State Audit Law helps improve financial transparency

(VOVworld)-The Law on State Audit has contributed greatly to streamlining the public financial system, according to a workshop in Hanoi on Tuesday to review the enforcement of the law. Reports delivered at the meeting showed that the State Audit of Vietnam has handled 3.8 billion USD over the past 7 years while the quality of auditing has been taken up a notch. Participants agreed on the need to revise the audit law in line with international practices and standards. Dang Van Thanh, former Vice Chairman of the National Assembly’s Committee on Economy and Budget suggested: “The State Audit serves as a tool to inspect the state’s financial affairs, representing the power of the people. The draft amendments to the Constitution should include the State Audit in the category of people’s court and people’s procuracy to define the independence of the agency as well as its relations with the National Assembly and people’s councils.”

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