Updated  
January, 23 2014 08:58:00

Audit Office to intensify inspections on restructuring

National Assembly Vice Chairwoman Nguyen Thi Kim Ngan.— Photo vov

HA NOI (VNS)  — The State Audit Office of Viet Nam (SAV) plans to intensify the auditing of economic restructuring activities this year, a conference to launch the SAV's operations in 2014 was told in Ha Noi yesterday.

National Assembly Vice Chairwoman Nguyen Thi Kim Ngan told the conference that the SAV should focus on auditing public investments, projects that use government bonds, state-owned enterprises, business groups and corporations, as well as commercial banks to ensure that capital is effectively used for restructuring.

In addition, the SAV should also monitor the implementation of government and Communist Party resolutions, she said.

Le Minh Khai, Deputy State Auditor General, noted that the office fulfilled all its targets last year. The financial figures reflected an increase from the previous year as well.

By January 10, the SAV had approved 148 out of 151 auditing reports and published 118 reports.

In 2013, the SAV also imposed financial penalties of VND16 trillion (US$758.29 million), which increased its contribution to the State budget to VND7.5 trillion. The figure also accounted for 46 per cent of the country's total administrative penalties.

The SAV also submitted 28 documents for revision, addition or removal as, in their current form, they were no longer suited to the current socio-economic environment.

Khai said the SAV proposed to fine 21 individuals and units on corruption allegations. Five of these cases are under investigation because of possible legal violations.

The SAV plans to monitor the progress of 186 planned audits this year. It aims to improve the efficiency of these audits by reducing the time taken on each audit, as well as by highlighting the risks to ensure minimum waste and avoid corruption.

Ngan urged the unit to revise the Law on Audit and submit the revised version to the National Assembly on time.

Auditing activities should be supervised by the National Assembly, the related agencies and the government, she said. The audits should be carried out using the proper techniques as well.

She added that the audit should be timely and conducted on the basis of adequate evidence to ensure the SAV is not wasting its time or resources.

She urged auditors to strictly adhere to the laws and professional ethics standards to ensure the strategy to comprehensively develop the country's audit system by 2020 is implemented. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Woman steps up in fight to tackle drugs 2    Woman steps up in fight to tackle drugs

Since for Le Thi Nga "to live is to give," she thought nothing about joining the neighbourhood watch in her fourth quarter in District 1's Cau Kho Ward in 2009.

Tan Son Nhat Airport on verge of overloading 1    Tan Son Nhat Airport on verge of overloading

HCM City's Tan Son Nhat Airport will be stretched beyond capacity in the next two years, making construction of the new Long Thanh airport in Dong Nai Province more urgent than ever, experts warn.

BIDV teams up with Japanese banks to facilitate investment BIDV teams up with Japanese banks to facilitate investment

The Bank for Investment and Development of Viet Nam (BIDV) has signed a memorandum of understanding (MoU) with two Japanese banks, namely Minato Bank and the Bank of Yokohama (BOY).

My Lai survivor writes book 1    My Lai survivor writes book

Pham Thanh Cong, 57, was one of only a dozen survivors of 1968's infamous My Lai massacre. More than four decades later, he has written a book about the mass murder, in which American soldiers killed 504 unarmed civilians.

Imported brews, grub at Ha Noi's Oktoberfest 1    Imported brews, grub at Ha Noi's Oktoberfest

A celebration of Germany's Oktoberfest will be held in Ha Noi on Thursday and Friday.