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ECONOMYBANKING & FINANCE

State Audit expected to be an effective tool in public asset management

Updated at Sunday, 05 Feb 2017, 09:52
The Hanoitimes - Meeting with staff of the State Audit Office of Vietnam in Hanoi on February 2, Prime Minister Nguyen Xuan Phuc said the Government hopes the agency will become an effective tool of the Party and State in financial and public asset management.
Prime Minister Nguyen Xuan Phuc (PM) visited and worked with the State Audit Office of Vietnam (SAV) in Hanoi on February 2. 
Prime Minister Nguyen Xuan Phuc speaks at the meeting.
Prime Minister Nguyen Xuan Phuc speaks at the meeting.
At the meeting, SAV Auditor General Ho Duc Phoc reported auditing has helped fine-tune regulations, policies and laws, contributing to the fight against corruption and wastefulness.
The SAV has proposed penalties for hundreds of violating collectives and persons, transferred many cases to investigation agencies and provided documents for authorised bodies to implement examination, supervision and legal proceedings.
The agency was successful in auditing the restructuring and assessment of the value of State-owned enterprises, helping protect the State’s benefits before equitising these firms, Phoc noted.-
Speaking at the meeting, the Government leader highlighted successful auditing activities, especially the recovery of more than 115 trillion VND (5.08 billion USD) for the State budget.
The SAV’s activities have won increasing support from the Party, State and people, he added.
Talking to SAV staff, he said the Government expects the agency will become an effective tool of the Party and State in financial and public asset management.
The agency has also found loopholes in state management through its activities, which helps the Government solve shortcomings, he noted.
The PM exressed his wishes that the SAV will become an incorruptible, facilitating and action-oriented part of the Government.
As the SAV prevents the misuse of power in financial and state asset management, it should strengthen its apparatus, enhance its capacity and professional etiquette.
The Cabinet leader requested the SAV to be proactive in development while pressing ahead with policy research to give suggestions to the Government and other agencies.
The agency should also step up its administrative reform and cut down auditing time to better serve people and businesses, he added.
The PM asked the SAV to boost international cooperation to learn from other countries, helping improve its capacity.
Translated by Thu Minh
Source: Nha Trang-Kinhtedothi.vn
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