TeamMate, the world's leading Audit Management solution under Wolters Kluwer's Tax and Accounting, held its first Audit Seminar “Internal Audit Transformation” in Vietnam on 6th December, 2016 at Sheraton Hanoi Hotel.
As Vietnam’s economy grows rapidly in size and sophistication, it has become critical for Vietnamese companies and government departments to have more effective and efficient internal audit groups. Audit technology has the potential to transform internal audit in Vietnam.
Co-hosting with PwC, the seminar brought in subject matter experts in audit and audit management with highly credentialed guest speakers addressing diverse concerns faced by internal auditors. Attendees gained valuable insights into how to leverage technology and implement best practice processes.
Delivering the opening remarks for the event was Mr. Derek Titterington, Vice President Sales, TeamMate Asia Pacific. In the session “Maximizing Audit Efficiency: Use the Right Tools and Techniques”, Mr. Nguyen Dinh Thai, Business Development Manager of TeamMate Vietnam, illustrated how an audit management system such as TeamMate can help an audit team be more efficient.
The seminar was also graced by distinguished guest speakers. Ms. Nguyen My Hanh, IT Risk Assurance Director of PwC, and Mr. Nguyen Tien Thanh, IT Risk Assurance Senior Manager of PwC, introduced some common supporting technology in internal audit activities in the session “Applying Technology in Internal Audit”. In addition, representatives from the Internal Audit Department of the State Bank of Vietnam also shared their extensive TeamMate experience with the audience.
"Whether your organization has a large or small audit function, compliance with the IIA's Standards for Professional Practice may be seen as prohibitively time-consuming and complex. The main challenge is finding the time to take account of the different constituencies you serve in the organization and determine where your focus needs to be and using technology in order to achieve these changing needs is really the key" said Ms. Siu Wei Lee, Sales Director, TeamMate Asia Pacific.
“As the business environment in Vietnam evolves under technological and regulatory changes, new IT audit risks also arise. The boards and executives expect the internal audit function to expand its value beyond the traditional role of assurance and become a trusted advisor. The IT audit function should enhance the internal audit processes by applying audit management software, data analytics and other audit solutions, as well as improving their technical knowledge and hiring IT audit professionals with relevant qualifications,” added PwC Vietnam’s IT Risk Assurance Director Ms. Nguyen My Hanh.
The full house event was a huge success and was well attended by 70 corporate auditors from 30 organizations from a wide range of industries including banking, insurance, telecoms, automobile & manufacturing.