VietNamNet Bridge – Besides eight state groups which will be
audited in 2013, at the proposal of the State Audit Agency, the National
Assembly’s Finance Committee on September 12 requested audits of three other
groups, which have many issues of public concern. They are the Vietnam Oil and
Gas Group (PetroVietnam), the Electricity of Vietnam (EVN) and the Oil and Gas
Import-Export Group (Petrolimex).
Strengthening audits at
ministries, sectors, state-owned corporations and commercial banks is an
important goal set by the State Audit Agency in 2013 in a plan which was
submitted to the National Assembly on September 12.
The 2013 Audit Plan is the second
content discussed in the first day of the 11th session of the National Assembly
Standing Committee on September 12.
State Chief Auditor Dinh Tien
Dung said that next year, the State Audit Agency would strengthen auditing of
objects related to the restructuring of the economy, especially the projects
serving the management and implementation of restructuring public investment.
The State Audit Agency will focus
on inspecting state-owned economic corporations, state-owned commercial banks
that serve the restructuring of the economy associated with innovation of
growth model. Specifically, the agency will audit all corporations, commercial
banks in the period from 2013 to 2015 to timely provide information for
restructuring activities.
In addition to auditing the
annual financial statements of the Bank for Social Policies, Deposit Insurance
of Vietnam under the provisions of the Government, the State Audit Agency will
work at 29 units, including 8 economic groups (four folds over 2012) in 2013.
The audited agencies will have
the units which are audited in 2012, to assess their financial situation,
management and production efficiency, especially the effectiveness of their
investment in non-core businesses in order to make recommendations to the
Government and the National Assembly to direct the restructuring.
The audit agency will also assess
the conduct of the monetary policy, which focuses on the management of interest
rate, foreign exchange rate, refinancing loans; evaluate the use of the state
foreign exchange reserves fund and credit activities (overdue loans). The
results of the implementation of some solutions to solve difficulties for
business will also be content for audit at state-owned corporations and
state-owned commercial banks.
Along with the business sector,
the State Audit Agency will work at the ministries, sectors and provinces which
have not been audited in 2012 and a number of ministries and agencies that are
audited in 2012, but having large-scale budget.
The major fields for audit in
2013 will consist of the use of capital from the government bonds in the period
of 2010 - 2012; health insurance policies for the poor; land use and
management, real estate, housing and urban development.
In addition, in 2013, the State
Audit Agency will continue auditing the Deposit Insurance Fund, the Fund for
Science and Technology Development in 2011-2012.
Examining the State Audit
Agency's 2013 plan, the NA Committee for Finance and Budget recommended the
agency to rotate audit over the agencies that use the state budget, but avoid
creating a precedent of auditing one agency every two years and to give
priority to annually audit the ministries, agencies, localities that have large
budget spending and revenues.
For the corporate sector and
banking and financial institutions, the Committee proposed to focus audit on
large-sized corporations and groups using a lot of state capital and assets,
and produce exclusive goods that highly affect production and life, such as
electricity, coal, petroleum ... from which to make comprehensive assessment to
help the National Assembly, the Government have reasonable policies in the
process of implementing the project to restructure state-owned enterprises.
The Committee also requested the
State Audit Agency to focus its efforts in auditing the monetary policy, the
process of merger and restructuring of commercial banks, the financial
situation of State-owned commercial banks after restructuring.
In addition to the subjects
mentioned in the draft audit plan 2013, the Committee proposed to make audit at
loss-incurred businesses, those that face risks of disruption and businesses
that had plummeted business results in recent years.
The committee also requested the
State Audit Agency to add to the audit plan in 2013 a number of state-owned
economic groups with newly emerging issues that are the public concerns, for
example PetroVietnam, EVN and Petrolimex.
For financial and banking
institutions, the NA inspection agency asked the audit agency to focus on
evaluating the effectiveness of the monetary and credit policies; the trade and
management of foreign exchange and interest rate; bad loans; the use of capital
granted by the State Bank of Vietnam for credit institutions; the cash flow
after the merger; the implementation of the current regulations on capital use
of state-owned commercial banks and financial joint stock companies.
Compiled by Thu Ha
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