Vietnam to launch biggest audit of state conglomerates

The State Audit of Vietnam will launch, some time this year, what is described as the biggest audit ever of state conglomerates, corporations and commercial banks.

The national auditing agency has announced that together with state conglomerates, corporations and banks, other organizations or projects that are using state funds, including those from Government bond sales, will be audited as well.

Vuong Dinh Hue, the country’s chief auditor, said there would be 151 entities subject to auditing this year, 11% more than last year.

They include 27 state conglomerates, corporations and banks, as well as 39 large-scale projects such as the Can Tho cable-stayed bridge in the Mekong Delta and Dung Quat Oil Refinery in Quang Ngai Province.

State utility Electricity of Vietnam Group (EVN), Vietnam National Coal and Mineral Industries Group, the Vietnam Bank for Foreign Trade (Vietcombank) and the Vietnam Bank for Industry and Trade (VietinBank) are on the list, Hue said.

Hue said auditors would focus on examining input costs at EVN’s power plants and that the Vietnam Shipbuilding Industry Group (Vinashin) would also be audited though an investigation into the giant shipbuilder and a restructuring plan for it were still underway.

Tags: Vietnam companies, Vietnam enterprises, Vietnam SOEs

Posted by VBN on Mar 17 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry