Vietnam, US enhance cooperation in management accounting
Saturday, 2017-04-15 06:01:43
NDO – The US-based Institute of Management Accountants (IMA) and the Vietnam Association of Accountants and Auditors on April 15 signed a Memorandum of Understanding (MoU) for cooperation in management accounting.
Addressing the signing ceremony, Associate Professor, PhD Dang Van Thanh, the VAA’s President said that management accounting is one of the oldest accounting professions in the world.
As the market economy develops, it is highly essential to enhance information to serve the corporate governance in order to help enterprises avoid unnecessary risks and improve the efficiency of governance, he added.
This MoU aims to enhance the support between the two agencies in sharing and updating experience as well as improving professional skills in management accounting.
The cooperation between IMA and VAA is expected to open up career opportunities for accounting and the financial sector in Vietnam.
Under the MoU, IMA will implement policies supporting VAA members to improve their professional qualifications according to international standards through the possession of Certified Management Accountants and other professional certificates in management accounting recognised worldwide.
In addition, IMA is willing to expand cooperation and develop appropriate supporting policies for members of the National Chief Accountants Club, a member of VAA.
Appreciating the bilateral cooperation between VAA and IMA, Jeffrey C. Thomson, President and CEO of IMA, emphasised that IMA wishes to cooperate with Vietnam to promote the development of this field in Vietnam. The signing ceremony for the MoU was an important milestone and the first steps toward the development of management accounting in Vietnam, he noted.
On the occasion, a seminar themed ‘Internal Control and Risk Management: Key to improve corporate governance’ was held, with Jeffrey C. Thomson as the main speaker.