Ifrs advisory council

Vietnam will officially adopt International Financial Reporting Standards (IFRS) from 2016 in its efforts to enhance comparability and improve transparency. This information was revealed at a seminar held in Hanoi on April 21 on accounting standards updates for businesses. The seminar was organised by the Hanoi and Hochiminh stock exchanges in collaboration with the Ministry of Finance. "Shortening the gap between Vietnamese and international accounting standards is part of the country's consistent policy of deeper integration into ASEAN and world markets," said Vu Thi Kim Lien, Chairwoman of the Corporate Governance Advisory Council on the Hanoi Stock Exchange. She said that the new standards would drive Vietnamese companies to enhance financial transparency and improve risk controls for better asset management. This would not only generate profits for businesses but also contribute positively to the country's economic performance, she added. Finance Ministry officials informed the … [Read more...] about Bản in : Vietnam to adopt int’l financial reporting norms in 2016