Strengthening links in Vietnam
ACCA and the Vietnam Association of Certified Public Accountants (VACPA) have strengthened their links by becoming the first professional accountancy bodies in the country to sign a memorandum of understanding (MOU).
The MOU was signed on 10 December 2005, following the Asean Federation of Accountants (AFA) conference in Hanoi. VACPA and ACCA have agreed to co-operate nationally and internationally, and will work closely together on issues such as corporate governance, professional ethics, technical research, continuing professional development, professional accountancy training, education and examinations. The two bodies, together with the Ministry of Finance, will continue to co-operate on education and training through the joint examination scheme and they have also agreed to work together on regulation, and will be developing a programme of joint Continuing Professional Development (CPD) activities in Vietnam.
ACCA and VACPA will also work together to raise awareness of the accountancy profession and ACCA will provide technical support to VACPA, advising on regulatory structures for the accountancy profession, and sharing best practice in the running of a professional body - including advising on monitoring of members and ethical compliance.
ACCA Chief Executive Allen Blewitt said: "We are delighted to have signed this comprehensive Memorandum of Understanding with VACPA which will ensure that we can work closely in a number of areas, not only to develop the accountancy profession in this country but to provide opportunities for young Vietnamese to have a successful career here and on the international stage.
"This new agreement is a further development of the strong long-term relationship between ACCA and the Vietnamese Ministry of Finance. It is a very significant step forward in creating a contemporary accounting profession in Vietnam," said Allen Blewitt.