EY Vietnam receives Certificate of Merit from State Securities Commission of Vietnam
Under the decision No 526/QĐ-UBCK signed on 28 August 2013, Ernst & Young Vietnam Limited (EY Vietnam) was honored to receive the Certificate of Merit from the Chairman of the State Securities Commission of Vietnam (SSC) for its contribution in supporting SSC in developing risk management practice in Vietnam.
SSC’s leaders gave the Certificates at the inauguration of EY Vietnam’s brand new office in Hanoi on 3 September 2013.
For nearly 21 years operating since establishment in 1992, EY Vietnam, one of the world-leading audit, tax and advisory services firms, has committed to the growth and development of Vietnam’s external audit profession and to the development of financial and investment environment in Vietnam. Consistent to this commitment, EY Vietnam has actively supported and cooperated with State Securities Commission of Vietnam (SSC), Ministry of Finance, State Bank of Vietnam, Ministry of Investment & Planning and other Authority Offices to help companies in Vietnam step-by-step meet international standards in management and operation.
In January 2013, EY was named the best consultancy firm for the third consecutive year by Operational Risk & Regulation - a leading financial trade publication. Taking advantages of international expertise, EY Vietnam has combined global knowledge and methodologies with local understanding to deliver in-depth services and best practices to support Vietnamese companies in their risk management application in the Vietnam market.
With deep understanding of the Vietnam stock market and listed companies in Vietnam since its early days, EY has been supporting SSC in a long-term program that aims to raise the awareness and develop best practices in Vietnam on risk management and corporate governance. The program has been lasting for 3 years with several efforts both from EY local professionals and international experts. Within this program, EY and SSC has published a Risk Management Manual providing companies with basic knowledge on risk management up to international standard with the purpose of helping them to raise their awareness and provide proper attention to improve their current risk management. Following this Manual as the first step, EY conducted a survey on risk management with top leaders of listed companies to get deep insights on the current situation, challenges and difficulties and organized advanced training for specialists of SSC, HNX, HoSE and listed companies on that basis. In terms of state management, EY also supported SSC to develop regulations on risk management for listed companies and guidance on assessing and ranking securities companies.
“Risk management is a strategic management tool which helps companies to assure its reputation, assets and people as well as to create competitive advantages in a changing business environment. In the future, EY Vietnam will develop more in-depth technical cooperation with SSC to help Vietnamese companies develop and effectively use advanced management tools as such”, said Mr. Chuong Dang Phan, Partner of EY Vietnam, Director of the Coordination Program between EY and SSC.
Mr. Cuong Dinh Tran, Country Managing Partner of EY Vietnam added: “We, at EY, understand our obligation to look beyond our self-interest and contribute to build trust & confidence in the Vietnam finance market. This Certificate is a great encouragement and pride for EY Vietnam as we continue to commit to the development of financial market and risk management practice in Vietnam and strive for further great achievements in the years to come.”