PwC inks cooperative agreement

Attending the ceremony were Vietnam’s Deputy Finance Minister Truong Chi Trung, global PwC network chief executive officer (CEO) Dennis Nally and SSC chairman Vu Bang, leaders and representatives from relevant businesses and several press organisations.

The move was to develop an early warning system for SSC to monitor securities firms. The agreement between HNX and PwC aims to support HNX in risk management, systemise key risks relevant to strategy, finance, operation, system and obedience as well as present management measures and remedies in response to such risks.

“Due heed should be paid to risk management to better confront changes in domestic and international financial-securities market as well as satisfy the demand for market quality improvements in the face of stiffer competition and deepening integration. Having in place early warning system would uphold SSC in overseeing securities firms’ performance and early detect latent risks at securities companies, from there introducing measures to tackle risks in a timely and radical manner, avoiding hurting the market,” said SSC chairman Vu Bang.

HNX director Tran Van Dung said: “HNX seeks to systematise current risk management operations and develop a comprehensive risk control framework to effectively support HNX in risk management. The cooperation between PwC and HNX contributes to bettering risk management expertise while perfecting our internal control system.”

“Integrating into the global economy brings myriad development opportunities to Vietnamese businesses as well as great challenges. Hence, to evolve in a sustainable manner, businesses need efficient risk management system parallel to a well-conceived business strategy,” said PwC Vietnam’s general director Dinh Thi Quynh Van, adding that through teaming up with SSC and HNX, PwC wished to constitute a cost-effective risk control framework to Vietnam stock market for its future sustainable growth.