Auditors have uncovered VND13.774 trillion (US$706 million) in financial
wrongdoings at state organizations in 132 audits in 2010, according to the
State Audit Office of Vietnam
which also said it would scrutinize Vinashin and EVN this year.

During an audit conference organized Monday in Hanoi, the Office also
said it would intensify auditing across sectors and fields at state levels in
2011.

Big state-owned conglomerates to be under microscope include
the Vietnam Electricity Group (EVN), Vietnam Shipbuilding Industry Group
(Vinashin), and Vietnam National Coal and Minerals Holding Corporation Limited
(Vinacomin).

The central auditing agency will focus on financial aspects
at Vinashin in order to facilitate the group’s restructuring, auditor-general
Vuong Dinh Hue city said.

At the other two groups, EVN and Vincomin, it will calculate
electricity and coal prices based on which a market-oriented quotation will be
set, he added.

State auditors will also check on state budget in 2010
together with state assets at 20 ministries and central agencies, and across 34
cities and provinces, according to Hue.

They will audit reports on 39 projects including the Dung
Quat oil refinery No.1 and Thu
Thiem Bridge.

Other tasks include inspections at the Ministry of
Transportation and Ministry of Health regarding their expenses on road and
railway repair work, and the use of ODA sources between 2008 and 2010.

A comprehensive review of the government’s price
stabilization fund dedicated to fuel will also be carried out following
complaints about its effectiveness.

State budget to get
audit priority

The State Audit of Vietam (SAV) will give priority to
auditing the State budget this year, according to remarks made at a conference
in Ha Noi yesterday.

The agency said it would keep a close eye on all fields,
ranging from projects which have been invested in by the State budget, capital
utilisation, the management of State-owned groups and enterprises and projects
that are being financed by banking institutions.

The audit will provide information to the Communist Party
and National Assembly.

The group will carry out 151 inspections this year in 34
provinces and cities and at 20 ministries and central-level agencies. The SAV
will also process five special audits, while monitoring 28 groups, businesses
and financial-banking institutions. The group will also audit 39 building
projects, eight national target programmes and 16 offices in the national
defence and security sectors, which will be a year-on-year increase of 15.2
percent.

SAV ‘s Chief Auditor Vuong Dinh Hue said they will audit
Electricity of Viet Nam (EVN); mining giant Vinacomin, in order to provide a
basis for the calculation of prices of power and coal according to market
mechanism; and Viet Nam Shipbuilding Industry Group (VINASHIN) will all be
audited.

Hue
said the agency will focus on improving the professional skill and political
spirit of auditors as well as promoting and diversifying the application of
information and technologies in tandem with simplifying administrative
procedures in the auditing sector.

Speaking at the conference, the National Assembly (NA)’s
vice chairman Nguyen Duc Kien asked the agency to specify tasks and accelerate
strategies to develop the auditing sector by 2020.

The agency’s activities should be congruent with the NA’s
programmes and be active in implementing its tasks, improving its role within
the State and society, Kien said.

He said SAV should pay attention to training and improving
the quality of its auditors in accordance with standards stipulated in the Law
on State Audit.

Source: Tuoi Tre/VNS