The Vietnam Association of Certified Public Accountants (VACPA) and the Institute of Singapore Chartered Accountants (ISCA) sign Memorandum of Understanding to Launch the ISCA Audit Manual for Standalone Entities in Vietnamese

25 October, 2019 - Building on their long-standing relationship, ISCA and VACPA have signed a Memorandum of Understanding (MoU) on their collaboration to launch the ISCA Audit Manual for Standalone Entities in Vietnamese in Hanoi.

Under the terms of the  MoU,  VACPA  may translate, publish and distribute the “ISCA Audit Manual for Standalone Entities (AMSE)” in Vietnam. The AMSE is aimed at facilitating  the auditor’s thinking process, which is critical in  performing an audit. 

The audit methodology used in AMSE is aligned with the International Standards on Auditing (ISA) issued by International Auditing and Assurance Standards Board (IAASB).  It is a risk-based approach which focuses on the key risk areas in an audit engagement. It encourages engagement teams to design customized audit procedures based on identified audit risks and adopt a more targeted approach. To date, more than 90% of the 680 small and medium practitioners in Singapore have adopted the AMSE.

The manual provides more information to help Vietnamese SMPs and VACPA members  have a better understanding of how to conduct an audit in accordance with  international auditing standards and supports the development of VACPA's technical documents such as Audit Manual of VACPA. With this initiative, VACPA members  will be equipped with useful knowledge and suggestions to improve aspects of audit activities such as laws and regulations.

Speaking at the signing ceremony, Mr Pham Sy Danh, VACPA President said: “This MoU makes an important contribution in supporting, improving the quality and reputation of VACPA members, and is a critical step in VACPA’s strategic development plan.  International collaboration is the shortest, quickest and most sustainable approach to integrate the accountancy profession. ISCA was one of the professional bodies we aligned with to start our international cooperation. And together, we have significantly contributed to shaping the profession in Vietnam as well as to the development of VACPA.”

ISCA President Mr Kon Yin Tong said “We are pleased to partner VACPA in rolling out the ISCA Audit Manual for Standalone Entities in Vietnam. In particular, we hope that auditors in small and medium practices  can use AMSE as a guide to facilitate their audits, thereby helping to uplift audit quality  in Vietnam.” 

To mark the significance of the MoU, ISCA member and Audit Partner from R Chan & Associates PAC, Ms Magdalene Ang, delivered a presentation related to the overview and audit methodology of AMSE to 59 Vietnamese audit practitioners, university professors and government officials after the MOU signing ceremony.  



The Vietnam Association of Certified Public Accountants (VACPA) was established on 15 April 2005 in response to the development requirements of accounting and auditing profession in Vietnam. VACPA is an independent professional organization of certified public accountants and audit firms in Vietnam. Its operation follows the criteria and development trend of international CPA organizations.

As a member of International Federation of Accountants (IFAC) and The Confederation of Asian and Pacific Accountants (CAPA), with more than 2100 individual members and nearly 150 firm members, the objectives of VACPA are to maintain and develop accountancy profession, improve the quality of accounting, auditing and financial advisory services in Vietnam through training, technical update, technical assistance, providing information, monitoring professional ethics and service quality for its members and participation in building legal documents.

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About ISCA

About the Institute of Singapore Chartered Accountants

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. ISCA’s vision is to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community. There are over 32,000 ISCA members making their stride in businesses across industries in Singapore and around the world.

Established in 1963, ISCA is an advocate of the interests of the profession. Possessing a Global Mindset, with Asian Insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards Singapore’s transformation into a global accountancy hub.

ISCA is the Designated Entity to confer the Chartered Accountant of Singapore - CA (Singapore) - designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

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Trích nguồn: VACPA
Số lượt đọc: 862

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