The internal audit function is struggling to gain credence at most banks in Vietnam, write Mr Marius Kunneke, Advisory Partner, and Mr Nguyen Viet Thinh, Advisory Senior Manager with PricewaterhouseCoopers Vietnam. Decision 37/2006/QD-NHNN issued by the State Bank of Vietnam (SBV) on August 1, 2006 marked an important milestone because it required banks operating in Vietnam to set up internal audit (IA) functions. The SBV gave commercial banks six months to implement the Decision and many established IA functions during 2007 and 2008. However, a recent survey on IA in Vietnam's banking sector by PricewaterhouseCoopers Vietnam revealed a number of IA issues currently facing banks, which are compounded by the pressure to comply with the Basel requirements on risk management and the increasing level of competition in the domestic banking market. … [Read more...] about An undetermined role
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General Giap in the eyes of colleagues
Colonel Nguyen Van Hieu, former chief of the office of the Commander-in-Chief: "I worked with General Giap in 19 years from 1949 to 1968 through the bloodiest periods of the French and American wars. As a young low-level officer who started as a head of military department in his office, I have learned so much working directly under the commander. What is special about working with him is that he usually updated us on the latest news of the war, or other diplomatic and political situations in the world then and wanted to listen to our own ideas and analysis of the situation. It is his leadership style that treats his men fairly, respectfully and gives them opportunities to develop and express themselves. General Giap's most important moments in the Battle of Dien Bien Phu, as I recall, was when he had to abort the "fast attack, fast win" strategy which could have cost serious casualties while a decisive victory was not ensured. Making a historical decision to retreat 50,000 … [Read more...] about General Giap in the eyes of colleagues