Vietnam to Audit 6 State Groups and 4 Banks in 2013

Vietnam’s State Audit is seeking the National Assembly’s approval to audit 6 state corporations and 4 banks in 2013, including EVN and Petro Vietnam.

The list of the 6 corporations are: the Electricity of Vietnam (EVN), Petro Vietnam, the Vietnam National Coal - Mineral Industries Holding Corporation Limited (Vinacomin), Vietnam National Textile Garment Group (Vinatex), Vietnam Rubber Group (VRG); Vietnam Posts and Telecommunications Group (VNPT)

The four banks are: Vietnam Joint Stock Commercial Bank for Industry and Trade or Vietinbank (CTG); Joint Stock Commercial Bank for Foreign Trade of Vietnam or Vietcombank (VCB); The JS Commercial Bank for Investment and Development of Vietnam (BIDV) and Vietnam Bank for Agriculture and Rural Development (Agribank).

Airport Corporation of Vietnam (ACV); Song Da corporation are also in the list of 16 state corporations to be audited in 2013.

The NA’s Finance and Budget Committee proposed to audit big groups, corporations which are monopoly in goods that have great impacts on production and people’s life; groups, corporations which are making losses.

The Committee requests to auditors to focus on evaluating the efficiency of monetary and credit policies, gold and forex trading, the SBV’s refinance to credit institutions as well as the use of capital of commercial banks and credit institutions. SBV is subjected to be audited frequently.

In the first 9 months of 2012, state audit has conducted 50 audit cases, proposed to deal with VND2.93 trillion including raising state budget collection of VND348; reducing state budget expenses of VND664 billion and others of VND1.918 billion.

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