State Audit helps make national financial sector healthier
The State Audit has shown strong performance in auditing the restructuring of State-owned enterprises (SOE) since it involved in the work in 2011, with better results through years, contributing to making the national financial sector healthier.
Hanoi (VNA) – The State Audit has shown strong performance in auditing the restructuringof State-owned enterprises (SOE) since it involved in the work in 2011, with betterresults through years, contributing to making the national financial sectorhealthier.
In the 2012-2016period, the State Audit examined the evaluation of 17 SOEs, raising the Statecapital by over 22.23 trillion VND (955.89 million USD).
In 2016 alone, theagency proposed settlement measures on nearly 38.78 trillion VND (1.66 billionUSD), 1.8 times higher than that in 2015, recording the highest result in 22years.
In 2017, the StateAudit helped increase State budget collection by nearly 4 trillion VND (172million USD), while suggesting financial handling on 6 trillion VND (258million USD). The agency’s SOEs value assessment auditing results showed a riseof over 9 trillion VND (387 million USD) in State capital in SOEs.
Besides, many problemsin management and use of public assets were discovered for timely settlement.
For the 2011-2015period, the State Audit found that as of December 31, 2015, only 96.3 percentof the set target in SOE restructuring for the period was completed. It also pointedout problems of the remaining firms, including wrongdoings in restructuring anddivestment process.
In this period, thehanding over of State ownership representative rights at enterprises belongingto ministries, sectors and provincial People’s Committee to the State CapitalInvestment Corporation (SCIC) got slower, found the agency which added that theimplementation of targets in management, trading and investment of Statecapital in enterprises in line with the focusing of capital to prioritisedsector remained inefficient.
On the basis of thefindings, the State Audit proposed to the Government and the Prime Minister toseparate the State ownership representative rights and State management overcapital, and giving the rights to the SCIC.
The agency also askedministries to adjust management mechanisms, policies and solutions, while givingenterprises recommendations to overcome problems in equitisation and divestmentin line with the approved plans.-VNA
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Illustrative image (Source: VNA) 
