Introduction about VACPA

Over the past 20 years, independent auditing activities in Vietnam have made quick advances. An important milestone is the first Law on Independent Auditing which has been passed by the National Assembly of Vietnam on 29th March 2011. It is the supreme legal document on independent auditing to be issued in Vietnam, which enhances the status of independent auditing profession, create a stable and sustainable legal foundation for the development of independent auditing profession. From two auditing firms established in with only 15 persons, until now, there has been 170 auditing firms nationwide with 10,000 people working at 226 offices and branches. Among 170 auditing firms, there are 161 limited companies, 5 foreign invested companies, 4 partnership companies, 28 member firms of international networks, 2,044 certified public accountants who have CPA certificate awarded by the Ministry of Finance, more than 700 auditors with international qualifications.

Independent auditing is a highly professional service in the market economy, whose role is even more emphasized when the Government encourages the multidisciplinary economy, privatization of State-owned enterprises, development of securities market, international integration. The publication of audited financial statements is a must for the businesses that want to develop, issue shares and attract investment capital.

The audit quality depends on the quality of auditors. Up to now, all the auditors and auditing practice are subject to the direct management and supervision of the Ministry of Finance. Since 2000, the international organizations and auditing firms have recommended the Government authorize the management of accounting and auditing practice to the professional organizations.

To establish a professional organization to take the charge of managing accounting and auditing practice, at the request of the Ministry of Finance and on approval of the Ministry of Home Affairs, on 15th April 2005, the Vietnam Association of Certified Public Accountants (VACPA) was established in Hanoi and started to operate from 1st January 2006. On 14th July 2005, with the issuance of Decision No. 47/2005/QD-BTC, the Minister of Finance officially authorized VACPA to manage and supervise auditing practice.

From 1st January 2007, VACPA started the activities for managing the auditing profession authorized by the Ministry of Finance. This is an important milestone for a new development period of independent auditing profession in Vietnam. From that point, practitioners in Vietnam have got an independent self-regulatory professional organization. VACPA has been providing support, training, technical update, audit quality inspection, professional ethics monitoring, technical advice, experience sharing. Its activities contribute to improving the quality and credit of the members, upholding and developing accounting and auditing profession in Vietnam to regional and international level.


Full name: Vietnam Association of Certified Public Accountants


AAbbreviated name:  VACPA

Organizational principle:

VACPA is organized under the principle of centralism from the Central Executive Board directly to each member, comprising:

- Nationwide Congress held once every 4-5 years;

- Executive Board;

- Standing Board;

- Inspection Board;

- Technical Committees: Training Committee, Advisory Committee, Qualtiy Review Committee, External Affairs Committee, Member Committee and Auditing Standard Committee;

- Research and Consulting Center for CPAs;

- Head Office in Hanoi and Representative Office in Ho Chi Minh City.

Operating guidelines and objectives

Hội Kiểm toán viên hành nghề Việt Nam (VACPA) là tổ chức nghề nghiệp của những người có Chứng chỉ kiểm toán viên độc lập (CPA VN) và các doanh nghiệp kiểm toán ở Việt Nam. The Vietnam Association of Certified Public Accountants (VACPA) is the professional organization of Vietnamese Certified Public Accountants and independent auditing firms in Vietnam.

The objectives of VACPA are to assemble and unite the individuals and organizations working in the auditing profession; to uphold, develop and improve the quality of practicing auditors, of accounting and auditing services; to preserve the professional credit and professional ethics; to continuously enhance the member value in order to become a professional association that is recognized by regional and international organizations, to contribute to the transparency and publicity of economic and financial information of businesses and organizations in accordance with laws and regulations.

After 6 years of operation (2005-2011), VACPA has been achieving the objectives including increasing members in terms of both quantity and quality, increasing trust of members and auditing firms, being trusted and given more responsibilities by the state bodies (including developing auditing standards, technical materials, offering opinions for formulating legal documents…) and being recognized by the international community (being accepted as full member of Confederation of Asian and Pacific Accountants (CAPA) from June 2010), being respected and offered cooperation by reputable international professional organizations such as ACCA, CPA Australia, ICPAS, ICAEW, ICAA, CIMA, NIA, IMA, ICAI…)


-         Vietnamese certified public accountants (CPAs).

-         Auditing firms operating in Vietnam.

-         Certified public accountants and auditing firms who wish to join the Association shall submit form of application for membership.

-         Members are responsible to strictly comply with the state laws and the Association’s regulations, participate in the Association’s activity and pay membership fee, continuously upgrade the skills and competency, preserve and dignify professional ethics, contribute to enhancing the credit and fame of the Association and develop new members.

-         Members have the right to participate in the Association’s activities; to receive training, CPD; to be provided with professional information, technical advice; to participate in establishing policies, regulations; to run for election or be nominated for positions of the Association; to volunteer to exit the Association.




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