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Thursday, June 30, 2022

Finance Ministry joins hands with JICA to enhance IFRS application

The Saigon Times

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HCMC – The Accounting and Auditing Supervisory Department (AASD) under the Ministry of Finance and the Japan International Cooperation Agency (JICA) on May 25 jointly organized a workshop on the application of International Financial Reporting Standards (IFRS) in Vietnam to support related entities from the very first steps of the IFRS application process.

The event was part of the “Promotion of Application of IFRS in Vietnam” project jointly implemented by AASD and JICA. The project is funded by the Government of Japan through JICA.

Attracting more than 600 participants from state agencies, companies, auditing firms, universities and academies, the workshop included a forum to discuss concerns and difficulties as well as find ways for the IFRS application.

According to JICA, this workshop was aimed at helping stakeholders in public, private, and academic fields in Vietnam deepen their understanding of the differences between the Vietnamese Accounting Standards and IFRS, and accelerate the exchange of opinions on the IFRS application roadmap.

“Japan is also a unique country that took the voluntary adoption approach in the early 2010s based on a series of discussions among stakeholders under public and private platforms. We strongly hope that the ‘policy communication’ among various stakeholders like today would be continued to find the best approach toward the IFRS application that aligns with the context of Vietnamese sustainable economic development,” said Kobayashi Masaya, representative of JICA Vietnam Office.

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