(VNF) - On June 24th, the first component “Capacity building support to the State Audit Office of Vietnam” of the EU public finance modernization project (EU-PFMO) kicked off in Hanoi.

The EU Agenda for Change, adopted in 2011 by the European Commission, is the basis for the EU's development policy. Good governance, anti-corruption policies, and public financial management (PFM) are among its key priorities targeting the poverty reduction in a rapidly changing world through improved governmental system and policies. Indeed, progress in public finance management plays an essential role for the achievement of broader development objectives.

The fist component focuses on capacity building support to the State Audit of Vietnam to improve the accountability, reporting, transparency and oversight of public financial management activities in line with the SAV’s Development Action Plan (DAP) approved in December 2010 by the Auditor General. On behalf of the Delegation of the European Union to Vietnam, Expertise France implements the first component from June 2016 to December 2019 with a total financial volume of EUR3.9 million.

There are two specific pillars:

Pillar 1: Developing the SAV organizational structure and management of human resources in accordance with SAV’s DAP

Pillar 2: Contributing to enhance strategic audit planning, modernization of audit methods and management of audit activities in line with INTOSAI standards and international good practice and in accordance with SAV’s DAP

Besides, it is expected that some of the proposed activities under this project will be cross-cutting in nature and therefore will have an indirect impact on the remaining three pillars of the DAP./.

( VNF )