Vietnam, Japan audit agencies urged to lift cooperative ties

15:32 | 20/04/2018 Finance - Banking

President of the Audit Commission (AC) of Japan Teruhiko Kawato has suggested Vietnam and Japan elevate bilateral audit cooperative relations to a new height. 

President of the Audit Commission of Japan Teruhiko Kawato (L) and Auditor General of the State Audit Office of Vietnam Ho Duc Phoc in a recent meeting in Japan - Source: VNA

In a recent interview granted to Japan-based Vietnam News Agency (VNA) correspondents, Kawato highlighted the close cooperation between the AC and the State Audit Office (SAV) of Vietnam and their efforts to urge audit agencies in Asia to enhance international links.

According Kawato, the AC and the SAV has built close cooperative ties, and Vietnam’s economy is strongly developing, especially in infrastructure development – a crucial field of the auditing activities.

He stressed that the collaboration between the two agencies through capacity development and research activities has proven effective and the partnership should be developed to a new level.

Kawato expressed his belief that Vietnam, as the Chair of the Asian Organization of Supreme Audit Institutions (ASOSAI) for the 2018-2021 tenure, will successfully host the 14th Assembly of ASOSAI in September 2018. Japan, as the Capacity Development Administrator of ASOSAI, will strongly support Vietnam, he affirmed.

During the interview, Kawato also emphasised that ASOSAI aims to promote cooperation and mutual understanding among its member supreme audit institutions (SAIs) through sharing experience and knowledge in financial supervision.

The organization has also worked to enhance the quality of auditing activities through bettering auditors’ capability and supporting member SAIs, he added.

The AC President also highlighted the increasingly important role of audit institutions, saying that ASOSAI wants to make effective contributions by improving its member audit bodies’ capacity after studying their needs.

Kawato said that in order to develop the economy smoothly, transparency and accountability of administrative agencies are indispensable, and auditing bodies are responsible for assuming this important role.

Theo VNA