State Audit eyes four banks and five securities firms

March 25, 2015 | 16:23

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The State Audit Office of Vietnam (SAV) has states its plans to audit four banks and five securities companies this year during a press conference on the State Audit Plan 2015, held on March 20.

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The authority will examine the financial statements and activities related to the management and utilisation of State assets and funds in 2014 and the implementation of the plan to restructure credit institutions in the period of 2011-2015, concerningt Vietcombank, Vietinbank, BIDV and the Vietnam Bank for Social Policies.

In addition, five securities companies operating under banks, including Agribank Securities, BIDV Securities, Vietcombank Securities, Vietinbank Securities and MeKong Housing Bank (MHB) Securities will also be examined by the SAV, with special view to financial reports and activities related to the management and utilisation of State assets and funds in 2014.

Two insurance companies including Agriculture Bank Insurance JSC and BIDV Insurance Corporation will also come under SAV scrutiny with regard to the financial performance and activities related to the management and utilisation of the State’s assets and funds in 2014

The audit plan for these banking and financial institutions, according to the SAV representative, will focus on examining and assessing their actual situations in 2014, in light of their conduct on boosting credit growth and enhancing credit quality, the management and handling of bad debts and debt restructuring, as well as the transparency and accountability of these credit organisations.

By By Trang Nguyen

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