Developing external audit in Vietnam in economic integration context

Abstract

The aim of the paper is to assess the situation of external audit in Vietnam in recent years and to propose solutions
to develop external audit activities in the coming years. Over the last 26 years, external audit in Vietnam has made
achievements in terms of increasing in the number of audit firms and clients, diversifying services, developing
cooperation and integration of audit firms and professional bodies and improvement of legal framework. However,
there are still some shortcomings in audit firms’ size and human resources, audit quality and competitive capability.
The paper suggests measures to audit firms, government authorities and professional organisations to improve
the firms’ human resources and audit quality control process, accounting and auditing standards and strenthen
international integration process.