07:19 (GMT +7) - Monday 10/12/2018

Business

ICAEW hosts whistleblowing and corporate governance workshops

Released at: 16:30, 08/10/2018

ICAEW hosts whistleblowing and corporate governance workshops

Photo: ICAEW

Workshops held by Institute of Chartered Accountants in England and Wales in HCMC and Hanoi.

by Doanh Doanh

The Institute of Chartered Accountants in England and Wales (ICAEW) recently held workshops entitled “How Whistleblowing and UK Corporate Governance can help Vietnamese companies” in Ho Chi Minh City on October 4 and Hanoi on October 5 in cooperation with the Vietnam Institute of Directors (VIOD) and the British Embassy.

“Vietnam is ranked among the three fastest growing economies in the region and remains a place to be for foreign investors,” Mr. Mark Billington, South East Asia Regional Director at ICAEW, said in his opening remarks. “For businesses in Vietnam to upgrade their competitiveness and build trust with investors, a good whistleblowing and corporate governance system have a vital role.”

“Together, these two components will help businesses resolve internal disputes efficiently and lay the groundwork for their own sustainable development, which eventually contributes to the sustainable development of the economy as a whole. That’s why ICAEW joined forces with VIOD and the British Embassy to hold this workshop, to share useful and necessary knowledge for the Vietnamese business community.”

British corporate governance is globally respected and is a framework trusted by investors when deciding where to allocate capital. A new Code of Corporate Governance was issued in the UK in July 2018, with significant changes to make sure the nation moves with the times. This code considers economic and social issues and will help guide the long-term success of UK businesses.

“The new Code of Corporate Governance places the relationships between a company, its shareholders, and related parties at the center of sustainable long-term growth in the UK economy.”

“This Code places emphasis on businesses building trust by forging strong relationships with key stakeholders,” said Ms. Elizabeth Richards, Head of Corporate Governance at ICAEW. “The new code underscores that trust is essential in promoting transparency and integrity in business for society as a whole.”

“As businesses from Vietnam are increasingly integrating themselves with the regional and global economies, corporate governance, transparency and improved trust with investors are critical requirements,” said Mr. Nguyen Viet Thinh, CEO of the Vietnam Institute of Directors (VIOD). “We hope that by sharing the best international practices as well as the best practices of corporate governance and whistleblowing, this will help the BOD lead the business to success.”

Leading corporate governance experts from the UK and Vietnam made presentations and held discussions on two of the main topics of interest currently to businesses in Vietnam. The workshops were supported by the State Securities Commission of Vietnam and the Ho Chi Minh and Hanoi Stock Exchanges.

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