Hanoi (VNA) - The State Audit Office of Vietnam (SAV) has made a rangeof contributions to and affirmed its role in the country’s comprehensivesocio-economic renewal process for more than 20 years.

Assuming the role of Chair of the AsianOrganisation of Supreme Audit Institution (ASOSAI) for the 2018-2021 term expressesthe recognition from international friends of the capacity the SAV possesses.

From a Government office to an agency electedby the National Assembly (NA), the SAV has continuously affirmed its vitally importantlegal status, which is stipulated in the Constitution 2013.

The office’s two-decade journey of formationand development has always been closely connected to the nation’s renewal andintegration cause, and conforms to Party and State policies.

The State Audit Development Strategy to 2020,approved by the NA Standing Committee in 2010, sets the target of turning theSAV into an important office supervising public finance and assets, with prestigeand responsibility and able to fulfil all tasks assigned to it by the Party,State, and people.

Vice Chairman of the National Assembly, PhungQuoc Hien, said the agency’s operations over recent years have activelycontributed to verifying the annual State budget balance.

The SAV has made every effort to resolve issuesthat arise when auditing State management in the new period of nationaldevelopment, such as investment in basic construction and spending related tofinancial activities.

Specifically, the control exerted by the SAV hashelped increase budget revenues and cut unreasonable expenses. The largervolume of data released by the agency over the past year made financial, budgetary,and public asset management more transparent and effective, thus serving as a foundationfor the legislature to make more accurate decisions on fiscal and monetarypolicies as well as other important issues. The SAV has also contributed tobuilding and perfecting the legal framework, particularly in the financial andbudgetary spheres.

In recent years, along with comprehensiverenewal, Vietnam has stepped up its extensive international integration andcontributed actively to multilateral mechanisms. As a responsible member ofregional and global cooperative mechanisms, it has successfully hosted manymajor international events, such as the World Economic Forum on East Asia in2010, the 132nd International-Parliamentary Union (IPU) Assembly in 2015, theAPEC Economic Leaders’ Meeting in 2017, and the 26th Asia-PacificParliamentary Forum (APPF) meeting in 2018.

The success of these events not only affirmsthe importance of a multilateral forum or a regional or global cooperationmechanism, but also increases Vietnam’s role and standing in the internationalarena.

The SAV has also joined hands in intensifyingthe country’s external affairs. Hosting the 55th meeting of the ASOSAIGoverning Board helped improve the external activities of the State, includingthose of the legislature.

The NA’s Standing Committee has issued aresolution on the development strategy for the SAV in the 2021-2030 period.

The resolution highlights the view that theSAV, as an agency set up by the NA, will operate independently and in accordancewith the law, upholding the core values of Independence - Integrity - Professionalism- Prestige - Quality, and contributing to the development of stable,sustainable, and transparent national finances.

The development of the SAV should match the actualsituation in the country, while meeting the requirements of internationalintegration process and following international principles and practices in thefield.

The resolution sets overall targets for developingthe SAV into an effective and important tool of the Party and the State ininspecting and supervising the management and use of public finances and assets,enhancing the accountability and transparency of agencies funded by the Statebudget, effectively serving the operations of the National Assembly and the Government,and supporting local People’s Councils and People’s Committees in management,supervision, and decision-making./.