SAV re-signs Memorandum of Cooperation with the Party Committee of Central Agencies

The ceremony started with a review report on implementation results of the previous Memorandum of Cooperation (MoC) which was signed in 2011. Over the past eight years, the MoC had provided for a framework of cooperation between the Parties to deal with wrongdoings by individuals and organisations subordinate to the Bloc, to disseminate audit decisions, regulations and policies on state auditing, and to exchange information, documents and training activities on financial management in state companies and corporations.  
 
After that the meeting participants who are representatives from both Parties discussed on the framework of cooperation and determined specific working arrangements for the new MoC. Under the new arrangements, the Parties will closely work with a view to timely providing information regarding any signs of irregularities in management and use of public finance and public assets by individuals and organisations under the sphere of the Bloc, trading information about audit results and legal compliance, and exchanging experience and training on corporate financial management, etc.
 
Speaking at the ceremony, Phoc expressed his belief that the new MoC will create a better framework for the State Audit Office and the Bloc to discharge their respective mandate and duties in accordance with legal provisions. He stressed close consultation between the Parties particularly during the process of work planning by each Party will not only help reduce overlapping and conflicts while implementing annual work plans in each Party but also provide favorable conditions for the enterprises in their corporate operations.