ICAEW and the Accounting and Auditing Supervisory Department (AASD) of Vietnam's Ministry of Finance have renewed their Memorandum of Understanding (MOU), strengthening their long-standing partnership and establishing a new framework for the development and delivery of a joint IFRS Training and Certification Programme in Vietnam.
The MOU was signed on 25 August 2026 at the Ministry of Finance in Hanoi by Mr Dang Quyet Tien, Director General of AASD, and Azlina Bulmer, ICAEW's Director, International Markets. The ceremony was attended by H.E. Iain Frew, British Ambassador to Vietnam, Elaine Hong, ICAEW Regional Director, South East Asia, and representatives from the Ministry of Finance and ICAEW Vietnam.
The renewed MOU builds on the achievements of the two organisations' previous cooperation, which has focused on strengthening Vietnam's accounting and auditing profession through international technical expertise, knowledge sharing, professional education, capacity building and policy dialogue.
Advancing Vietnam's IFRS journey
The development of IFRS capability is a key element of the renewed partnership. Over recent years, ICAEW and AASD have collaborated on a range of IFRS activities, including IFRS update workshops for university lecturers in Hanoi and Ho Chi Minh City in 2022. Between 2022 and 2024, ICAEW provided technical support to the Vietnam Association of Accountants and Auditors (VAA) in developing a three-level IFRS training programme, drawing on the ICAEW IFRS Certificate framework.
The new MOU takes this cooperation a step further by providing a framework for the two parties to develop and deliver a joint IFRS Training and Certification Programme in Vietnam. The programme aims to support the development of professionals with the technical knowledge, practical skills and professional capability needed to apply IFRS effectively.
This is particularly relevant as Vietnam continues to progress its IFRS implementation roadmap. The Ministry of Finance has highlighted the importance of developing the human capital needed to support the effective implementation of IFRS alongside the development of the country's accounting and financial reporting framework.
Supporting a stronger accounting and auditing profession
The renewed MOU will also support continued cooperation in areas including international experience and best practice, professional education, development of accounting and auditing standards, and emerging areas such as technology, digital transformation, corporate governance and sustainability reporting.
Over the course of the previous MOU, ICAEW and AASD have worked together on a range of professional activities, including an international seminar on audit oversight in 2022, a discussion on government financial reporting in 2023, a dialogue on university accounting and auditing education in 2024, and activities supporting the implementation of new accounting and auditing regulations in 2025. ICAEW has also provided AASD with international technical resources, research materials, international experience and professional materials to support policy development and the strengthening of Vietnam's regulatory framework.
Supporting Vietnam's international financial ambitions
Vietnam is experiencing significant economic development and is advancing its ambition to establish International Financial Centre. Strong and internationally connected accounting and auditing professions are an important part of this ambition. High-quality financial reporting, internationally recognised standards, skilled professionals and strong governance all contribute to investor confidence and competitive financial markets.
Commenting on the signing, Azlina Bulmer, ICAEW's Director, International Markets, said: “Today's signing is the continuation of a successful partnership built on trust, shared purpose and practical collaboration.”. She added that ICAEW looks forward to continuing to work with the Ministry of Finance and AASD to strengthen Vietnam's accounting and auditing profession, support effective IFRS implementation and contribute to the development of internationally competitive financial markets.
H.E. Iain Frew, British Ambassador to Vietnam, welcomed the renewed cooperation, highlighting the importance of professional standards, technical capability and IFRS education in developing internationally recognised skills among Vietnamese finance professionals. ICAEW also recognises the continued support of the UK Government and the British Embassy in Vietnam in strengthening UK–Vietnam cooperation in finance, accounting and professional services.
A new chapter in a long-standing partnership
The renewed MOU provides a strong foundation for the next phase of cooperation between ICAEW and the Ministry of Finance of Vietnam. Building on years of technical collaboration and professional development, the two organisations will now work towards developing and delivering the joint IFRS Training and Certification Programme, while continuing broader cooperation to strengthen professional capability and support Vietnam's international integration.
The partnership reflects ICAEW's long-term commitment to Vietnam and its ambition to support the development of a strong, internationally connected accountancy profession that contributes to the country's continued economic development and international financial ambitions.