VACO Becomes Member of Worlddâs Leading Audit Agency
Vietnam Auditing Company announced Monday it has completed necessary procedures to become a member of the world’s leading auditing agency, Deloiitte Touche Tohmatsu, state media reported Tuesday.
VACO, a one-member company under the Finance Ministry, is changing into a two-member company independent of the ministry.
VACO, also named Deloitte Vietnam, hopes to improve transparency and boost financial and capital markets, in a booming phase with over 110 per cent growth since the ASEAN country joined the WTO in November.
Accounting and Auditing Service and Consulting Company (AASC) plans to sell 20 per cent of state-owed shares to outside individual investors, and 8 per cent to general directors.
AASC now has registered capital of VND9.7 billion (US$606,250), equivalent to 970,000 stake.
Vietnam faces a serious shortage of auditors while its stock market is booming. (The People, VNA)
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