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CPA Australia supports corporate governance in Vietnam
The accounting body CPA Australia and the Vietnam Association of Certified Practising Accountants held a seminar in Ho Chi Minh City Wednesday to provide their members with an the importance of good corporate governance in Vietnam.
“Good corporate governance is critical for long-term business success and sustainable growth,” said Mr. Paul Wappett, CPA Australia executive general manager, international development.
“Good corporate governance reduces business vulnerability in a financial crisis and boosts investor confidence,” he added.
“It can also mean easier access to finance and capital markets – a key factor for survival in tougher economic times.”
Mr. Wappett said businesses which could not demonstrate good corporate governance were often overlooked by potential investors.
According to him, a decade ago, the term corporate governance was barely heard but today it is a part of everyday business language.
“Corporate governance is a dynamic force that keeps evolving. The challenge of businesses in Vietnam and around the world is to ensure their principles are up to date and remain relevant.”
The seminar was also co-held by Australia’s Swinburne University of Technology. The workshop will be repeated in Hanoi on June 25.
CPA Australia is one of the world’s largest accounting bodies with a membership of over 122,000 finance, accounting and business professionals working across the world. It is also a member of the Australian Stock Exchange Corporate Governance Council, which has developed the principles of good corporate governance.
July 2009 will mark the first anniversary of CPA Australia’s official presence in Vietnam with the opening of its two representative offices in Hanoi and HCMC in July 2008.
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