The Institute of Chartered Accountants in England and Wales
(ICAEW) and the Vietnam Association of Certified Public Accountants
(VACPA) have signed a memorandum of understanding.
The ICAEW said the understanding will establish the development of
talents in Vietnam and South East Asia through learning programmes
in areas such as IFRS.

ICAEW’s president Clive Parritt said that with
the advancement of globalisation, “professional bodies need to work
together across country borders”.

 “ICAEW is working in partnership with
national accountancy bodies around the world to help promote and
develop best practice, and we look forward to working closely with
VACPA too,” he said.

UK Secretary of State for Business, Innovation
and Skills Vince Cable welcomed the agreement and said that the
co-operation between these two accounting bodies is a welcome

“Implementing international standard
accounting practices in Vietnam will further encourage foreign
companies to invest in the country,” he said.