On 02 November 2022, the launching ceremony for the Institute of Internal Auditors in Vietnam (IIA Vietnam) was held at The Reverie Saigon Hotel in Ho Chi Minh City.

The ceremony welcomed the attendance of representatives from the Ministry of Finance, Ho Chi Minh City Stock Exchange, the Supervisory Board/internal auditors of State-owned companies, listed companies, and professional associations. The ceremony also welcomed leaders of IIA International and IIA members in Vietnam.

The launching ceremony for the IIA Vietnam

Mr. Hoang Hung, president of IIA Vietnam emphasized that “the launch of IIA Vietnam as an official member of IIA Global is a turning point in the development of the internal audit profession in Vietnam in particular and of corporate governance in the country in general”.

At the ceremony, Mr. Nguyen Ngoc Thanh, Deputy General Director of A&C, and Vice President of IIA Vietnam reported the survey on the actual internal audit in Vietnam, in which the listed companies and enterprises with more than 50% State capital involved. The survey results show that the enterprises have performed the internal audit, even so the independence and position of this profession has not been secured. Up to 22% of surveyed enterprises which are currently listed on Ho Chi Minh City Stock Exchange (HSX) answered that this department still operates in form of concurrence or directly involves in operations.

Mr. Nguyen Ngoc Thanh, Deputy General Director of A&C, and Vice President of IIA Vietnam
reported the survey on the actual internal audit in Vietnam

A&C accompanies the launching ceremony for the IIA Vietnam

Congratulations on the official establishment and operation of IIA Vietnam. Thanks to the close cooperation with IIA Global, IIA Vietnam is expected to play a strategic role in connecting and setting a legal framework that will support internal auditors in Vietnam to develop and practice professionally in accordance with the globally accepted internal audit standard. Thereby, internal audit and corporate governance competency in Vietnam will be improved.