On 9th November 2016, the Workshop on “Risk-based approach in financial audit” was hosted by State Audit Office of Vietnam in Hanoi. The workshop was co-chaired by Deputy Auditors General of the three SAIs namely Dr. Suon Sitthy (SAI Cambodia), Dr. Padapphet Sayakhot (SAI Laos) and Prof. Doan Xuan Tien (SAI Vietnam) and attended by representatives from the three SAIs and some auditing firms and professional organisations.
Three Country Papers on experiences and best practices on the risk – based approach in financial audit were delivered by representatives from each SAI. The workshop was a forum herein SAIs jointly discussed to identify difficulties and limitations in applying such an advanced method and work out solutions for them. Some main identified challenges were relating to both policy making and personnel training on use of risk- based approach. Among others, a common solution is to provide persistent training and develop materials to each of the tree SAIs’ context to promote risk-based approach in auditing processes.
The 7th Tripartite Workshop, aside from itsthe professional values, also tightened the solidarity and promoted the collaboration between countries and SAIs. In such mutual spirit of cooperation, at the earlier trilateral talks on 8th November 2016, the Vietnam’s Auditor General, Dr Ho Duc Phoc expressed the expectation for continual supports between threeSAIs. He affirmed SAV’s willingness to exchange expertise with SAI Cambodia and SAI Laos for further development in audit sector in the future, thereby contributing to good public governance in the nations.