Speaking at the signing on April 18, 2012, Finance Minister Vuong Dinh Hue said the agreement is a piece of evidence of close co-operation between the two countries.
The ACCA will support the Ministry of Finance in providing high quality services, help train its members, provide update professional knowledge, and ensure a high standard of qualified members.
The ACCA also committed to fully funding scholarships for MoF staff to attend ACCA courses. This will help the country to build up a workforce of experienced accountants and auditors of international standard and close the gap between Vietnam and other countries in the accounting and auditing fields.
The agreement will take effect in five years from April 18, 2012 and will replace the memorandum of understanding signed on December 6, 2003, extended on January 12, 2009.
It marks a new phase of development after 10 years of the ACCA and the MoF pursuing their target of “internationalising” Vietnamese auditors, helping the country integrate more into the region and across the world.