THE FASS FORUM VIETNAM 2010

The Finance and Accounting Skills Standard (FASS) Forum Vietnam 2010 was held at Melia Hotel in Hanoi on 24 November 2010. Nearly 200 delegates attended.

Mr. Nguyen Ngoc Bach, the founder and director of Vietnam CFO Club, Mr. Hiroshi Yaguchi, Chairman of IAFEI for 2011 and founder and Executive Director of the Japan Association of CFOs (JACFO), and Dr. Nguyen Trong Hieu, Deputy Director General of the Agency for Enterprise Development Ministry of Planning and Investment in Vietnam, delivered their opening remarks and welcomed the participants to the forum.

The theme for the FASS Forum was “The Asian CFO Amidst the Financial Turbulence”. The FASS Forum provided an opportunity for cooperation among CFOs in Asia by sharing experiences in building effective measures to prevent and minimize risks for businesses to deal with the recent global financial crisis.

Dr. Le Dang Doanh, Senior Fellow of the Economic College of Hanoi National University and member of the Scholar Board of Central Institute of Economic Management, talked about the “Vietnam 2011 Economic Outlook”. Vietnam’s economy has significantly improved for the past two years. However, problems such as inflation, budget deficit, increasing public and foreign debt, international trade deficit and current account deficit, need to be addressed by strengthening the reformation process and implementing economic reforms to achieve continued economic growth in the future.

Mr. Tadashi Ishida, Senior Research Fellow of Japan CFO Association and a Japanese CPA, based on his 25 years of experience as an independent auditor and another 13 years of experience as the CFO of Japanese public companies, presented “Corporate Governance in the Private Sector and the Role of the CFO”. His topic included the reality and challenges of corporate governance system in the listed companies of Japan, the historical background of the Japanese company’s adoption of the currently observed corporate governance system and the role of the CFO of a public company from the corporate governance perspective.

Mr. Duong Hai, Standing Vice Director of Vietnam CFO Club and Partner of Vietnam Partners, LLC, Ho Chi Minh City Chief Representative Officer, presented “Enhanced Function of CFO and Risk Management”. He discussed the changing roles of the CFO in a new environment,

how the role of the CFO is changing and the CFO’s role in risk management. Also discussed were the “red flags” or signals of weak risk management in finance and recommendations to improve it.

Nguyen Ngoc Bach, Director of Vietnam CFO Club and Chairman and CEO of AsiaInvest Group, presented the “IAFEI Global Accreditation Project”. This IAFEI initiative aims to establish a globally recognized accreditation system for finance and accounting professionals to support the certification and/or qualification activities implemented by the IAFEI member institutes. Based on a globally recognized Finance and Accounting Skill Standards (FASS), this qualification program will assist in developing financial and accounting professionals in Asia and improve the mobility of human resources across borders in the region then across continents. This will also serve as a tool for employers to measure proficiency of employees and an opportunity for finance and accounting professionals to demonstrate their proficiency.

Mr. Hiroshi Yaguchi, Chairman of IAFEI for 2011, Founder & Executive Director of Japan Association for CFOs talked about “Utilizing FASS as Asia Common Platform for Future Improvement”. Mr. Yaguchi presented the implementation plan for the Asia FASS Project in IAFEI member institutes in Asia.

 

 

 

From left to right: Dr. Le Dang Doanh – Vietnam Economic Expert; Mr. Tadashi Ishida –Japan Economic Expert; Dr. Nguyen Trong Hieu – Deputy Director of Business Development Department, Ministry of Planning and Investment, Mr. Duong Hai – Standing Vice Director of VCFO

 

 

From left to right: Mr. Tran Van Ta - Chairman of Vietnam Association of Certified Public Accountants, former Deputy Minister of Finance, Mr. Hiroshi Yaguchi - IAFEI Chairman for 2011 & President JACFO; Dr.Han Manh Tien - Chairman of Vietnam Association of Corporate Directors ; Mr. Nguyen Ngoc Bach - VCFO Director, CEO of AsiaInvest Group.