Auditing Firm, Big 4 Groups, Grant Thornton, Vietinbank…

At the event, AASC’s booth was largely surrounded and attracted by talented students who want further career development. Through this special occasion, in order to accomplish the company’s missions for the period 2015-2020- vision 2030, AASC believe that with long-built reputation, the company always keep attracting, maintaining high quality of staff, growing and competing fairly with Big 4 Groups in Vietnam. 

Pictures at the Career Expo 2015:

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Deputy General Director of AASC - Bui Van Thao

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CEO CPA Australia - Mr. Alex Malley and strategic partner AASC Auditing Firm

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Thursday, 22 October 2015 16:52

AASC's Celebration of Vietnamese Women's Day

On 20 October 2015, at the Head office in Hanoi, Trade Union Committee of AASC Auditing Firm held a warm meeting to celebrate female auditors, officers and staffs on the occasion of the 85th anniversary of the Vietnamese Women's Day (20 October 1930 – 20 October 2015). The meeting was well attended by representatives of Board of Directors, Trade Union Committee and managers of all departments.

On behalf of Board of Management and Board of Directors, the Chairman and General Director – H.E Ngo Duc Doan presented female auditors, officers and staff with flowers, recognized and praised their achievements, and wished them health, happiness and successful completion of all assigned tasks in order to deserve the title of the Vietnam Women – “Successful in work, dutiful in housework”, and to contribute to the endless development of AASC Auditing Firm. In addition, via the company staff, the Chairman also sent the congratulations to grandmothers and mothers who were, are and will always be a firm pivot and strong support for female auditors, officers and staff to complete all tasks and services across the country.

Then, Head of Trade Union Committee - Cat Thi Ha, on behalf of  Trade Union Committee and female staff, expressed the special thank to the Chairman, Board of Directors and male staff for deeply caring female staff. Also, she sent the best wishes to female staff for good work and constantly striving for strong growth of AASC.

As a part of the meeting, the Youth Union of AASC performed some special repertoires as a meaningful spiritual gift to the Company’ female auditors, officers and staffs in celebration of 20 October.

Some images of the meeting:

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20.10 3

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Friday, 09 October 2015 15:06

Magical Gala AASC 2015 night

On the evening of 02 October 2015, at the Hanoi Drama Theatre – No. 42 Trang Tien street, Hanoi, AASC Auditing Firm successfully held the AASC Gala 2015. The Gala honorably got the attendances and joy sharing of special guests from Ministry of Finance including Assoc. Prof. Dang Thai Hung – Director General of Department of Accounting and Auditing Regulations, Mr. Nguyen Hung Minh – Director General of Department of Emulation and Commendation and representatives of Communist Party Office of Ministry of Finance as well as families and relatives of the Company’s officers and staffs towards the 25th anniversary of Vietnamese Independent Audit and AASC Auditing Firm (13 May 1991 – 13 May 2016) and  the HLB International Conference in Vietnam.

On his speech at Gala night, the Chairman and General Director – H.E. Ngo Duc Doan greatly welcomed the attendances of all departments’ performance teams in the whole company’s feverish excitement of successfully implementing and exceeding the 8th financial year plan as well as making achievements in celebration of the events mentioned above. He also wished all departments’ repertoires excellent, impressive and remarkable.

The Gala was comprised of two main parts. The greeting part was the blend of teams’ creativity, wit and charm. The second one required departments to demonstrate their talents for singing and dancing as well as their flexibility and variety in performance style. Finally, the Gala was ended with the winning of Audit Department 1; the first and second runners-up were respectively Audit Department 2 and Audit Department 7.

The AASC Gala 2015 successfully took place in the convivial atmosphere. All of the Company’s auditors, officers and staffs gathered and spread AASC’s spirit, showing the auditing culture, brightening AASC’s image as the leading auditing company in Vietnam and deserving the first and largest Vietnamese auditing firm. 

Some images of AASC Gala 2015:

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The Chairman and General Director – H.E. Ngo Duc Doan made the speech

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The repertoire of the winning team – Audit Department 1

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The mystic Indian dance by Audit Department 6

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The colorful performance by Audit Department 7

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Gala 2015’s prize award

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Tuesday, 29 September 2015 17:17

AASC Mid-Autumn Festival 2015

Jubilantly joint the traditional event throughout the country, on 26/09/2015, AASC has organized the "Mid-Autumn Festival 2015" for the whole Company’s employees, especially for their children.

Attending this year Festival got the attendance of AASC’s members Board of Directors, Heads of units/divisions with their relatives. Chairman of Management Board- General Director Mr. Ngo Duc Doan wish all the children have an all-in night with their family members and he also hope they are always hard-working to become useful citizens of the country, high-quality human resources for the company, thus contributing to the sustainable development of AASC in the future.

The opening ceremony of this night marks the childish songs with colorful lyrics, along with the humor and charm of 02 MC -Moon Lady (Ms Hang) and her friend Uncle Liar (Mr. Cuoi) that stirs the atmosphere and evokes the excitement from children as well as other audiences. Soon after the fashion shows, the night continues with our little singers’ performance on the stage. Their innocence, talent along with professional behavior has brought applause, laughter of fathers, mothers in the jubilant atmosphere of the festival. Additionally, the interesting, traditional and spiritual lion dance has concluded the magical night.

The meaningful Mid-Autumn Festival of AASC 2015 event seems to bring people more closely to their family members and leave emotional feelings deep down in each of everyone’s heart.

Pictures at the event

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Chairman of Baard of Members of AASC made a speech at the Festival

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Professional fashion shows 

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AASC Mid-Autumn Festival 2015 ending

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Wednesday, 23 September 2015 14:20

AASC Cup 2015 Successfully Held

From 12/09 to 20/09/2015 in Ha Noi, AASC successfully held AASC Cup 2015 toward the 25th anniversary of establishment of AASC Auditing Firm Company Limited (13/5/1991-13/5/2015) and HLB International Conference in Viet Nam. Participants come from all Divisions/Units/Branches within the Company with enthusiastic spirit surrounded by warm and lively atmosphere around the fields.

AASC Cup 2015 shows the team spirit, selflessness, agility and sportsmanship, but also the aggressive of a football match; every team wants to prove that they are the best. The 2015 AASC Cup Final was contested by Project Audit Department and Audit Department 2 in a repeat of 201 2AASC Football League Cup Final, which the first team won. It did not disappoint the fans; the two rivals have devoted their full strength, stayed focus with exact passing, controlling the ball like a maestro. Audit Department No 2 scored first but the Project Department fought back and dragged the two teams into intense penalty shoot-outs. In the end, the champion of AASC Cup – Project Audit Department - won the trophy again along with excitement of the supporters all around the stadium. The Third Position Competition is fiercely matched when Audit Department No 5 and Audit Department No 1 seem to understand each other very well. The tournament also recognized the efforts of the Audit Department 3 and special factor coming from the Co-op between AASC’s Branch Ho Chi Minh City and the back office, which is the remarkable for this year's Cup.

Closing an exciting season, all leaders, auditors, auditor assistants and staffs of AASC always prepare for a new journey with confidence and believe that AASC will be a pioneer and maintain its the leading position of the independent auditing sector in Vietnam for over 25 years of growth and development.

Pictures at AASC Cup Final

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Deputy General Director of AASC Nguyen Thanh Tung talked at the Final match

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Intense Penalty shoot - out

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" Best International Player" award

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Champion of AASC Cup 2015 - Project Audit Department

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14. up up

Ban Tổng Giám đốc AASC

(ĐTCK) Với việc ký kết hàng loạt hiệp định thương mại tự do, Việt Nam đang hội nhập ngày càng sâu rộng với nền kinh tế thế giới. Theo ông Ngô Đức Đoàn, Chủ tịch HĐTV kiêm Tổng giám đốc Hãng Kiểm toán AASC,  song song với cơ hội thì DN dịch vụ kiểm toán trong nước cũng đối mặt với áp lực cạnh tranh lớn hơn. Để duy trì năng lực cạnh tranh, các doanh nghiệp kiểm toán Việt Nam cần phải chú trọng đầu tư, phát triển nguồn nhân lực.

Nền kinh tế Việt Nam đang hội nhập mạnh mẽ với thế giới thông qua việc ký kết một loạt hiệp định thương mại tự do, thực hiện nhiều cam kết hội nhập đã ký. Điều này dẫn đến những thay đổi như thế nào trong ngành kế toán, kiểm toán, thưa ông?

Việt Nam vừa ký kết hàng loạt hiệp định thương mại tự do (FTA) và dự kiến sẽ chính thức tham gia Cộng đồng Kinh tế ASEAN (AEC) vào cuối năm nay. Việt Nam cũng đang xúc tiến đàm phán để sớm ký Hiệp định Đối tác xuyên Thái Bình Dương (TPP).

Thực hiện các hiệp định thương mại tự do, cùng với dòng luân chuyển vốn đầu tư trực tiếp nước ngoài (FDI) đến Việt Nam sẽ tạo thêm nhiều việc làm trong nước, trong đó có lĩnh vực kế toán, kiểm toán. Cùng với đó, các cam kết về tự do di chuyển của người lao động trong khu vực ASEAN cũng mở ra nhiều cơ hội hành nghề ở các quốc gia khác trong khu vực cho các kiểm toán viên Việt Nam.

Tuy nhiên, song song với những thuận lợi, cơ hội, sẽ có không ít khó khăn, thách thức về yêu cầu chất lượng báo cáo tài chính và quản trị hoạt động minh bạch. Để duy trì năng lực cạnh tranh, các doanh nghiệp kiểm toán Việt Nam cần phải chú trọng đầu tư, phát triển nguồn nhân lực ít nhất là ngang bằng trình độ khu vực.

  NDD

 Ông Ngô Đức Đoàn

Cùng với sự phát triển của nền kinh tế, yêu cầu đặt ra với chất lượng báo cáo tài chính cũng như các thông tin về tài chính ngày càng cao. Theo ông, ngành dịch vụ kế toán, kiểm toán Việt Nam có những thuận lợi và khó khăn gì trong việc đáp ứng yêu cầu này?

Hệ thống chuẩn mực kiểm toán Việt Nam được ban hành năm 2013 theo hệ thống chuẩn mực kiểm toán quốc tế của Liên đoàn Kế toán quốc tế (IFAC).

Việt Nam đã ban hành Luật Kiểm toán độc lập năm 2011 và đang lấy ý kiến cho dự thảo Luật sửa đổi, bổ sung một số điều của Luật Kế toán để tạo tiền đề pháp lý cho sự hình thành hệ thống chuẩn mực kế toán theo các thông lệ của hệ thống chuẩn mực quốc tế.

Bộ Tài chính cũng đã ban hành chế độ kế toán doanh nghiệp có hiệu lực từ ngày 1/1/2015 để tạo điều kiện cho các doanh nghiệp làm quen với các thông lệ chung của hệ thống chuẩn mực kế toán quốc tế, tăng cường chất lượng báo cáo tài chính.

Song song với việc hoàn thiện hệ thống pháp lý, đội ngũ những người hành nghề kế toán, kiểm toán tại Việt Nam cũng đang phát triển về số lượng, chất lượng và ngày càng có nhiều người đã trở thành hội viên của các hiệp hội kế toán quốc tế chuyên nghiệp như ACCA, CPA Ausatralia, CIMA…

Ngoài những thuận lợi nói trên, ngành kế toán, kiểm toán Việt Nam cũng đứng trước nhiều khó khăn. Một số cơ quan quản lý nhà nước nói riêng, những cán bộ quản lý, một bộ phận lớn nhà đầu tư trong nước và người làm công tác kế toán, tài chính nói chung vẫn chưa nhận thức đầy đủ về tầm quan trọng và vai trò của công tác kế toán, cũng như trách nhiệm minh bạch báo cáo tài chính của doanh nghiệp. Theo đó, quá trình áp dụng những thông lệ chung của quốc tế sẽ mất nhiều thời gian và công sức.

Về phía các đơn vị cung cấp dịch vụ kế toán và kiểm toán, mặc dù đã có nhiều người hoàn thành các chứng chỉ quốc tế, nhưng số lượng này vẫn còn rất khiêm tốn so với nhu cầu chung của thị trường. Thêm vào đó, các nhân sự này hiện cũng đang chủ yếu làm việc cho các công ty đa quốc gia ở Việt Nam và một số doanh nghiệp kiểm toán lớn.

Yếu tố con người và quan điểm về doanh thu, lợi nhuận của doanh nghiệp kiểm toán đóng vai trò quan trọng trong chất lượng dịch vụ. Ông có nhận xét gì về thực tế hoạt động của các doanh nghiệp kiểm toán tại Việt Nam hiện nay?

Bộ Tài chính chủ trương quản lý và hỗ trợ các doanh nghiệp hướng tới mục tiêu phát triển bền vững, tăng trưởng hiệu quả và được kiểm soát hoạt động chặt chẽ. Tuy nhiên, nhiều doanh nghiệp nhỏ hiện nay thường chú trọng đến tăng trưởng doanh số, chưa tập trung thỏa đáng cho kiểm soát chất lượng dịch vụ, đào tạo chuyên môn và thiếu đầu tư về trình độ nguồn nhân lực.

Nhiều doanh nghiệp nhỏ cạnh tranh thông qua hạ giá phí dẫn đến việc thực hiện dịch vụ không đảm bảo chất lượng, ảnh hưởng chung tới ngành và hình ảnh của chính doanh nghiệp. Do vậy, đây sẽ là những thách thức và là bài toán lớn của doanh nghiệp kiểm toán trong tiến trình hội nhập.

Vậy bài toán chất lượng - lợi nhuận được giải quyết ra sao tại AASC?

Cùng với nỗ lực thực hiện cam kết về chất lượng dịch vụ phù hợp với quy định và thông lệ chung của các nước trong khu vực và trên thế giới, AASC luôn chú trọng đầu tư về nhân sự, hiện đại hóa và chuyên nghiệp hóa dịch vụ chuyên ngành. Điều này giúp chúng tôi tăng cường chất lượng dịch vụ và hiệu quả hoạt động, đồng thời nâng cao sức cạnh tranh trên thị trường.

Chúng tôi luôn thấu hiểu rằng, thành công lớn nhất của AASC là gây dựng, củng cố được niềm tin của các khách hàng. Niềm tin ấy được xây dựng từ nền tảng văn hóa trung thực - uy tín - minh bạch, hun đúc qua nhiều thế hệ và được kế thừa, phát huy trong mỗi hành động và suy nghĩ của mỗi thành viên AASC.

Để có thể chủ động tận dụng cơ hội và đối phó với thách thức từ hội nhập mang lại, AASC đã có sự chuẩn bị như thế nào?

AASC đã nhận thức, hưởng ứng tích cực và tham gia có trách nhiệm, hiệu quả với tư cách là thành viên của HLB Quốc tế - mạng lưới kế toán và tư vấn quản trị chuyên nghiệp để tiếp nhận kỹ thuật, kinh nghiệm nhằm đáp ứng cho hội nhập.

Chúng tôi luôn khuyến khích và tạo điều kiện cho nhân sự giành được các chứng chỉ nghề nghiệp quốc tế như ACA, ACCA, CPA Úc, CPA Mỹ, CIA, CIMA... Hiện tại, AASC có 10 chuyên gia có chứng chỉ quốc tế, 1 chuyên gia Nhật Bản và có 39 nhân viên sắp hoàn thành các chứng chỉ quốc tế nêu trên.

Bên cạnh đó, AASC ưu tiên tuyển dụng nhân sự đã có chứng chỉ quốc tế và những chuyên gia có nhiều năm làm việc tại các công ty kiểm toán Big 4. Đến nay, chúng tôi đã đầu tư nhân sự cao cấp ở nhiều khối dịch vụ, tuyển dụng các nhân sự nước ngoài phụ trách khối khách hàng nước ngoài.

AASC cũng đang hoàn tất thử nghiệm ứng dụng phần mềm quản lý, phần mềm kiểm toán tiên tiến để đảm bảo chất lượng và hiệu quả cung cấp dịch vụ.

AASC đã gần trải qua 25 năm hoạt động, bản thân ông cũng là người có nhiều tâm huyết và trăn trở với nghề. Ông có thể chia sẻ mục tiêu mà AASC hướng đến trong dài hạn?

AASC là một trong hai doanh nghiệp kế toán, kiểm toán được thành lập đầu tiên của Việt Nam. Qua gần một phần tư thế kỷ, mặc dù gặp nhiều khó khăn, thách thức, nhưng AASC liên tục phát triển và duy trì sự tăng trưởng bền vững.

Theo xếp hạng của Bộ Tài chính, Hội Kiểm toán viên hành nghề Việt Nam (VACPA), AASC cùng 4 công ty kiểm toán Big 4 đang hoạt động tại Việt Nam có doanh thu, khách hàng và đội ngũ kiểm toán viên lớn nhất thị trường.

Chúng tôi luôn chú trọng vào việc phát triển nguồn nhân lực chất lượng cao, đào tạo và tăng cường chuyên môn cũng như tạo ra một môi trường làm việc năng động, chuyên nghiệp và văn hóa.

Trong kế hoạch thực hiện “Chiến lược kế toán - kiểm toán đến năm 2020, tầm nhìn 2030” đã được Thủ tướng Chính phủ phê duyệt, Bộ Tài chính đưa ra “Đề án xây dựng 2 doanh nghiệp kiểm toán Việt Nam từng bước phát triển ngang tầm Big4 vào năm 2020”, trong đó, Hãng Kiểm toán AASC và Công ty Kiểm toán A&C là hai doanh nghiệp được vinh dự lựa chọn hiện thực hóa chiến lược này.

Là một trong số ít cán bộ đầu tiên được Bộ Tài chính giao nhiệm vụ triển khai thực hiện các dịch vụ kế toán, kiểm toán và tư vấn tài chính, thuế…, tôi tin tưởng rằng, trong tương lai, AASC tiếp tục vững bước và sẽ luôn là doanh nghiệp dẫn đầu, từng bước phát triển ngang tầm với các công ty kiểm toán Big4 hoạt động tại Việt Nam.

Nguồn:tinnhanhchungkhoan.vn

High demand leading to export turnover from this product category of Vietnam to America rising nearly 13% in comparison with the same period last year.

According to General Department of Customs, in the first 7 months of this year, turnover from exporting cuttle fish and optopus reached USD 2.566 million, which increased by 12.6% in comparison with the same period of 2014. USA accounted for 1.2% of total Vietnam exported cuttle fish and octopus revenue.

The reason of this significantly growth is that America was pushing up importing activities.

According to GATS (Global Agriculture Trade System), in the first 4 months this year, America imported 7.812 tons of octopuses which cost over 41.9 million USD with an average cost of 5.31 USD per kg, rised by 76% of weight and 78% of value in comparison with the same period in 2014.

Spain and Indonesia are the top countries which export octopuses to America. Meanwhile, China, India and Thailand are the main countries which export cuttle fish.

Source: vnexpress newspaper

Japan-based outsourcing Transcosmos has acquired 30 percent of Vietnamese daily deals site Hotdeal.

This belongs to Transcomos‘s extension plan in ASEAN. “I strongly believe that the strategic tie-up with transcosmos would be a breakthrough for Hotdeal.vn in improving our quality of services, and to strengthen business expansion in Vietnam and the South East Asia’s fastest-growing market” Mr. Nguyen Thanh An, CEO and founder of Hotdeal said.

He also optimizes that the cooperation will promote Hotdeal to larger markets – where international brands are involved. Established at the end of 2010, Hotdeal claims to operate the largest daily deals site in Vietnam, with 3.1 million unique monthly users and about 2.5 million members.  It also owns travel site yesgo.vn.

Transcosmos, launched in 1966, has had presence in 34 countries around the world by offering its e-commerce service to deliver products and services of client companies. In 2014-2015 it recorded revenue of $1.68 billion and profit of $62 million.

Source: vnexpress

The statistics show that the growth rate of retail sales in the first 7 months of 2015 compared to the same period last year had several highlights as follows:

Excluding the increase of the average price index (up to 0.86%), the total retail sales in the first 7 months of this year rose nearly 9%, which is the highest increase compared to the same period in the last 4 years.

Total retail sales of goods and services revenue are the key component of final comsumption (accounted for 90%), where final consumption is the largest proportion (70%) of GDP. Therefore, the total retail sales are one of the driving forces of production and also a prerequisite to improve the consumers’ living standards.

07 highlights of the growth rate of retail sales in the first 7 months of 2015 as follows

Firstly, the growth rate increased again. Excluding the increase of the average price index (up to 0.86%), the total retail sales in the first 7 months of this year rose nearly 9%, the highest increase compared to the same period in the last 4 years.

Secondly, the increase in the retail sales in the first 7 months plus the impacts in the coming time are a positive signal for the whole year growth rate to exceed 9.5%, almost double the annual growth of period 2011-2014.

Thirdly, the coefficient between the retail sales growth rate and GDP growth rate increased over the years (from 0.74 in 2011, 0.82 in 2012 to 1.05 in 2013 and 2014, 2011-2014 average is 0.91 to 1.5 in the first 7 months of 2015).

Fourth, there has been a remarkable shift in economic sector. Total retail of private sector accounted for the largest proportion of total retail sales (85.6%) and increased significantly. The public sector accounted for 11.1% of total retail sales with the highest increase (14.1%).

Retail sales of FDI sector, though accounted for a small proportion of total retail sales (3.3%), has experienced a gradual increase in the coming time when FTAs come into force…  

 Fifth, there has been a shift in services sector. Goods retail sector (purely commercial) accounted for the largest proportion of total retail sales (75.9%). Accommodation service industry, outdoor dining saw a higher increase (11.7%), but still grew at a low speed (7.2%).

 Other services accounted for larger proportion (11.5%) with a high speed (9.8%) according to the increase in the income and purchasing power of middle class. This is the general trend of countries shifting from lower income to higher income.

Sixth, total retail sales increased due to an increase in total final consumption. Growth rate of final consumption in the first 6 months of 2015 grew up to 8.7%, contributing 7.74 percentage points to GDP growth - accounting for 77.5% of total contributions accrued and final consumption.

Last but not least, the increase in retail sales impacted positively on consumer lives, reducing the inventory, increasing consumption and production – business and economic growth.

Although total retail sales increased again but due to the growing scale in consumption, aggregate demand remained low. Weak aggregate demand is a negative factor for the production – sales. This may explains why in the first 6 months of this year, CPI increased slowly.

Therefore, in addition to promoting investment, increasing exports we should increase income to increase domestic consumption to boost aggregate demand, contributing to the goals of economic growth.

BBT 

Thursday, 03 September 2015 09:01

CMC Telecom sells 25% share to foreign partner

TIMT dotcom Berhad, Malaysia officially giant snap up 25% shares in CMC telecom.

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Strategic investment agreement signing ceremony between CMC Telecom and TIME dotCom Berhad

The strategic investment signing agreement between CMC Telecom and TIME dotcom Berhad with total amount of $12 Million was just made, representing the first foreign ownership in the Vietnam Telecom Industry.

“We recognizes the potential growth in Vietnam, and may expand the investment” said Afzal Abdul Rahim, general director of TIME in making the announcement.

As TIME representative, CMC Telecom has a record of strong and stable growth in line with TIME’s corporate strategy.

Under the terms of agreements, both companies will support each other in developing their technology and services, especially connecting the international telecom infrastructure, creating opportunity for both companies to develop domestic and international customers.

Meanwhile, Nguyen Trung Chinh, CMC Corp CEO said: “seeking a foreign strategic partner has been in our agenda and this make CMC Telecom one of the leading telecom infrastructure firms in the region”.

Source: vneconomy

Since beginning of 2014, the Tax sector has dropped hundreds of hours cutting long procedures, thereby saving costs for businesses.

According to General Department of Taxation, until end of June, total hours spent for tax payments by a Vietnamese business had been reduced to 117 hours after the Department removed hundreds of procedures.

Earlier, according to World Bank’s report, total hours spent by a business for paying taxes in 2013 were up to 872 hours. Total hours spent for tax payments in Vietnam stand at the highest level in comparison with other countries in the region. Therefore, the Prime Minister has issued Resolution No. 19 on improving the business environment, which requires the tax sector to shorten the time enterprises for paying taxes to 121.5 hours.

According to Mrs. Hoang Thi Lan Anh – Deputy head of the General Department of Taxation’s Reform and Modernization Department, the reform of administrative procedures for taxation in 2014 will be recorded in the evaluation report of World Bank in 2016- 2017 due to the delay in their calculations. "However, Vietnam businesses have applied the policy of cutting time for tax payment since 2014”, she said.

Accordingly, only in year 2014, the tax authority has helped businesses reducing the time of 370 hours for paying taxes after removing procedures such as: Removing the list of invoices on selling and buying goods and services, cutting off unnecessary information in declaration of VAT, cutting off items of turnover and expenses having temporary differences between the accounting and tax.

Beside of removing series of procedues as mentioned above, the tax authority has issued Circular No. 92 and Circular No. 96 prevailing new tax policies for business householders. Therefore, to prevent purchasing invoice, since 2016 the business householders must not only pay their fixed turnover but declare and pay tax quarterly. Beside that, the tax sector will publish information of 200 householders operating in the same location or business sector as a solution for cross – controlling each other.

According to Mrs. Ta Thi Phuong Lan – Deputy Head of Personal income tax Department, the new tax policies applied for the business household do not aim to increase the state budget. Total tax amount collected from their accounts are not up to 2% of total state budget. Therefore, the issuance of these new policies aims to bring transparency to the tax collection for the business household and facilitate the tax payers.

Source: vnexpress

On August 6, 2015, Deputy Minister - Do Hoang Anh Tuan had a meeting with Mr. Isshu Sugawara- Secretary of State of the Japanese Ministry of Finance to promote the financial cooperation between Vietnam - Japan 

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Both parties look back the strong development in political, economic and financial relationship between Vietnam - Japan in recent years. The highlighed points in field of economic and finance include: investment and trading growing continously, two-way trade turnover reached $27.8 billion in 2014; accumulated FDI of Japan into Vietnam reached $34.6 billion by the end of March, 2015. Japan always is the largest ODA bilateral donors of Vietnam, with total commitment reached nearly $23 billion up to now.  

The partnership between the two Ministries of Finance also continuously develops in several aspects such as: double taxation avoidance agreements, cooperation and technical support agreement on customs…

Specifically, both parties emphasized the importance of modernizing the work of tax and customs to facilitate the trade, investment, business and enhance competitiveness. It is one of the most important tasks and solutions in order to help the finance sector of Vietnam accomplish the assignments as set out in Government’s Resolution No.19/NQ-CP 2015.

In this respect, Vietnam Automated Cargo and Port Consolidated System project (VNACCS/VCIS project), which was supported by Japanese Ministry of Finance in 3 years, from 2012 to 2014, brought practical benefits to customs and business community in Vietnam. In fact, the system has been completed and came into operation since April, 2014; so far the system has been working stablely nationwide with clearance for 98% of imports and exports. Both parties will continue to consolidate the results achieved through strengthening the operational efficiency of this system and, at the same time, will consider the possibility of supplementing and improving the system VNACCS/VCIS in the future to cater the demands of Vietnam.

Regarding to the field of tax administration, technical support activities for Vietnam have been bringing specific efficiencies; Vietnam Tax Authority also has achieved a certain progress in terms of modernization through IT applications. However, there are several requirements and challenges such as rationalizing processes, selecting technology, engineering, etc. This field would be promoted further in the future.

At the end of the meeting, the leaders of Misnistry of Finance of Vietnam and Japan jointly reaffirmed their commitment to strengthen and maintain the relationship between the two countries.

 Source: Ministry of Finance web portal


 

Thursday, 03 September 2015 08:44

FDI funds rose by 7.6%

In the past 8 months, estimately, FDI projects were disbursed $8.5 billion, increasing by 7.6% in comparison with the same period of 2014.

According to Foreign Investment Agency (Ministry of Planning and Investment), in 8 months of  the year 2015, total new FDI rgistered capital is $13.33 billion, increasing by 30.4% compared with the same period of 2014.

Specifically, there are 1,219 new projects granted investment certificates with total registered capital of $7.87 billion, increasing by 8.7% against the same period in 2014. In which, there are 389 projects registered to increase capital with total registered additional capital is 5.46 billion USD, increasing up to 82.8% compared with the same period in 2014.

In the past 8 months, foreign investors have invested into 17 sectors. In which, manufacturing and processing industries are sectors attracting the most interest with total newly registered and additional capital of $10.35 billion, accounting for 77.7% of total registered capital.

The second rank is the real estate sector with total investment newly registered and additional capital of $1.82 billion, accounting for 13.7% of total investment capital.

Next, the wholesale, retail and repair market with total newly registered and additional capital of $311.08 million.

Korean is a leading country on FDI capital in 8 months of year 2015 in Vietnam, with an amount of $5.26 billion, accounting for 39.5% of total investment in Vietnam.

The 2nd position is England with total registered capital of $1.25 billion, accounting for 9.39% of the total investment. In addition, British Virgin Islands ranks the 3rd position and reaches $973.6 million, accounting for 7.3% of the total investment.

In Bac Ninh, total investment of newly registered and additional capital are of $3.33 billion, representing 25% of total registered capital. The 2ndposition is Ho Chi Minh City with total newly registered and additional capital of $2.42 billion, accounting for 18.2%.

Especially, Dong Thap and Bac Lieu do not receive any FDI fund.

Several major projects were licensed in May 8, 2015 such as: Samsung Display Company Vietnam project (in Yen Phong Industrial Zone 1, Bac Ninh) with an increase in investment capital of $3 billion. This project was licensed in 2014 with the initial capital of $1 billion with the purpose of production, assembly, processing, marketing or sale of monitors.

De Vuong Joint Venture Company Ltd (invested in Ho Chi Minh City) with total investment capital of $1.2 billion implemented by Tien Phuoc real estate JSC and Tran Thai real estate Co. Ltd. Joining with the UK-based Denver Power Ltd.

Turkish investor has invested $660 million in Dong Nai Hyosung Co., Ltd project in Dong Nai Industrial Zone with the aim of producing and processing the fibers.

British Virgin Islands investor has invested $300 million in Worldon Co. Project (Vietnam) in Ho Chi Minh City with the goal of producing luxury garment products.

Source: VGP news

On August 25, Deputy Minister- Mr. Nguyen Nhat had a meeting with Leader of GMR Group (India) at headquarter of the Ministry of Transport relating to the aviation sector.

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Deputy Minister - Mr. Nguyen Nhat had a meeting with Leader of GMR Group (India)

At the meeting, Mr. Monamay Rai - Head of commercial development department-GMR Group has introduced the scale and operating fields of the Group; also he would like to express his willing to look for investment opportunities in Vietnam, especially in the field of aviation.

Deputy Minister, Mr.Nguyen Nhat made a speech to welcome the Leader of GMR Group, he said: In the past 5 years, despite Vietnam's economy was strongly affected by the global economic crisis, but Aviation sector still maintained the average growth rate of 14% in terms of passengers and 16-17% of cargo. In 2014, Vietnamese air transport market reached 33.15 million passengers and 741 thousand tons of cargo. According to the International Air Transport Association, Vietnamese aviation sector growth rate ranks the 3rd world.

Regarding the exploiting operation, currently there are 53 foreign airlines belonging to 25 countries is exploiting air routes to Vietnam. The airline firms consist of more than 100 airplanes, in which there are 3 airline firms of Vietnam: Vietnam Airlines, Vietjet Air and Jestar Pacific are exploiting 56 international air routes to 17 countries and territories around the world. At present, there are 22 airports in Vietnam operating in civil aviation with 8 international airports. 

 “To meet the growing demand of the Aviation industry, we are calling for investment in upgrading synchronization and modernization of the available international airports to such as construction projects of Quang Ninh Airport, Chu Lai Airport and Cam Ranh Airport and expanding project of Tan Son Nhat international Airport,.... In particular, Vietnam National Assembly has adopted the policy of building the new Long Thanh international airport with a total capacity of 100 million passengers and 5 million tons of cargo per year when it completed and put into operation”, Deputy Minister emphasised.

 “Growing demand for infrastructure of aviation, airport and urban railways in Vietnam is very huge. The Minister of Transport welcomes and will create the most favorable conditions for foreign businesses to invest in the transport infrastructure projects", the Deputy Minister said.

The Deputy Minister suggested GMR Group to work directly with Civil Aviation Authority of Vietnam and Vietnam Arlines Corporation as well as other relevant units to obtain specific information about projects in the aviation field and expected GMR Group joining in these projects soon. 

Source: http://www.mt.gov.vn/vn/Pages/Trangchu.aspx

Towards the anniversary of Independence Day September 2, a short-term loan program for domestic currency with a preferential interest rate for businesses will be performed from August 21 to December 31, 2015 by Agribank.

This bank has provided credit package worth of VND 20,000 billion to server a loan program for the traditional and potential enterprise customers who meet the following requirements: The loans of business need to satisfy lending conditions under the current regulations; Credit level of business is at least 30 billion dongs (if lending under credit limit, outstanding balance must reach 90% credit limit), and there is priority for the traditional customers, who have a credit relationship with Agribank. The maximum annual interest rate is 5.5 %.

The aim of this program is financing short-term working capital for businesses' production and business projects and providing mid-term as well as long-term loans for implementing investment projects. Therefore, the customers receiving preferential interest rate on the occasion of Independence Day are required to not settle the debt before deadline on the existing loans without the consent of Agribank; In addition, customers are required to transfer their income and loan plan through their accounts opened in the branch at least equivalent to outstanding loan balance ratio of such branch; Simultaneously, enhancing the cross-selling other services of Agribank such as deposits, international settlements, foreign currency trading and other services.

Source: http://baocongthuong.com.vn/

Tuesday, 01 September 2015 11:17

Cutting up to 50% service fees for intra-group

With M-Business program, enterprises save up to 15% on the total of cost used. Each subscriber is free up to 150 SMS on-net MobiFone.

Applying for enterprises and organizations with 5 postpaid subscribers upwards, M-Business policy provides ssubscribers with preferential prices, supports corporate governance with advance solutions. Joining M-Business, enterprises and organizations will be reduced 50% inter-group call charge compared with the normal on-net charge of MobiFone.

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Telecommunication demand of corporate customers is increasing.

MobiFone also offer an usage cycle with an amount of VND 300,000 to VND 500,000 for only selected enterprises when joining M-Business program. In addition, MobiFone has a special program applied for “Member of Loyalty Program” with many incentives. When registering M-Business, subscribers will become a Gold member or Diamond member.

 

 

Engaged subscribers will be maintained quick and stable Internet connection, other utility services such as the missed call notification MCA, free data packets MIU and MCA30 in the first cycle for new subscribers to experience. Moreover, MobiFone also has invested in providing internal corporate messaging service-eOne SMS, which is free for the phone number registered in M-Business and not limited number of subscribers. Besides, MobiFone has build and provided separate packages under specialized demand of big enterprises.

Source: vnexpress

The Authority announces that they only accept the charges, surcharges which are published on the Maritime Department’s website.

The Ministry of Transport is collecting opinions on maritime transport charges, port service tariff which is stated in the Draft Decision of the Prime Minister. The solution is given to solve inadequacies of foreign ship-owners freely collecting manykinds of surcharges that cause damage to the export-import enterprises

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According to the Draft, enterprises in the field of maritime and port transport shall be announced their container transport cost tariff and service charge tariff of seaports and inland wharves. This information must be available on the enterprises and the Vietnam Maritime Department’s website and takes effect from the day when enterprise publishes. In case of increasing charges and surcharges, the validity is applied after 30 days since the announcement date.

According to the Ministry of Transport, currently foreign ship-owners operating in Vietnam are freely collecting many kinds of surcharges without register such as surcharges of container service, container cleaning,...

With about 40 foreign shipping firms operating and holding about 88% of export and import quantity, thus the collection of extra charges from ship-owners makes the enterprises meet many difficulties.

 “This is a huge cost that impacts on business performance for the export-import sector of Vietnam and damages to the whole economy", the Ministry of Transport said.

According to the Maritime Department, Vietnamese cargo owners are paying for many kinds of surcharges, which are not clearly defined in the shipping contract. It leads to inadequacies as there is no consensus between the shipping firms and the cargo owners or surcharges are imposed by ship-owners. These shipping firms also have not announced their surcharges earlier, not published components or elements of charging,...

Meanwhile, until now there are no legal documents providing for the management, supervising and monitoring for collecting charges, surcharges and port service costs of shipping firms in general and foreign shipping firms in particular. Therefore, the Ministry of Transport need to solve the inadequacies mentioned above, the issuance of regulations on disclosure of the charge tariff is necessary.

Source: vnexpress 

Tuesday, 01 September 2015 10:43

FDI Investment in Garment industry

In seven months of year 2015, the Garment sector ranks the second in attracting capital and foreign direct investment (FDI) with more than $1.12 billion, equivalent to 20% of total capital.

According to the Foreign Investment Agency, Ministry of Planning and Investment, in total capital of $5.85 billion invested in seven months of year 2015, the garment accounts for more than $1 billion with three major projects. The first project is fiber manufacturing factory project of Turkish investor, which was built in Dong Nai Province with total investment capital up to $660million, highest ever.

The next is project of producing industrial products to support the garment sector invested in Binh Duong with investment capital of $274 million of Polytex Far Eastern Ltd. Company (Taiwan). The last is project of Lu Thai –colored fiber plant with total investment of $160.8 million of Hong Kong investor in Tay Ninh province.

The opportunities and strengths of this sector have been increasing leading to Vietnam’s garment sector attracted more capital from FDI investment in recent years.

Vietnam is engaged in duty free playground with many countries in the world, in which there are 8 free trade agreements with most major countries such as USA, Japan, Korea, EU.. These are main garment export markets of Vietnam.

According to the Department of Trade Promotion and Ministry of Industry and Trade, export turnover of Vietnam’s garment to the EU without Free Trade Agreement (FTA) gained only about $300 million/year. However, since Vietnam-EU Free Trade Agreement takes effect, export turnover will grow about 50% in the first year and 20% in subsequent years.

Furthermore, if Trans-Pacific Strategic Economic Partnership Agreement (TPP) is adopted, Vietnam garment’s products exporting to US and EU will be deducted to 0% tax that leads to greater competitive advantage.

In general, with number of advantages gained from the Free Trade Agreements, Vietnam is becoming a potential ground for foreign garment companies investing to.

Source: http://news.chinhphu.vn/

 

The State Bank of Vietnam increased exchange rate by 1% and expands exchange rate band to 1% on August 19. Commenting on this, Mr. Pham Hong Hai-General Director of HSBC Vietnam said that this action reduces pressure of selling reserve foreign currency to the market, simultaneously; he advises enterprises should not trade the US dollar.

According to Mr. Hai, the State Bank of Vietnam expands USD/VND exchange rate band on August 12, 2015, immediately after the adjustment of USD/CNY exchange rate from China is a quick move and is a first-time-ever action happens in Vietnam. That signal proves the State Bank of Vietnam is capable of handling challenges and considered as an essential step to stabilize the market. 

This adjustment contributes to reducing the pressure of selling reserve foreign currency to the market, which is not a sustainable step if continue.

Mr. Hai also mentioned that if enterprises purchase the USD under fluctuation, it would create unfavorably condition to the market place. Usually, after the unstable period, the market would set up a new equilibrium. His suggests enterprises should mentally stay focus and actively manage exchange rate risk instead of counting on exchange rate protections from State Bank of Vietnam.

In fact, this fluctuation indicates that unexpected changes on the world market will affect Vietnam market. In the future, China may cut interest rate, FED increases interest rate, and thus pushing RMB continues to depreciate. Due to this result, Vietnam should have flexible adjustments.

Therefore, as soon as the market stabilizes, enterprises should adopt risk management policies in order to avoid unexpected fluctuations of market in the future.

Besides, Vietnam still competes with China from commodity types to export market. In the long-term, we should invest in quality, thereby improving competitive advantage and status of Vietnam goods.

 Source: Vietnam Investment Review 

On August 19, 2015, the State Bank of Vietnam has decided to adjust exchange rate USD/VND. Accordingly, the average inter-bank VND/USD exchange rate increases from 21.673 to 21.890 (by +1%), at the same time, the exchange rate go up from +/-2% to +/-3%.

After the decision of expanding USA/VND exchange rate to +/-2%, Vietnam has been facing depreciation of VND against USD on average in the region since beginning of the year.

Overall, we think that the adjustment of exchange rate and increasing USD/VND exchange rate is an appropriate step to minimize the impact of devaluation of Chinese Yuan (CNY) to domestic economy.

The expansion and adjustment of exchange rate will benefit export corporates. However, depending on the monetary policy of China and the flexibility in political management of Vietnam, there are certain influences on sectors as well as domestic manufacturing companies.

According to the General Statistics Office of Vietnam, the most exporting items are computers, electronic products and components, textile, footwear, agricultural, forestry and aquatic products. The listed companies mainly focuson exporting likeTCM, KMR, GTN, VHC, HVG, TTF, GDT could benefit from the adjustment of USD/VND exchange rate.

However, many enterprises, which have huge foreign currency loans as VOS, VNA, PVT, NT2 may be affected negatively. Some enterprises, which borrow and generate income in foreign currency, will not be affected significantly when USD/VND exchange rate is adjusted as PVD.

Especially, there are various risks to the shipping industry in which debt ratio is high, and potentially affected by the devaluation of VND due to loan borrowing in foreign currencies (mainly USD). On average, the shipping industry with debt/equity ratio stands at 0.87 while other companies are up to 3.7.

Source: Vietnam Investment Review 

On July 21, 2015, and July 24, 2015, AASC Auditing Firm Company Limited in cooperation with CPA Viet Nam held a seminar “Guidance on the implementation of Circular No 200/2014/TT-BTC” for FDI entities operating in Vietnam.

There were more than 70 typical firms came to the event  such as: Kobelco Compressor Vietnam Limited Company; Euro window Vietnam Limited Company, English Council, MSIG Insurance Viet Nam Limited Company, Language Link, Lock n Lock Vietnam Limited Company;  Đông Anh Hyundai Steel Limited Company, etc. The program not only introduced the important changes in the Circular, but also provided some suggestions and guidance on preparing financial report. At this Seminar, AASC’s experts spent time to address the problems and supported FDI entities how to achieve high performance.

AASC’s deputy director, Mr. Do Manh Cuong said:”AASC Auditing Firm Company Limited is one of the first two Vietnamese legal organizations operating in the field of auditing, accounting, financial and tax consultancy. Currently, AASC Auditing Firm is regarding as the first and the leading provider of professional services among Vietnam auditing firms in the field of annual revenue and number of auditors. With professional auditors in auditing FDI firm fields, AASC believes that it is always an organization, which brings the trust and creates the value services aims to help companies in enhancing effective financing management and improving stable business in Vietnam”.

On July 13 2015, Ministry of Finance trade union organised a sporting event to celebrate the 70th anniversary of Vietnam finance sector (28/08/1945-28/08/2015) at the stadium in Cau Giay District. The tournament takes place over 4 days from July 13 -14, 2015; and from July 20-21, 2015. It gathered more than 400 amateur athletes, who coming from 36 units of the Ministry, the General Department, Enterprises under the Ministry of Finance and the Hanoi Department’s Finance agency such as: Finance Department, Tax Department, Customs Department, the State Treasury, the State reserve Bureau, AASC Auditing Firm, etc. They played in 3 sets subjects including table tennis, badminton, tennis. The Vice Minister-president of the Trade Union of Finance, Vu Thi Mai attended and spoke at the opening ceremony.

Even during the period of semi-annual audit, but AASC Auditing Firm had responded positively and created favorable conditions for the athletes participating with the spirit of exchange of learning, physical exercise as well as desire for enhancing the alignment with other units. The company’s athletes delegation consists of 6 members competed in 4 categories of competition under the table tennis and badminton.

End of tournament, auditor assistant, Pham Ngoc Ha (auditor assistant of Audit Department 5) had won the second prize of the badminton men’s singles, and Ms.Tran Thi Mai Huong (Audit Department 5) won the third prize of the table tennis women’s singles. These proudly results became the premise and motivation for AASC  to accomplish more in the future.

Photos of the event

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Vice Minister - President of Trade Union of Ministry of Finance - Vu Thi Mai spoke at the event

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 President of Trade Union gave flowers to AASC's athletes

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Pham Ngoc Ha won the second prize of Badminton men singles

BBT

 

 

 

From June 22 to July 4, 2015, the Quality Control and Training Department and the General Department had organized successfully training course for 94 new staffs of AASC Auditing Firm in 2015.

During two weeks of training, all the participants had studied hard, improved professional knowledge and learned practical experience from company’s excellence lecturers. Finish training program, the practitioners had been enrich the basic requirements as to work in a professional environment as well as the knowledge and skills needed to be able to directly involve in the audit engagement.

At the closing ceremony, Mr.Ngo Duc Doan - General Director of AASC Auditing Firm congratulated and commended new staff with high achievement and encouraged some to improve their engagements. Besides, he assigned unit leaders continue to guide and mentor the new staffs of AASC in implementing and completing the required assignments. Moreover, Chairman of the Board of Members of AASC stress the importance of constantly learning, improving professional skills, cultivating professional ethics, sense of discipline and stable mentallity towards performing and accomplishing all the entrusted tasks.

On behalf of all new employees, auditor assistant, Mr.Tong Van Son expressed his gradtitute as a member of AASC, and said thanks to the company’s Board of Directors in organizing useful training course for the new staffs while committing to contribute to further development of the company. Another auditor assistant, Mr.Dam Tuan Anh, a new employee of AASC in Ho Chi Minh shows his delight when joining in the company’s training course. Along with the opportunity to learn, exchange of expertise, he had been involved inextracurricular activities, towards increasing the solidarity and friendship with students in Hanoi and Quang Ninh branch.

AASC hope and trust that all new commers will become excellent auditors, who devote their efforts to the overall success of AASC.

Pictures at the training class

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Ngo Duc Doan - General Director of AASC - spoke at the training course

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Tong Van Son - new employee - expressed his feeling at the ceremony

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The issuance of Circular No. 200/2014/TT-BTC dated 22 December 2014 by the Ministry of Finance (Circular 200), including many important changes in terms of its concepts and methods, is now the top concern of accountants in enterprises generally and FDI entities particularly.

To meet this demand, AASC Limited in cooperation with the CPA Australia Hanoi Office is organizing a Free Conference on "Guidelines for accounting policies for enterprises under Circular No. 200/2014/TT-BTC" targeted the FDI entities in Hanoi and surrounding provinces.

The conference will introduce comprehensively the important changes of the new accounting system, especially our focus on the common concerns of the FDI’s. At the Conference, our speakers will save more time for the Q&A section to share the day-to-day issues and situations relevant to FDI entities in order to address some of your difficulties in complying with requirements of the new accounting policy.

The Conference will be provided by the AASC’s experienced experts who are familiar with financial/accounting activities of FDI entities. Therefore, the requirements of Circular 200 will be delivered by the practical, understandable manner through illustrative examples toward the useful benefits for accountants in FDI entities.

Registration

We will have 02 conferences in Hanoi detailed as follows:

Time:                     From 7:45 to 12:30 AM on 21.7.2015 or 24.7.2015

Location:              CPA Australia Hanoi Office

Room 1201A, 12th Floor, Tower A, Handi Resco Building, 521 Kim Ma, Hanoi

Language:            Vietnamese

Each conference will be for about 80 participants.

Registration deadline is 12.7.2015 under first come first serve.

Conference Program and Speaker Bio can be found here.

All detailed information, please contact the representative of the Organizing Committee:

Mrs. Nguyen Hoang Lan - Business Development Manager – AASC Ltd.

(04) 3824 1990 (ext 101) | This email address is being protected from spambots. You need JavaScript enabled to view it.

On 18/06/2015, at the headquarter of AASC Auditing Firm, General Director and the Board of Directors of AASC had a meeting with Vietnam Television-Business Finance Newsletter Category aims to celebrate the 90th anniversary of the Vietnam Revolutionary Press Day (21/06/1925 - 21/06/2015). This towards the 25th anniversary of establishment of Vietnam Independent Audit Sector, as well as AASC Auditing Firm Company Limited (was known for Auditing and Accounting Financial Consultancy Services Limited Company (13/05/1991 - 13/05/2016). The meeting is about the legal concerns regarding the amendments on Vietnamese Accounting Law, as well as the preparing content which aims to mark this remarkable milestone.  Also at this event, the General Director of AASC Auditing Firm gave flowers and honored journalists who work for Vietnam Television, who had dedicated strength for Vietnam Television industry, Vietnam Independent Audit Profession and AASC Auditing Firm.

Picture at the meeting

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General Director of AASC gave flowers to Vietnam Television Journalist

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Thursday, 18 June 2015 16:12

The Circular No.200/2014/TT-BTC

Download attached file: Circular No 200/2014-BTC

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