Nguyen Hoang Phan Long

Nguyen Hoang Phan Long

On February 18, in Hochiminh city, General Department of Land Administration (Ministry of Natural Resource and Environment) and Asian Commercial Bank organized meeting and collected the comments on Decrees detailing Land Law 2013.

On 11 February 2014, Circular No. 06/2014/TT-BCT was officially issued by the Ministry of Trade and Industry which regulates on imports based on tariff quotas in 2014 at the rate of 0% import duty for goods originating from Laos.

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Enterprises enjoy import tax of 0% for goods importing from Lao

Accordingly, applying import tariff quotas 2014 for two categories of goods with the origin of Laos which include: paddy, rice of all kinds, tobacco leaves and leaves originating from Laos will be eligible for 0 % tax rate in quota conditions.

To be eligible to 0% tax rate, (1) Imported goods must have the certificate of origin form S (C/O Form S) issued by Lao People’s Democratic Republic, and are cleared through custom gates regulated in Annex attached in this Circular; enterprise must be Vietnamese who is allowed to import paddy and rice of all kinds as quota and (2). For leaves and tobacco leaves, only Vietnamese traders who have the certificate of importing leaves as materials following the importing quotas issued by the Ministry of Industry and Trade are allowed to import.

This circular takes effect on February 11, 2014.

On 27 January 2014, Ministry of Industry and Trade officially issued Circular No. 05/2014/TT-BCT to fulfill the requirements of temporary import for re-export, temporary export for re-import, border gate transfer of goods of Decree No. 187/2013/NĐ-CP issued by the Prime Minister on 20 November 2014.

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This Circular replaces Circular No. 05/2013/TT-BCT dated February 02, 2013 guiding import for re-export, temporary  export for re-import activities and Circular 04/2006/TT-BTM dated April 06, 2006 detailing border gate activities issued by Ministry of Industry and Trade

The Circular details the list of goods banned business in temporary import for re-export and border-gate transfer, list of goods temporarily suspended from business in temporary import for re-export and border-gate transfer, list of goods permitted the conditional business in temporary import for re-export (including frozen foods, goods applied Special Consumption Tax and used goods banned export, temporarily suspended from export, banded import, temporarily suspended)

Enterprises trading in temporary import for re-export of frozen foods must be established at least 2 (two) years, have activities of goods export, import or temporary import for re-export and pay a deposit of VND 10 billion (ten billion Vietnam dong) at the provincial-level State Treasuries or branches of Commercial banks and have warehouses, yards for trading in temporary import for re-export of frozen foods.

Enterprises trading in temporary import for re-export for goods subject to excise special consumption tax must be established at least 2 (two) years, have activities of goods export, import or temporary import for re-export and pay a deposit of VND 7 billion (seven billion Vietnam dong) at the provincial-level State Treasuries or branches of Commercial banks. Within 90 days from the effective day of this Circular, enterprises which have already been granted the license code number of temporary import for re-export as prescribed in Circular No.  05/2013/TT-BCT dated February 18, 2013 issued by Minister of Industry and Trade, providing for activities of trading in temporary import for re-export of a number kind of goods are entitled to continue trading in temporary import for re-export.

Besides, this Circular also details regulations related to seaway bills of lading for goods of trading in temporary import for re-export; supervision over goods; management and use of deposits of enterprises and cases when enterprises violate or the license code number of temporary import for re-export is withdrawn.

For goods banned export, temporarily suspended from export, goods banned import, temporarily suspended from import as license, under the provisions of Decree No. 187/2013/ND-CP, enterprise must have license issued by Ministry of Industry and Trade for temporary import for re-export, temporary export for re-import, border gate transfer of goods. Circular No. 05/2014/TT-BCT also clarifies dossier, procedures and period of license for enterprises.

Circular takes effect from February 20, 2014

 

Source: website of Ministry of Industry and Trade

Vietnam Public-Utility Telecommunication Service Fund (hereinafter called “the Fund”) is a State financial institution under the Ministry of Information and Communications, established to support the implementation of the State's policies on the provision of public-utility telecommunication services nationwide.

Decision No. 11/2014/QD-TTg which is recently issued by Prime Minister Nguyen Tan Dung guides the organization and operation of Vietnam Public-Utility Telecommunication Service Fund.

Accordingly, the Fund will manage financial resources to effectively support public-utility telecommuni­cation service programs; perform the tasks assigned by the Ministry of Information and Communications to coordinate with entities of MOF to organize programs, plans and projects on the provision of public-utility telecommunication services; ensure the right to access telecommunications services for all citizens.

The fund will support loans for telecommunication and Internet enterprises to invest in the construction, upgrade or expand telecommunication and Internet infrastructure and other material foundations in public-utility telecommunication services.

The Fund will support investment in the development of telecommunications infrastructure nationwide, prioritizing infrastructure broadband telecommunications services in rural areas, especially remote areas in extremely difficult, border and island areas where telecommunication enterprises do not operate effectively according to the market mechanism.

Additionally, the fund will ensure the equal right to access telecommunications services to all citizens by providing points of public telecommunications services, particularly in remote areas in extremely difficulties, border and islands, where it is difficult or impossible to set up infrastructure network due to the high investment cost compared to low income of people.

From time to time, the Fund will also support the poor, marginal poverty family and social policy households nationwide to reach public telecommunication services by supporting the price.

Telecommunication enterprises must contribute to the Fund.

The Fund could call for and receive capital from domestic, overseas and other legal organizations to support programs and projects as well as the performance of the task of providing public-utility telecommunication services efficiently.

Annually, the Fund may deduct a portion of enterprise’s contributions to invest in infrastructure, the regular operation and the management of public telecommunications program. The portion will not exceed 5% of the total revenue pursuant to guidance of MOF

Regarding to telecommunication companies which provide services as list of public-utility telecommunication services approved by the Prime Minister must make financial contributions of revenue with concretely up to 5% to the Fund.

 

Monday, 24 February 2014 17:05

Restructuring Telecommunications Market

If the project of restructuring Vietnam telecommunications market was approved by the Government, Mobiphone will be separated from the Post and Telecommunications Group (VNPT). Meanwhile, Mobiphone will develop strongly, serve customer much better and contribute more to the State.

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Currently, Mobiphone is specialized in mobile communication. Mr. Le Ngoc Minh, Chairman of Mobifone company in court "Negotiations to restructure Vietnam's telecommunications market" organized in the afternoon February 2, confirmed that if being separated from VNPT, Mobifone will deliver more services, including telecommunications to customers.

Mr. Tran Manh Hung, General Director of VNPT said that VNPT had submitted the proposal to the Prime Minister to restructure the corporation with the opinion of not managing two mobile networks at the same time.

Tran Manh Hung said " VNPT has researched several plans, analyzed the advantages and disadvantages of both financial and economic factors as well as benefit of millions customers ...  They also discussed with Ministry of information and communication to find the solutions for healthy financial picture and significant grow in future, therefore, they jump to conclusion to separate Mobiphone.

According to Pham Hong Hai, Director General of Telecommunications, Ministry of information and communication, the plan for separating Mobifone from VNPT has the pros as follows. Firstly, Mobiphone currently has a strong brand-name in the telecommunications market. Secondly, Mobiphone can take opportunity of operating independently to overcome Vinaphone. Thirdly, when separated Mobifone, VNPT still ensure healthy development in the future.

"The equitization of State enterprises is currently concerned by the Government. When restructuring plan is approved by the Government, it will help all equitization of Government business is processed more quickly "Mr. Pham Hong Hai emphasized.

Also at the seminar, experts and analysts said that if Mobiphone becomes an independent enterprise and has the ability to compete with Viettel and VNPT Group then, the market will form at least 3 relatively strong businesses, create balance for competitive telecommunications market and sustainable development.

Source: The Electronic Government of the Socialist Republic of Vietnam

In the highly enthusiastic and happy atmosphere of the Lunar New Year 2014, on the morning of 05/02/2014 (The January 6th of the Lunar New Year), the Party Committee, Board of General Directors, leaders of departments and units, auditors, audit assistants, technicians and staff of AASC Auditing Firm have jubilantly organized a meeting, toasting to a happy new year.

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, Party members, auditors, audit assistants, technicians and the whole company staff a new year filled with health, prosperity, success and great achievements in the implementation of target missions of the 7th fiscal year. In addition, Mr. Doan also believed that in the Lunar New year 2014, all departments and units of AASC will do their utmost to overcome all difficulties and challenges to satisfy clients’ demand, achieve new accomplishments, positively contribute to the growth of AASC and bring AASC’s image and position to a new height regionally and globally.

Following the 2014 working schedule, immediately after the New Year celebration, a number of AASC officers and staff have taken the first business trip of the New Year and been ready to outstandingly complete all assigned tasks with a proud feeling of AASC’s great achievements last year. There is a belief ingrained in their mind that in the New Year, AASC will maintain its leading position among Vietnamese Auditing Firm, deeply integrate with global standards and continuously develop in a sustainable way.

Photos of the meeting 

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AASC to chuc khai xuan 2014 anh 4

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On 18/12/2013, Ministry of Industry and Trade issued Circular No.33/2013/TT-BCT regulating on the tobacco material import quota for 2014

Accordingly, the import quota for tobacco material (code HS2401) which allocated to business granted license for producing tobacco by Ministry of Industry and Trade and using tobacco as material for production is at 44,100 tons.

This import quota for tobacco material must be allocated according to Circular No.04/2006/TT-BTM dated 06/04/2006.

This Circular takes effect from 01/01/2014 to 31/12/2014.  

                                                                                                           Source: Translated from Vietnamese version

Saturday, 25 January 2014 10:30

Regulations on imported cigarettes and cigars

On 30th December 2013, the Ministry of Industry of Trade promulgated Circular no. 37/2013/TT-BCT regulating on imported cigarettes and cigars.

On January 3, 2014, the Government issued Decree No. 01/2014/ND-CP regulating on foreign investors’ share purchase from Vietnamese credit institutions. 

According to the Decree No. 01/2014/ND-CP, Vietnam dong is used in foreign investors’ share purchase and sale transactions in Vietnamese credit institutions.

In addition, the shareholding percentage will not exceed 5% of charter capital of a Vietnamese credit institution for a foreign individual and will not exceed 15% for foreign organization (except for the case of a foreign strategic investor whose shareholding percentage shall not exceed 20% of charter capital of a Vietnamese credit institution). 

In case foreign investors purchase shares that leads their shareholding level to be 10% or more of charter capital of a Vietnamese credit institutions, they must meet the following requirements: Being ranked by international prestige credit-rating organizations from the stable level or equivalent or higher level; the share purchases does not create the exclusivity or limit the competition in the Vietnamese credit institution system; not violating seriously Law on Monetary, Banking, Securities Market within 12 months until submission of dossier of share purchase and especially having total assets at least equivalent to USD 10 billion for foreign investors being banks, financial companies, or finance-leasing companies or having the minimum charter capital equivalent to USD 1 billion for foreign investors being other organizations.  

Especially, foreign investor being organization owing 10% or more of charter capital of a Vietnamese credit institution is not permitted to transfer shares owned by it for other organizations or individuals within at least 3 years from owning 10% or more of charter capital of such credit institution.  

This Decree takes effect from February 20, 2014. 

                                                                                                                                  Source: Translated from Vietnamese version

 

 

 

On December 26, 2013, the Government issued Decree No. 219/2013/ND-CP on management of borrowing and repayment of foreign loans of enterprises (companies) is not guaranteed by the Government.

On December 31, 2013, the State Bank of Vietnam (SBV) issued Circular No. 35/2013/TT-NHNN guiding the implementation of some provisions on the prevention of money laundering.

Minister of Transport Dinh La Thang has signed Decision No. 21/QD-BGTVT control plan for Administrative Procedures of the Ministry of Transport in 2014.

On November 05, Minister Dinh La Thang has signed Decision No. 3530/BGTVT announcing supplement, amendment, cancellation and replacement administrative procedures under management functions of the Ministry of Transport.

According to the latest statistics of Foreign Investment Department (Ministry of Planning and Investment) and the positive signals of the economy, foreign investors are increasing their hope in Vietnam real estate after a long quite time.

Particularly, the accumulated of newly registered and increasing FDI capital in real estate during 11 months period of 2013 is USD 884.01 million. This helps real estate to continue being ranked at the third place among all sectors attracting FDI capital.

The increasing in the registered capital, especially at the last months of the year shows that real estate still attracts foreign investors. Although during the difficulties of the world economy as well as the national economy at the beginning of 2013, until the end of the first quarter of 2013, real estate still stands on the second place among all sectors attracting FDI capital with USD 249.84 million in the newly registered and increased total capital.  

According to Savills Vietnam, there is a number of real estate investors from Japan, Korea, Singapore interesting in investing in Vietnam.

All of these positive signals is because Vietnam is believed to be at the end of the price amending period of real estate and foreign investors want to take one step ahead before the market recovers.   

                                                                                                                                      Translated from Vietnamese version

On 31 July, 2013, the Ministry of Construction issued Circular No. 11/2013/TT-BXD promulgating the reporting regime on the construction and business in real estate investment projects.

This Circular guides implementation of reports on the construction and business in real estate investment projects.

Accordingly, types of real estate projects must report as prescribed in this Circular include: Housing development projects; construction investment projects of new urban centers; projects on technical infrastructure of industrial zones; shopping mall projects, offices for rent, hotels; projects on ecological and convalescence tourist zones.

Subjects that have responsibility for making reports as prescribed of this Circular include: Construction Departments of provinces and central-affiliated cities; Investors of the real estate projects as prescribed in Clause 2 Article 1 belonging to all economic  sectors. Relevant organizations and individuals shall supply information, data for focal agencies to sum up and report.

Regulations on the report basic of real estate project’s investors, relevant agency’ data, the Construction Departments of provinces and central-affiliated cities have responsibility to summary and make the general report on basic information of real estate projects; General report on carrying out of investment in construction of real estate projects; General report on land clearance of real estate projects in localities; General report on real estate business at real estate projects; Report on real estate transactions and budget revenues from land and from real estate transaction based on the attached forms.

In the general reports mentioned above, they are required to clearly state the cases which investors have offences in the course of carrying out real estate projects in order to handle under competence and propose the provincial People’s Committees for measures of handling in conformity with provisions of law on investment, construction, land, housing and real estate business.

Ministry of Construction also regulates the time limit for sending report in written to the Ministry is before the end day of end month of quarter and before 31th December annually.

This Circular also requires investors of real estate projects, Management Boards of industrial parks, industrial clusters; Management Boards of urban development zones which are established by State to report basic information of real estate projects under the written approval for investment, certificate of investment or decision on investment permission of competent state agencies. When projects have adjustments or supplementations, the investors of real estate projects shall make reports supplementing the adjusted contents and report on carrying out investment in construction of projects such as: report on land clearance, investment in construction of technical infrastructure works; investment in construction of works; report on business status at project: Status of mobilizing capital, performing financial obligations, selling the houses, leasing house, transferring land use rights, leasing land...  For projects which have been finished course of investment in construction, investors shall continue reporting on business status at projects until whole real estate allowed business in project have been sold and leased. After having finished the investment in construction, investors have to report on ending investment in construction of projects.

Time limit for sending report on basic information of real estate projects is 7 days after having decision on approval for investment or permission of investment, decision on approval of projects of competent agencies, certificates of investment (for foreign investment projects); After 7 days, an additional report must be sent (if any). Time limit for sending reports on carrying out investment in construction and reports on project business must be sent to Ministry of Construction before the 25th day of end month of quarter and before December 25 annually.  Investor must report to the Ministry of Construction during 15 days after finishing investment in construction of works according to investment stages or after 15 days from finishing investment in construction of entire works of projects.

This Circular also requires the Construction Departments of localities to examine report’s contents of investors of real estate projects in localities; The Department of Housing and real estate market Management shall examine reports of the provincial Construction Departments and coordinate with the Construction Departments of localities to examine status of carrying out the real estate projects in order to serve the state management work.

Violation handling: Investors of real estate projects who fail to report or report improperly with the time limit, report with the incorrect or insufficient content as prescribed in this Circular will be handled as follows:

Violation for the first time: The local Construction Departments shall send document for reminding to investor; Violation for the second time: To publicize information of violations on website of the Ministry of Construction, websites of the provincial People’s Committees, websites of the local Construction Departments where implement the real estate projects and notify to investors (if any). Concurrently, sanction administrative violation prescribed by law.

This Circular takes effect from 01/10/2013. Subjects prescribed in this Circular will implement the report from Quarter 4/2013.

Thursday, 23 January 2014 17:03

Exporting rubber: Value added

In 2014, no sign of recovery for natural rubber market is detected. Therefore, speeding up exporting to potential markets and minimizing export of rubber latex are objects of many businesses.

According to the latest report of Rubber Economist Ltd, rubber yield of Vietnam is forecasted to increase 1,5%, to 995,000 tons in 2014 (after increasing 14%, to 980,000 tons in 2013).

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With this amount, Vietnam will overtake Malaysia to become the third largest rubber producing country in the world.

Meanwhile, the rubber production of Thailand – the first largest rubber producing country in the world -could increase 4.2% to 3.74 million tons and the rubber production of Indonesia – the second largest rubber producing country in the world – could increase to 2.1% to 3.16 million tons.  

                                                                                                                                       Sources: Translated from the vietnamese version

Concretizing Resolution 30c/NQ-CP of Government promulgating the master program on the State Administration reform in the 2011-2020 period, Ministry of Agriculture and Rural Development suggested the Government submitting the National Assemble approving Law on Prevention of Natural Disasters; Law on Protection and Plant Quarantine as progress and quality; submitting the Government 6 Decrees, 3 Decisions in fields: Agriculture, farmer and Rural areas.

On 26/12/2013, the Government issued Decree No. 218/2013/ND-CP regulating in detail and guiding on the implementation of the Law on Corporate Income Tax (CIT).

Accordingly, from 01/01/2016, all subjects who currently are applied the CIT rate of 22% will officially be applied the tax rate of 20%. The CIT of 20% for People’s credit fund and microfinance organizations will decrease to 17%.

Before that, the CIT rate applies to all business is still 22%. Especially, the CIT of 20% will apply to business which has annual total revenue of no more than VND 20 billion (including cooperatives, manufacturing entities, trading goods and services entities). Accordingly, the basis to identify whether the business subjected to the CIT rate of 20% mentioned above is their last year total revenue.

The CIT rate from 32% to 50% is applied to the exploration, exploitation of oil, gas and valuable resources in Vietnam. In detail, the 40% or 50% CIT rate apply to resources mines (including: platinum, gold, silver, tin, wolfram, antimony, valuable stones, rare earth or mine which has more than 70% of its area which is in extreme socio-economic difficulties  area and is on the list of areas enjoying CIT incentives according to legal regulation.

For exploitation, exploration of oil and gas, depending on the position, mining conditions and its deposit, the Prime Minister will decide the CIT rate to each project and business entity according to the proposal of Minister of Finance.

This Decree will take effect from 15th February, 2014 and will apply to the tax period of 2014 and forward.   

                                                                                                                            Source: Translated from Vietnamese version

 

On December 27, 2013, the Ministry of Industry and Trade issued new Circular guiding the planning, implementation and management of the national industrial encouragement budget.

(Mic.gov.vn) - Minister Nguyen Bac Son emphasized in the review conference in 2013 and implementation plan 2014 of Vietnam Posts and Telecommunications Group on January 10, 2014 that restructuring of state-owned enterprises (SOEs) is the main mission in order to improve capacity, competitiveness and performance of SOEs, as well as form the foundation for sustainable development of economy in accordance with the resolutions of the Party, National Assembly and the leadership of the Government.

From 16/01/2014 to 17/01/2014, at AASC’s head office, Mr. Darryl Swindells, a member of HLB International Quality Control Unit reviewed and assessed the audit and financial accounting consultancy documentation of AASC Auditing Firm – a member of HLB International.

The review has been quickly and effectively conducted, strictly following the working schedule thanks to the cooperation between AASC and HLB International as well as AASC’s willing to exchange experiences in the management and improvement of service quality in accordance with international standards and practices. AASC’s Board of Directors, Department of Training and Quality Control, auditors, technicians and the whole company staff have been fully aware of AASC's spirit and will try their best for a YEAR OF QUALITY AND CULTURAL IMPROVEMENT OF AASC. After the strict review in compliance with quality control policies of HLB, Mr. Darryl Swindells has given a good technical grade on audit and financial accounting documentation of the company. Additionally, Mr. Darryl Swindells also supported and provided AASC advices to improve the quality of audit documentation and professional services. At the meeting to summarize the results of the review, Mr. Darryl Swindells committed to positively support and assist AASC in quality control of auditing and consulting services to provide clients professional services with HLB and international standards.

Photos of the meeting

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HLB ra soat anh 2

HLB ra soat anh 4

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Following the development strategy of AASC Auditing Firm, from 06/01/2014 to 10/01/2014, Mr. Ngo Duc Doan, Chairman of the Member Board, General Director of AASC and Mr. Do Manh Cuong, Deputy General Director of AASC, in collaboration with HLB International and HLB Thailand, have visited and worked with partners in Myanmar. The main objective of this trip is to survey, research and seek for opportunities to expand AASC professional services in auditing and consulting to Myanmar as well as to communicate and improve AASC’s image and prestige regionally and globally.

The delegate has met and discussed with consulting agencies, sponsors and Association of Vietnamese Investors to Myanmar (AVIM), especially with Win Thin Association, the biggest auditing firms in Myanmar. All parties have exchanged and shared experiences to develop auditing, accounting and consulting services as well as discussed the plan to boost the mutual cooperation to expand market share and increase clients’ number in Myanmar and Thailand. HLB Thailand and Win Thin Association have also pledged to positively support AASC in providing and fortifying professional services in these markets. Concurrently, HLB International proposed to assist AASC to enhance the cooperation with HLB Japan, HLB Hungary, World Bank (WB), Asia Development Bank (ADB).

Photos of the visit

Win Thin

 myanmar

 

 

 

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Tuesday, 07 January 2014 15:35

10 Highlight News of AASC in 2013

Ahead to 2014, we would like to introduce 10 outstanding events of AASC in 2013:

 1. Launching ceremony of AASC and ACG 

Le cong bo Thuong hieu Anh 1The celebration of launching ceremony of AASC solemnly held on 17/05/2013 in Hanoi has been successful. Auditing and Accounting Financial Consultancy Services Company Limited (AASC) has rebranded into AASC Auditing Firm and brought AASC's prestige, one of two first established auditing firms in Vietnam, to a new height. 

 

Le cong bo thuong hieu Anh 2

Along with the announcement of the new name and logo of AASC Auditing Firm, on 17/05/2013, AASC Consulting and Associates Company Limited (ACG) was also launched, aiming to provide clients professional services of financial accounting and tax consultancy…with highest quality. 

 

Logo AASCLogo ACG

2. Received and worked with the world’s top experts in auditing and consulting

With the aim of deeply integrating into global professional services of auditing, accounting, financial consultancy…, AASC Auditing Firm has received and worked with Mr. Rob Tautges, Chairman of HLB International and Mrs. Coco Ke Liu, head of business channel development of HLB International. Both parties have actively shared experiences to develop auditing and accounting profession in Vietnam and other foreign countries. Mr. Rob Tautges pledged to positively support AASC to become a brilliant pioneer of Vietnam Independent Audit profession and narrow the gap with Big 4 auditing firms operating in Vietnam.

Additionally, AASC’s Board of Directors has always paid great interest to human resources of the company, prioritizing the recruitment of staff with extensive experience and deeply practical understanding. In order to provide clients professional services with highest quality, on 26/12/2013, Chairman of the Member Board, General Director Mr. Ngo Duc Doan has worked with and officially appointed Japanese expert, Mr. Toshio Sudoh as a new member in AASC Auditing Firm.

Lam viec voi chuyen gia 1Lam viec voi chuyen gia 2

3. Celebration of 15 years putting AASC building into use (1998-2013)

On 09/08/2013, Board of Management and key leaders of AASC Auditing Firm held a celebration of 15 years putting AASC building into use (1998-2013). This building has been an important factor that actively contributed to the development of AASC Auditing Firm and AASC’s spirit, affirmed AASC prestige and position in Vietnam independent audit profession and increased clients’ trust in the Company. AASC has significantly contributed to the stable growth of AASC independent audit profession and its brand name has expanded all over the country, regionally and globally. 

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4. AASC signed Memorandum of Agreement with Centre for Sciences and Staff Fostering - State Audit of Vietnam 

On 18/06/2013, at the office of Centre for sciences and staff fostering, State Audit of Vietnam, AASC has signed memorandum of agreement with Centre for sciences and staff fostering, State Audit of Vietnam. This memorandum plays a role as the framework for both sides to promote activities to help and support each other to best comply with the Independent Audit Law, the Law on State Audit and contribute to the strong development of the State Audit and Independent Audit profession

ThoaThuanHoptackiemtoannhanuoc2

5. Meeting with former leaders of Ministry of Finance

 Following AASC launching ceremony, on the morning of 01/07/2013, Chairman of the Member Board, Board of Management, Party Committee Secretary, Chairman of Trade Union, Youth Union Secretary and representative of the veteran committee of AASC Auditing Firm honorably welcomed and cordially met with former leaders of Ministry of Finance (MoF): Mr. Ho Te, former Finance Minister, Mr. Ly Tai Luan, former Chairman of the National Assembly Committee on Economic and Budgetary Affairs, former Deputy Ministers: Mrs. Pham Thi Mai Cuong, Mr. Pham Van Trong, Mr. Vu Mong Giao, Mr. Nguyen Ngoc Tuan (Chairman of Vietnam Valuation Association at present), Asso. Prof., Dr. Dang Thai Hung - Director of Accounting & Auditing Policy Department and Dr. Pham Huy Doan - former Director of AASC. At the meeting, AASC has expressed sincere thanks to former leaders and hoped to continue receiving their interest and assistance to strongly develop and successfully implement the development strategy of auditing and accounting towards 2020, vision to 2030.

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6. Thailand Ministry of Transport appointed AASC as consultant for national priority project

 On 20/8/2013, in Thailand, Directorate for Roads of Thailand - Ministry of Transport and consulting group including AASC Auditing Firm – HLB member in Vietnam and HLB Thailand successfully held a signing ceremony of consulting agreement for “Greater Mekong sub-region highway expansion project”. This is one of Thailand national priority projects in the aspects of traffic, economics and relations with other countries coordinated by Thailand Ministry of Transport with total capital investment up to $180 million (approximate to VND 3,800 billion) financed by Asian Development Bank (ADB). The appointment has affirmed the recognition of AASC's capacity and experience in the region and internationally. 

Bo Giao thong Van tai Thai Lan 1

 7. Cordial meeting to celebrate 20 year anniversary of Vietnam Prime Minister’s approval for AASC to rebrand and implement auditing services (06/09/1993 – 06/09/2013)

On the morning of September 14, 2013, in Hanoi, AASC Auditing Firm held a meeting to celebrate 20 year anniversary of Prime Minister’s approval for AASC to rebrand and implement auditing services (06/09/1993 - 06/09/2013). After 2 decades, AASC has not only inherit and promote the company’s core and traditional values but also continuously innovate and enhance service quality and professional knowledge to deeply integrate into global professional services of accounting, auditing, financial consultancy, tax consultancy in conformity with strict Vietnamese and global auditing standards, maintain clients’ and partners’ trust nationally and internationally.

20 nam ky niem doi ten va bo sung nganh kiem toan anh 3

8. Successfully organized AASC’s Communist Party meeting tenure 2013 – 2015 and Trade Union meeting tenure 2013 – 2018

Anh dai hoi Dang bo 2013-2015 Anh 2From 29th November, 2013 to 30th November, 2013, AASC Auditing Firm successfully held AASC’s Communist Party meeting tenure 2013 – 2015 and Trade Union meeting tenure 2013 – 2018. At the meeting, AASC’s Communist Party Committee has affirmed its role in collaboration with AASC Board of Directors to lead, conduct and successfully implement Communist Party’s resolutions of ministries and localities, AASC Board of Members and bring AASC to a new height, being on a par with Big 4 auditing firms operating in Vietnam and greatly contribute to the stable development of Vietnam independent audit profession.

Dai hoi Cong doan nhiem ky 2013-2018 Anh 2

9. 2013 Revenue increased approximately 10% compared to that of 2012

On 26/11/2013, AASC Member Board approved the company’s revenue generated from auditing and consulting services in 2013 of approximately VND 131 billion, growing approximately 10% compared to 2012 revenue. That brings AASC to the top leaders of Vietnamese auditing firms and helps AASC to narrow the gap and gradually be on a par with Big 4 auditing firms operating in Vietnam. Additionally, AASC’s contribution to the State Budget has been remarkably increased and the living standards of AASC’s staff and their families have been improved.

AASC revenue in 6 years of transformation to a limited company with more than two members.

                                                                                                                                                   Unit: million VND AASC revenue in 6  years

10. AASC Auditing Firm and AASC key leaders honorably received prestigious prize of Vietnamese Communist Party and Government

To recognize and praise AASC’s great achievements in 2012 and significant contributions to the Social Republic building and nation protection as well as the strong development of Vietnamese Independent Audit profession and Finance Industry, on 24th June, 2013, 2013,Vietnamese Prime Minister issued Decision no. 982/QĐ-TTg to award AASC Auditing and Accounting Financial Consultancy Services Company Limited (rebranded into AASC Auditing Firm)  the illuminating Flag of the Government for outstandingly completing  business tasks and leading the illuminating movement of Finance Industry in 2012. On 31/10/2013, the State President has signed Decision No. 2055/QD-CTN to award the Second Labor Metal to Mr. Ngo Duc Doan, Chairman of the Member Board, General Director of AASC. On 28/10/2013, the Prime Minister has issued Decision No. 1646/QĐ-Ttg to award merit certificate to Mrs. Pham Thi Thanh Giang, member of the Member Board, Deputy General Director of AASC. On 08/10/2012, the State President issued Decision No. 1546/QĐ-CTN, awarding the Third Labor Metal to Mr. Pham Anh Tuan, manager of AASC Auditing Department No. 1. On 26/09/2012, the Prime Minister issued Decision No. 1411/QĐ-Ttg, awarding Merit Certificate to Mrs. Nguyen Thi Hai Huong, director of AASC branch in Quang Ninh.

Hoi nghi nguoi lao dong anh 3Hoi nghi nguoi lao dong anh 4

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On 03/01/2014, in Hanoi, AASC Auditing Firm ceremonially held “Labor Conference 2013” and received prestigious awards of the government and communist party of Vietnam.

Attendees at the conference include leaders and former leaders of Ministry of Finance (MoF), the National Assembly Committee on Economic and Budgetary Affairs: Mr. Tran Xuan Ha, Deputy Minister of MoF, Assoc. Prof. Tran Van Ta, Chairman of Vietnam Association of Certified Public Accountant (VACPA), Dr. Nguyen Ngoc Tuan, Chairman of Vietnam Valuation Association (VVA), Mrs. Nguyen Thi Cuc, Chairman of Vietnam Tax Consultants' Association, Dr. Pham Huy Doan, former director of AASC, leaders of MoF Department of emulation and commendation, leaders of MoF Trade Union, leaders of MoF Communist Party Committee and Youth Union, AASC Board of Directors and over 180 delegates representing over 370 officers of the Company.

Speaking at the conference, Standing Deputy Chairman of MoF Trade Union Mr. Bui Xuan Ngoc recognized and praised the outstanding achievements of AASC in 2013, despite of Vietnamese difficult economic situation. AASC has reached approximately VND 131 billion in revenue, increase the payment to State Budget, improve employees’ salary as well as their physical and mental health, and increase social contributions. Thanks to these achievements, AASC has honorably received a remarkable number of prestigious awards of Vietnam Government and Communist Party.

On behalf of Finance Minister, Mr. Tran Xuan Ha, Deputy Finance Minister has awarded AASC the Government Emulation Flag for the second time, Mr. Ngo Duc Doan – Chairman of the Member Board, General Director of AASC the Second Labor Medal, Mrs. Pham Thi Thanh Giang the merit certificate of the Government. On behalf of MoF leaders, Mr. Nguyen Van Hoa, Deputy Director General of MoF department of emulation and commendation, awarded a number of merit certificate of Finance Minister to AASC departments and individuals…

Photo of the AASC Labor Conference 2013 

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Standing Deputy Chairman of MoF Trade Union Mr. Bui Xuan Ngoc made speech at the Conference 

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AASC Labor Conference 2013

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Deputy Finance Minister Tran Xuan Ha awarded AASC the Government Emulation Flag for the second time

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 Deputy Finance Minister Tran Xuan Ha awarded AASC General Director Ngo Duc Doan the Second Labor Medal. 

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In order to achieve sustainable growth and render the best professional services to clients, on 26/12/2013, Mr. Ngo Duc Doan, Chairman of the Member Board, General Director of AASC cordially received and worked with Japanese expert Mr. Toshio Sudoh, a new member in AASC family.

Mr, Toshio has accumulated over 30 year experience working in multinational corporations and countries such as Japan, America, French, Netherland and Vietnam. He is regarded by numerous clients as one of leading experts in the field of business management, customer relations and service development.   

AASC believes that, with the great support of the Board of Directors and close cooperation of all colleagues, Mr. Toshio Sudoh will reach his full potential to significantly contribute to AASC’s development, provide clients professional services with highest quality and support AASC to successfully implement Auditing and Accounting Strategy towards 2020, with a vision to 2030.

Photos of the meeting

Anh web 1

 Chairman of the Member Board, General Director and key leaders of AASC discussed with Mr. Toshio Sudoh

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Mr. Doan believes that Mr. Sudoh will greatly contribute to the development of AASC 

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Thursday, 26 December 2013 14:53

Conference on tasks of banking sector in 2014

The State Bank of Vietnam (SBV) held a conference to work out the tasks for the banking sector in 2014 in Hanoi on December 18. The conference was attended by Prime Minister Nguyen Tan Dzung, representatives of the National Assembly, the Central Office and various Commissions of the CPV Central Committee, the President’s Office, the Government’s Office, the National Financial Supervisory Commission, ministries and agencies, members of the SBV Management Board and representatives of the SBV departments and entities; Directors of the SBV municipal and provincial branches, Chairmen of the Boards of Directors of credit institutions, the Vietnam Bank for Social Policies, the Vietnam Development Bank, the Deposit Insurance of Vietnam, joint – venture banks in Vietnam, branches of foreign banks in Vietnam, wholly foreign owned banks, finance companies and others. 

In his key note speech, Governor Nguyen Van Binh emphasized that the socio-economic condition in 2013 encountered many difficulties and challenges which directly affected banking operations; however, under the leadership of the Communist Party of Vietnam, the oversight of the National Assembly, the strict guidance of the Government, the close coordination of the relevant ministries and agencies and with the solidarity and efforts of all state employees in the banking industry, the banking sector has successfully fulfilled the assigned tasks.

The SBV Governor said that the banking sector will face many difficulties and challenges in 2014; however, experience, lessons and determination of the banking sector which has been shown in the recent time would be a solid basis for the banking sector to continue striving to fulfill the tasks assigned by the CPV and the Government in 2014. 

As the main presenters of the conference, Ms. Nguyen Thi Hong, Director of the Monetary Policy Department delivered a report on monetary policy management and banking operations in 2013 and directions for 2014; and Mr. Nguyen Huu Nghia delivered a report on the results of supervision in 2013 and key tasks in 2014. (For the full report, please read the press release in the SBV Website on December 19).

In his speech, Mr. Nguyen Dong Tien, Deputy Governor and Chief of the Emulation Committee of the banking industry launched the emulation program on fulfilling the tasks of the banking industry in 2014. This program aims at encouraging all state employees of the banking sector to make their efforts to successfully fulfill the tasks, while heightening the sense of discipline and responsibility. 

On this occasion, Prime Minister Nguyen Tan Dzung awarded Labor Orders of the 2nd and 3rd class to various entities and individuals of the banking sector.

Addressing the conference, Prime Minister Nguyen Tan Dzung spoke highly of the efforts of the banking sector in 2013 in the implementation of resolutions of the National Assembly and the Government in order to continue stabilizing macro-economy, curbing inflation and implementing solutions to remove difficulties, support businesses, promote economic growth, restructure the system of credit institutions and ensure prudent banking operations, thereby, contributing to significantly boosting socio-economic development. Notably, he said, in 2013 the banking sector has taken strict measures of curbing inflation, supporting enterprises to overcome difficulties in order to boost production and business; extending loans for agricultural and rural development, exporters, supporting industries and SMEs; the restructuring of weak banks has been under control to maintain safe and sound banking operations. In particular, he added, the SBV has proactively directed credit institutions to implement measures of mitigating new NPLs , recovering loans and actively resolving NPLs in line with law. As a result, NPLs has tended to slow down considerably. In addition, the year 2013 also marks the initial successful step in the management of the gold market in accordance with the Government’s guidance.

The management of the exchange rate and foreign exchange market has been implemented consistently, reflecting the SBV’s role in regulating the market, contributing to gradually reducing dollarization in the economy, increasing international reserves; the gold market has gradually been stable in line with the guidance of the Government with the improvement of the role of state management and protection of the citizens’ legal right; up to now, the anti-“goldization” roadmap has obtained positive outcomes with the significant prevention of gold speculation and smuggling; and gold bullions have been terminated to be used as means of payment, thereby creating a precondition for mobilizing gold from individuals for the socio-economic development. 

The Prime Minister required the banking industry to take advantage of the achievements obtained in 2013, while taking decisive measures in accordance with the guidelines and policies of the CPV and the Government in stabilizing and developing the economy. He expressed his agreement with the missions and measures that were proposed in the SBV’s reports. He emphasized that the banking sector should decisively deploy the following tasks: Flexibly managing synchronous monetary policy tools in combination with the fiscal policy in order to curb inflation, strengthen macro-economic stability and ensure economic growth at a reasonable rate; Operating interest rates in line with macro-economic developments and the objectives of curbing inflation, facilitating enterprises to get access to bank loans, focusing on credit extension to the priority areas in order to support economic growth; Ensuring the liquidity and prudent banking operations; and Coordinating with the relevant ministries and agencies to effectively support production and business.

Additionally, he required the banking sector to continue flexibly operating the exchange rate and foreign exchange market by market forces, closely managing gold trading , implementing solutions to improve the international balance of payments, increasing international reserves; continuing to synchronously implementing the Government’ directions on restructuring the system of credit institutions in accordance with the set objectives and roadmap; implementing the scheme on resolving NPLs of the system of credit institutions, well organizing the operations of the Vietnam Asset Management Company in order to effectively resolve NPLs; directing credit institutions to proactively reschedule debts, make risk provisioning and utilize provisioning to resolve NPLs; and consolidating and strengthening supervision to ensure safe and sound banking operations. At the same time , he said, it is necessary to continue improving the legal framework of monetary and banking operations in consistence with international practices in order to enhance the effective management of the SBV, and create a consistent legal basis for credit institutions’ implementation, thereby maintaining the stable and prudent baking sector.

He emphasized that the main goals in 2014 will be to strengthen macro-economic stability, curb inflation at a low rate, obtain a higher economic growth rate than that of 2013 and ensure social protection . He expressed his hope that the banking sector will continue to fulfill the set tasks and ensure safe and sound banking operations.

In his closing remarks, the SBV Governor on behalf of the SBV Management Board expressed his sincere thanks to the Government and the Prime Minister for their wholehearted support and guidance to the banking sector. He committed that the whole banking industry will do its best to successfully fulfill its set tasks in 2014.

                                                                                                                             Sources: website of the State Bank of Vietnam

On December 24, 2013, the Governor of the State Bank of Vietnam (SBV) has issued the Document No.  9618/NHNN-PHKQ on strengthening the safety of bank in the Lunar New Year in 2014.

Ministry of Finance has issued Circular No. 159/2013/TT-BTC guiding the regulations on collection, payment, management and use of road use toll for payback of road construction investment capital. This Circular takes effect from 01/01/2014.


This Circular regulates the rate of collection, regulations on collection, remittance, management and use of road use toll for payback of road construction investment capital for business. For other investment projects implemented by separate guidance from the Ministry of Finance (for national highway) or provincial People’s Council (for local road);

Subjects of toll include: Road motor vehicle and special use motocycles participating in road traffic;

Cases of toll exemption: Ambulances, including other vehicles transporting accident victims to the emergency place; Fire trucks; Agricultural and forestry vehicles include: Plowing machine, harrowing machine, weeding machine and threshing machine; Dike protection vehicles, emergency duty vehicles of flood and storm protection; Vehicles used exclusively for national defense and security, including: tanks, armored vehicles, artillery tractor and truck carrying armed forces operating; Funeral convoy; Convoy escorted and led the way by other vehicles; Cars of the police and national defense forces in the use of ticket of "national toll" as regulated.

Besides, free toll for two-wheel motor vehicles and three-wheel motor vehicles, motorized two wheelers and motorized three wheelers; Vehicles transporting medicines, machinery, equipment, supplies and goods to disaster areas or in areas with diseases under the regulations of law on the state of emergency upon major disaster and dangerous disease.

This Circular regulates the fees as follows: Vehicles less than 12 seats, trucks with load of less than 2 tons, public passenger buses are subjected to the fees from VND 15,000 – VND 52,000. Vehicles from 12 seats to 30 seats; trucks with load from 02 tons to less than 04 tons are subjected to the fees from VND 20,000 - VND 70,000./ticket/time.

Vehicles from 31 seats or more, trucks with load from 04 to less than 10 tons are subjected to the fees from VND 25,000 – VND 87,000. Trucks with load from 10 to less than 18 tons and 20 feet container trucks are subjected to the fees from VND 40,000 – VND 140,000/ticket/time.

Trucks with load from 18 tons or more; 40 feet container trucks are subjected to the fees from VND 80,000 - VND 200,000/ticket/time.

In 2014, applying the maximum rate of collection of not greater than 2.5 times of the minimum rate (for the collection of group 5 vehicles, the rate of collection is not greater than 02 times of the minimum rate);

In 2015, applying the maximum rate of collection of not greater than 3 times of the minimum rate (for the collection of group 5 vehicles, the rate of collection is not more than VND 180,000/ticket/time);

From 2016 onwards, the rate of collection shall comply with the rate mentioned above. 

On November 21, the Ministry of Construction issued Circular No. 20/2013/TTLT-BXD-BNV guiding some contents of Decree No. 11/2013/ND-CP dated January 14, 2013 of the Government on investment management of urban development.

The government has issued a decree amending and supplementing a number of articles of Decree No. 48/2010/ND-CP on contracts in construction activities, including additional provisions applicable for conditions of contract prices.

Cairns Group Ministerial Meeting of countries having benefits from exporting agricultural goods 38th of WTO was organized on December 2nd, aside from the 9th WTO Ministerial Conference in Bali, Indonesia.

On December 12, 2013, the Ministry of Agriculture and Rural Development (MARD) held the 2013 ISG Plenary Meeting on the theme "International Economic Integration for Agriculture in Viet Nam: New Challenges and Opportunities".

The Ministry of Finance is seeking comments on the draft circular guiding the implementation of the imported- exported goods tax payments and refunds and other charges through specialized account of customs agents opened at commercial banks.

This circular is to implement the WTO commitment of the year 2014, the Prime Minister's Instruction No. 09/CT-TTg on strengthening direction of conducting financial and budgetary duty of the year 2013 and Conclusion of Prime Minister at the Note No. 302/TB-VPCP published by the Office of Government and after discuss with other related Ministries and associations, Ministry of Finance (MOF) has just promulgated Circular No. 164/2013/TT-BTC dated November 15th, 2013 regulating on the export tariff and the preferential import tariff according to list of taxable goods items and taken effect since January 1st, 2014.

In term of export tariff, to make favorable condition in implementing for both taxpayer and customs agency, the 2014 export tariff has been adjusted on list of export dutiable goods items to harmonize with the list of export - import goods of Vietnam and amended the export tax rate on some kinds of commodities as specified below:

- Regarding to the list of export tariff, the dutiable products in the list of export tariff are specified in groups according to the code of eight numbers. The groups of commodities namely defined as in the import tariff are coded and named as in the import tariff. For the goods and products have not described in the import tariff yet, they will be named and coded specifically according to commodity codes classified in the import tariff based on their own nature and classification regulation of goods.

- For the export tax rate: it has changes on some groups of commodities such as gold, rubber, titan manufactured products to suit with current socio-economic development within the country and the international economic background.

In term of the general preferential import tariff: the general preferential import tariff adopted from January 1st, 2014 has changes with the 2013 preferential import tariff. The import tax rates on some kinds of products are reduced to harmonize with WTO commitment of the year 2014 and amended the irrational on import tax rate between the finished products and imported raw materials, components for manufacturing and assembling into finished product.

Ministry of Finance also increases preferential import tax rate applied on some tax lines in accordance with the Instruction No. 09/CT-TTg to encourage the production and increase the competitiveness of the domestic products.

Enterprises are recommended to actively research more information on the website of Ministry of Finance to adjust their production and business according to new regulations

 

The Government has issued Decree No.174/2013/ND-CP regulating on handling administrative violations in the domain of post, telecommunications, technology and radio frequency bands.

According to Clause 4, Article 21 of this Decree, fines from VND 170 million to VND 200 million are applied to one of the violations as follows: telecommunications businesses that dominate the market or telecommunications businesses that possess essential devices use information of other business to compete unfairly or to clear telecommunications service among them for the unfair competition purpose.

Apply the fines from VND 70 million to VND 100 million for telecommunications businesses that dominate the market or telecommunications businesses or possess essential devices takes advantages of their telecommunications networks and essential devices to impede the market penetration, limit, cause troubles to provision of telecommunications services by other telecommunications businesses.

This Decree has 8 sectors, 104 articles regulating on violations, sanctions, fines, remedies, competence to make report and competence to handle administrative violations in post, telecommunications, technology and radio frequency bands.

This Decree takes effects from 15 January, 2014. 

 

Wednesday, 25 December 2013 14:56

National Radio Spectrum Planning

Prime Minister has just issued new Decision on National Radio Spectrum Planning

Accordingly, the planning divides or allocate the radio spectrum into brands for radio operations and regulatory purposes and regulates the conditions to use those brands

On the occasion of the 69th anniversary of Vietnam People’s Army (22/12/1944-22/12/2013) and 24th anniversary of National Defense Day, with encouragement of AASC Board of Directors and Party Committee, on the afternoon of 20/12/2013, AASC Auditing Firm held a cordial meeting to express thanks to veterans and soldiers currently working at the Company.

Speaking at the ceremony, on behalf of AASC Board of General Directors, Mr. Nguyen Quoc Dung, Deputy General Director expressed sincere thanks to veterans and soldiers for their sacrifice for the independence and freedom of Vietnam. In the peaceful time of the country, the spirit, determination and noble traditions of a soldier are still running through their veins, assisting them to overcome all difficulties and greatly contribute to the sustainable growth of Vietnam. Mr. Dung also recognized, praised and hoped that all veterans and soldiers working at AASC will always be healthy, successfully completed all assigned tasks and contribute more significantly to the development and prosperity of AASC as well as the country. In the fields of auditing and consulting, Uncle Ho’s soldiers are always active, creative and full of determination to help AASC strongly develop and be on a par with Big 4 Auditing Firms operating in Vietnam.

Photos of the meeting 

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On the morning of 10/12/2013, at the meeting hall of National Economics University, Swinburne University of Technology, Australia solemnly organized the graduation ceremony for Master of International Accounting (MinTA 13). Mr. Pham Anh Tuan, Manager of Auditing Department No. 1 of AASC Auditing Firm is among outstanding trainees to be honorably granted the certificate at the ceremony.

The success of Mr. Pham Anh Tuan is resulted from his continuous attempts during 3 years of hard studying at the university. Despite working in high pressure environment, Mr. Tuan always showed his great attitude and determination to acquire knowledge. His efforts have been rewarded with a distinction master degree of international accounting and appreciation of experts and management board of Swinburne University of Technology – Australia. AASC Auditing Firm also believes that the success of Mr. Tuan will actively contribute to the development and growth of the Company.

Congratulations to Mr. Pham Anh Tuan!

Photos of the ceremony

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As report of the Ministry of Finance, although socioeconomic during first 11 months has been many positive signs, budget management has been actively directed and implemented. In addition, the financial sector has also actively sought methods to implement Resolution No.  01, 02 of the Government.

Following the success of the Party Committee Meeting of AASC Auditing Firm, tenure 2013-2015 and received the encouragement and direction of the Executive Committee of AASC Communist Party, Member Board and Board of General Directors, on the morning of 30/11/2013, AASC organized successfully the Trade Union Meeting, tenure 2013-2018 with the presence of 123 delegates representing 352 members of the Company’s Trade Union. The meeting was also honored to welcome the attendance of the Standing Vice -President of Ministry of Finance Trade Union Mr. Bui Xuan Ngoc and Director of Ministry of Finance Trade Union Office Mrs. Nguyen Thi Nham.

Speaking at the meeting, the Standing Vice-President of the Ministry of Finance Trade Union, Bui Xuan Ngoc and the Chairman of Member Board, Secretary of the Company’s Party Executive Committee, General Director Ngo Duc Doan praised the operating results of the Company’s Trade Union in the last tenure.  suggested and hoped that the Company’s Party Executive committee will continue to contribute effectively to the protection of the labor rights of their members, building a joyful and professional working environment with high solidarity, encouraging all staff to work more creatively and successfully complete the Company’s political mission, actively contribute to the solid development of the Trade union and the Company.   

On behalf of the Trade Union Executive Committee , the tenure 2013-2018, the President of Company’s Trade Union, Deputy General Director Cat Thi Ha expressed sincere thanks to the leaders of the Ministry of Finance and expected to continue to receiving the attention of the Ministry of Finance Trade Union, the leadership and direction of the Company 's Party Committee and Board of General Directors to the strong development of the Trade union activities, reach more achievements in the tenure 2013-2018, contributing to the development of AASC Auditing Firm to be on par with the Big 4 audit companies operating in Vietnam.

Pictures of the AASC Auditing Firm’s Trade Union Meeting, tenure 2013-2018.

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 Mr. Bui Xuan Ngoc – Standing Vice-President of the Ministry of Finance Trade Union made speech at the ceremony

Dai hoi Cong doan nhiem ky 2013-2018 Anh 2

Leader of Ministry of Finance Trade Union and Leaders of AASC presented flowers to AASC Trade Union Executive Committee, tenure 2013-2018

                                                                                                                                                                                                           BBT

According to the Dispatch No.204-CV/DUTC dated on 4/1/2013 of Ministry of Finance Committee of Communist Party guiding on organizing the Communist Party meeting, tenure 2013 -2015 and with consent of the Standing Committee of Ministry of Finance (MoF) Communist Party, on the morning of 29/11/2013, AASC Auditing Firm Limited Company organized the AASC Communist Party meeting, tenure 2013 -2015. The meeting was honored to welcome Mr. Tran Xuan Tu, member of Executive Committee of MoF Communist Party, Chief of MoF Communist Party Office.

At the meeting, Communist Party Secretary, Chairman of Member Board, General Director of AASC Ngo Duc Doan presented the summary report on activities of AASC Communist Party during tenure 2008-2012, the vision and mission to the tenure 2013-2015 and the self assessment report of AASC Communist Party during tenure 2008-2012. The report stated the most remarkable achievement of AASC Communist Party Committee in the last tenure as well as reviewed the compliance of all activities with the resolution of Ministry of Finance Communist Party; co-operated with the Company’s management board in directing, organizing and completing successfully political missions, promoting AASC to the leading position among Vietnamese Auditing Firms; building the Communist Party more transparently and strongly; keeping focus on well practicing, training and completing all activities of the Party. Concurrently, Secretary Ngo Duc Doan also emphasized and noticed all members of AASC Communist Party to continue to update knowledge, ethics, learn and work following the bright example of the great President Ho Chi Minh, be more active and creative to contribute effectively to the development of AASC Party Committee and AASC Auditing Firm.

Speaking at the meeting, Mr. Tran Xuan Tu acknowledged and praised the operations and achievements of AASC Communist Party Committee during the tenure 2008-2012, and also pointed out the limitations of the activities of the Party in each department, the effective solution in order to improve the quality of the Party activities.

At the end of the meeting, Secretary of Party Committee Ngo Duc Doan expressed a sincerely thanks to the MoF Standing Committee of Communist Party and Mr. Tran Xuan Tu also believed that with the direction of the AASC Standing Communist Party Committee, tenure 2013-2015, the attention of the MoF Communist Party, the consensus of all Party members, AASC Communist Party will continue to develop strongly, attain more success and achievement to promote the position of AASC Auditing Firm to be on a par with Big 4 auditing companies operating in Vietnam.

Photos of the meeting.

Anh dai hoi Dang bo 2013-2015 Anh 2

Secretary, Chairman of the Member Board, General Director made speech at the meeting 

 Anh dai hoi Dang bo 2013-2015 Anh 3

Mr. Tran Xuan Tu, member of Executive Committee of MoF Communist Party, Chief of MoF Communist Party Office gave comments at the meeting 

                                                                                                                                                                                 BBTDai hoi Dang bo anh 3

 Executive Committee of AASC Communist Party, tenure 2013-2015

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During two days from 25 to 26 November, 2013, the 7th Board of Member’s Meeting of AASC Auditing Firm was organized in the jubilant atmosphere to celebrate the success and the achievement of AASC in the sixth fiscal year and 6 years of transformation from a State owned Enterprise to a Company Limited with more than two members (2007 - 2013).

At the meeting, all members has passed the Comprehensive Annual Financial report for the sixth fiscal year and Financial report of the Board of General Directors with revenue achieved at VND 130 billion, increasing approximate 10% compared to that of the fifth fiscal year. The purpose, responsibilities and plan for the 7th fiscal year of AASC Auditing Firm was discussed actively and in great details by all members. AASC Member Board agreed to adjust the developing strategy of the Company to comply with the accounting and auditing strategy towards 2020, vision to 2030 which has been approved by the Prime Minister and the Minister of Ministry of Finance agree to apply. Accordingly, AASC will continue to focus on developing market and market shares of providing auditing, accounting and financial consulting and tax services, continuously increase quality services provided to clients. In addition, AASC member Board also prioritize the task of developing high-skilled human resources by enhancing training courses; admit a new member of AASC Branch in Ho Chi Minh City as well as begin to upgrade information systems and supplement supporting tools in order to improve the process of conducting auditing and consulting courses.

At the end of the meeting, Chairman, General Director of AASC Ngo Duc Doan believed that with the right strategy and the consensus of all members, Board of General Directors, managers and officers, AASC Auditing Firm will continue developing strongly, being the bright example in the Vietnamese Auditing companies, step-by step developing to be on a par with Big4 Auditing companies operating in Vietnam.

Photos of the meeting

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With the aim of improving management ability to key leaders of the Company, promoting, expanding and increasing Company’s market shares and Auditing, Accounting, Financial Consulting and Tax services quality, from 09/11/2013 to 13/11/2013, AASC Auditing Firm cooperated with PACE Institute of Leadership and Management to organize the training course for AASC senior auditors at AASC head office, 01 Le Phung Hieu Street, Hoan Kiem District, Hanoi. The Board of General Directors, leaders of departments and units of the company, directors of AASC Ho Chi Minh City and Quang Ninh branch participated in the training course delivered by PACE Institution of Leadership and Management’s lecturers with extensive experience and deeply practical understanding.

At the end of the course, on behalf of all participants, Chairman of the Members Board, General Director Ngo Duc Doan expressed sincere thanks to PACE Institution and their enthusiastic, dedicated and experienced lecturers. He also believes that the knowledge and valuable experience gained through this course will be the driving force and the factor motivating all Company’s leaders and auditors to strive up, gain more knowledge and experience, continue improving services quality providing to clients, as well as be more creative, positive and active to achieve the targets and successfully implement the Accounting and Auditing Strategy towards 2020, vision 2030, continue to maintain the leading position in among Vietnamese Auditing Companies.

Photos of the training course.

 Anh PACE 1

Lecturers shared experiences in classroom

 Anh PACE 2

Trainess discussed and exchanged in the training course

 Anh PACE 3

 PACE Insitute of Management granted Certificate to distinguished trainees

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Towards the celebration of 50 years of Hanoi Academy of Finance’s establishment (1963-2013), on 10/11/2013, the Accounting Department of Academy of Finance held the 2nd auditing and accounting professional day. Attendees at the event include Board of Director of Academy, lecturers and leaders of auditing firms, accounting and auditing professional associations and numerous students of the Academy. At the invitation of the Accounting Department, representatives of AASC Youth Union and other departments participated in the event and shared precious professional experiences and orientations to the students of the Academy.

At the event, on behalf of AASC Youth Union, Mrs. Truong Thi Hoai Anh enthusiastically shared practical experiences, challenges and requirements of auditing and accounting profession with young students. Such advices would be very useful and critical for young students to build a better professional orientation and realize what it takes to be a good auditor. As a result, they can try their best to strive for success.

Also at the event, AASC Auditing Firm and ACCA, VACPA organized “Auditing Camp” to assist and answer questions of students. At AASC camp, all students of academy had opportunities to meet, discuss and get precious advice and sharing from AASC staff and access to career opportunity at AASC. All students were so excited to learn new experience and knowledge as well as felt the pride of AASC staff. AASC’s camp was always full of young students who were deeply impressed with AASC’s image and working environment. AASC also believed that they will become outstanding members of AASC family in the future, doing their utmost to develop to the sustainable development of AASC – the leading one among Vietnamese Auditing Firms.

Photos of the event

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Deputy Manager of Auditing Department No. 2 of AASC Ms. Truong Thi Hoai Anh (the 3rd from right to left) shared experiences with students of the Academy

Ngay hoi nghe nghiep HVTC anh 2

Numerous students came to AASC’s camp to explore about AASC, auditing profession and career opportunity at AASC

Ngay hoi nghe nghiep HVTC anh 3

Students submitted their application dossier to vacations at AASC – the leading firm among Vietnamese Auditing Firm

BBT

Monday, 11 November 2013 09:14

Opening ceremony of AASC in Quang Ninh

On the morning of November 08, 2013, AASC Auditing Firm organized the opening ceremony of AASC Branch in Quang Ninh. The ceremony was honored to welcome distinguished guests: Assoc. Prof. Dr. Dang Thai Hung – Director of Accounting and Auditing Policy Department, Assoc. Prof. Dr. Tran Van Ta – Former Permanent Deputy Minister of Ministry of Finance (MOF) and Chairman of Vietnam Association of Certified Public Accountants (VACPA), AASC’s clients such as Vietnam National Coal and Mineral Industries Holding Corporation Limited and leaders of Quang Ninh Department of Taxation, AASC’s Board of General Directors, Managers of Departments and all members of AASC Branch in Quang Ninh.

At the meeting, Assoc. Prof. Dr. Dang Thai Hung congratulated and complimented AASC Auditing Firm and AASC Branch in Quang Ninh on the accomplishments and contributions to the development of Vietnamese Independent Auditing profession. The opening ceremony of AASC Branch in Quang Ninh is the bright example for the stable development of AASC Representative in Quang Ninh province since the transformation of AASC from a State owned enterprise to a Limited Company with more than two members. Director Dang Thai Hung also expressed his trust in and support to AASC Auditing Firm for the aim of continuously maintaining the leading position among Vietnamese Auditing Companies, as well as become the bright sample of leading the way of step-by-step development to be on par with Big 4 Auditing companies operating in Vietnam.   

In addition, at the meeting, Chairman of VACPA, Assoc. Prof. Dr. Tran Van Ta expressed his delight of the rapid development of AASC Branch in Quang Ninh since its first establishment in 2007 and the development and popularity of AASC Brach nationally and internationally. Chairman Tran Van Ta gave valuable advices and recommendations on improving professional quality services of AASC provided to clients, promoting continuously Company’s advantages in Construction Audit, diversifying services, expanding the market and building clients’ trust. In addition, Chairman Tran Van Ta hoped that AASC continues to achieve more success and deeply integrate in Accounting, Auditing, Financial Consultancy and Tax services regionally and internationally.

On behalf of Board of General Directors of AASC Auditing Firm and Board of directors of AASC Brach in Quang Ninh, Chairman of Members Board, General Director Ngo Duc Doan sent a sincerely thanks to all the guest who attended the ceremony and gave supports to AASC Auditing Firm. AASC commits to continue investing deeply and widely in AASC Branch in Quang Ninh, increase the scope and quantity of services as well as satisfy all quality services requirements of clients. Although there are still many difficulties and challenges ahead, AASC is confident that with the leading of Board of General Directors, the consensus and enthusiasm of all leaders, auditors and staff, AASC Branch in Quang Ninh and AASC Auditing Firm will continue developing strongly and achieve high-level of Auditing and Accounting profession in Vietnam.

Photos of the ceremony   

Thanh lap AASC Quang Ninh anh 1

Assoc. Prof. Dang Thai Hung – Director of Accounting and Auditing Policy Department made speech at the ceremony

 

Thanh lap AASC Quang Ninh anh 2

 Assoc. Prof. Dr. Tran Van Ta –  Chairman of VACPA shared experiences at the ceremony

 

Thanh lap AASC Quang Ninh anh 3

Chairman of the Member Board, General Director Ngo Duc Doan announced and present flowers to new appointed leaders

 

Thanh lap AASC Quang Ninh anh 4

AASC and AASC Branch in Quang Ninh Board of Management

BBT 

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