26/10/2020 09:40 GMT+7 Email Print Like 0

State Audit Office contributing to comprehensive socio-economic renewal

The State Audit Office of Vietnam (SAV) has made a range of contributions to and affirmed its role in the country’s comprehensive socio-economic renewal process for more than 20 years.

Assuming the role of Chair of the Asian Organisation of Supreme Audit Institution (ASOSAI) for the 2018-2021 term expresses the recognition from international friends of the capacity the SAV possesses.

From a Government office to an agency elected by the National Assembly (NA), the SAV has continuously affirmed its vitally important legal status, which is stipulated in the Constitution 2013.

The office’s two-decade journey of formation and development has always been closely connected to the nation’s renewal and integration cause, and conforms to Party and State policies.

The State Audit Development Strategy to 2020, approved by the NA Standing Committee in 2010, sets the target of turning the SAV into an important office supervising public finance and assets, with prestige and responsibility and able to fulfil all tasks assigned to it by the Party, State, and people.

Vice Chairman of the National Assembly, Phung Quoc Hien, said the agency’s operations over recent years have actively contributed to verifying the annual State budget balance.

The SAV has made every effort to resolve issues that arise when auditing State management in the new period of national development, such as investment in basic construction and spending related to financial activities.

Specifically, the control exerted by the SAV has helped increase budget revenues and cut unreasonable expenses. The larger volume of data released by the agency over the past year made financial, budgetary, and public asset management more transparent and effective, thus serving as a foundation for the legislature to make more accurate decisions on fiscal and monetary policies as well as other important issues. The SAV has also contributed to building and perfecting the legal framework, particularly in the financial and budgetary spheres.

In recent years, along with comprehensive renewal, Vietnam has stepped up its extensive international integration and contributed actively to multilateral mechanisms. As a responsible member of regional and global cooperative mechanisms, it has successfully hosted many major international events, such as the World Economic Forum on East Asia in 2010, the 132nd International-Parliamentary Union (IPU) Assembly in 2015, the APEC Economic Leaders’ Meeting in 2017, and the 26th Asia-Pacific Parliamentary Forum (APPF) meeting in 2018.

The success of these events not only affirms the importance of a multilateral forum or a regional or global cooperation mechanism, but also increases Vietnam’s role and standing in the international arena.

The SAV has also joined hands in intensifying the country’s external affairs. Hosting the 55th meeting of the ASOSAI Governing Board helped improve the external activities of the State, including those of the legislature.

The NA’s Standing Committee has issued a resolution on the development strategy for the SAV in the 2021-2030 period.

The resolution highlights the view that the SAV, as an agency set up by the NA, will operate independently and in accordance with the law, upholding the core values of Independence - Integrity - Professionalism - Prestige - Quality, and contributing to the development of stable, sustainable, and transparent national finances.

The development of the SAV should match the actual situation in the country, while meeting the requirements of international integration process and following international principles and practices in the field.

The resolution sets overall targets for developing the SAV into an effective and important tool of the Party and the State in inspecting and supervising the management and use of public finances and assets, enhancing the accountability and transparency of agencies funded by the State budget, effectively serving the operations of the National Assembly and the Government, and supporting local People’s Councils and People’s Committees in management, supervision, and decision-making./.
VNA/VNP