State Audit suggests financial prosecutions of nearly VND23 trillion

15:41 | 16/07/2018 Finance - Banking

The State Audit Office of Vietnam (SAV) has detected and proposed VND22,669 billion (US$974.76 million) worth of financial prosecutions in the first six months of 2018.

State Auditor General Ho Duc Phoc speaking at the meeting on July 11 - Photo: VGP

The figure was announced by the SAV at a meeting to review its six-month operations and put forth plans for the second half of this year, held in Hanoi on July 11.

According to 62 audit reports carried out in the six-month period, the proposed financial prosecutions of nearly VND23 trillion went up by 8.6 percent over the same period in 2017, including VND12.614 trillion (US$542.4 million) in increasing State budget revenues and VND8.6 trillion (US$369.8 million) in reduced State budget expenditures, in addition to other prosecutions.

The SAV also pointed out several notable audit results in recent years including the management of the VAT refund in 2017, the management and use of ODA in the 2015-2017 period, and several inadequate mechanisms and policies in the management of Vietnam Electricity and the State Bank of Vietnam, among others.

The SAV stated that one of its key tasks in the remaining six months of this year is to build an audit plan for 2019 which should ensure the target of auditing budgets of almost all Centrally-run provinces and cities, ministries and Central agencies.

A representative from the SAV said that it will concentrate on inspecting the new policies and mechanisms implemented in 2018 aligned with the restructuring of the State budget and public debt management.

Theo NDO