tailieunhanh - Assessing the performance of the internal auditing functions in Vietnamese construction corporations

This paper seeks a proper way to answer the question: “What is the current performance of the Internal Audit Function in these Vietnamese Construction Corporations?” Based on the identified findings and reasons, this paper proposes some relevant suggestions. | VNU Journal of Science: Economics and Business, Vol. 31, No. 2 (2015) 63-76 Assessing the Performance of the Internal Auditing Functions in Vietnamese Construction Corporations Phan Trung Kiên* ác National Economics University, Hanoi, Vietnam, 207 Giải Phóng Road, Đồng Tâm Ward, Hai Bà Trưng District, Hanoi, Vietnam Received 18 March 2015 Revised 16 June 2015; Accepted 29 June 2015 Abstract: An Internal Audit (IA) Function has been officially established in some Vietnamese large companies since 1997. Because of special features, there have been more big companies operating in the construction industry than in other industries. However, an IA function has existed in a few companies only (. Construction Corporation “90”). When operating in Vietnamese Construction Corporations (VCCs), the IA function faces many problems in terms of performance and structure. These problems include: inconsistency in performing audit content; more focuses placed on information rather than areas that need to be audited; and failure to apply any principles or standards in the auditing work To solve these problems, the performance of the IA function needs to be objectively appraised. This paper seeks a proper way to answer the question: “What is the current performance of the Internal Audit Function in these Vietnamese Construction Corporations?” Based on the identified findings and reasons, this paper proposes some relevant suggestions. Keywords: Performance measurement, internal audit function, Vietnamese construction corporations. 1. Introduction* of Finance combined with the General Statistics Office to issue the Policy of Accounting Code, the Journal System, and the Accounting Report System. These legal documents were associated with IA techniques. In 1988, the Government approved the Ordinance of Accounting and Statistics that says a chief accountant is regarded as a state controller in a state-owned business. Before 1996, Vietnam had not issued any legal documents directly .