Recap of the Seminar “Introduction of Audit of Financial Statements at Ernst and Young Vietnam

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On the morning of June 5, 2024, the Accounting – Auditing Faculty, in collaboration with EY Vietnam, organized a seminar titled “Introduction of Audit of Financial Statements at Ernst and Young Vietnam” for ACCA K60 students. Attending the training session from EY Vietnam were Mr. Pham Minh Phong – Audit Manager, Ms. Le Thi Ngoc Ha – Deputy HR Director, and Ms. Sam Minh Hang – HR Assistant. Representing the Accounting – Auditing Faculty were Dr. Nguyen Quang Huy, MSc. Co Van Chien, and nearly 50 students from the ACCA-oriented Accounting – Auditing program.

The seminar began with an overview of EY Vietnam, one of the leading audit firms globally. Following this, Mr. Pham Minh Phong, Audit Manager at EY Vietnam, shared valuable insights into the financial statement audit process and EY’s operations in Vietnam.

Mr. Pham Minh Phong detailed the financial statement audit process at EY Vietnam, which includes:
– “Initial Planning”
– “Identify and Assess Risks”
– “Design and Execute Responses to Risks”
– “Conclude and Communicate”

During the audit process, EY Vietnam employs a risk-based audit approach, with a particular focus on inherent risk, significant risk, and control risk. EY Vietnam heavily invests in information technology, utilizing AI tools to support the audit process. Especially when dealing with millions of transactions, traditional sample testing methods are not feasible, and the application of AI enhances both efficiency and accuracy.

In addition, Ms. Le Thi Ngoc Ha, Deputy HR Director of EY Vietnam, emphasized the importance of equipping students with necessary professional and soft skills to meet EY Vietnam’s recruitment needs, such as:
– Professional Knowledge
– CV Writing Skills
– Interview Skills
– Word/Excel Proficiency
– Social Knowledge and Additional Consideration

EY Vietnam plans to launch an Internship Program in June 2024. The recruitment process will include CV screening, a test in August 2024, followed by group and individual interviews.

According to the cooperation agreement between EY Vietnam and Foreign Trade University, students of the ACCA-oriented Accounting – Auditing program have the opportunity to participate in the priority recruitment program (Fast Track) if they pass 5 ACCA subjects, including FA, FR, and AA, and attend EY’s training sessions. These students will directly advance to the final round of EY Vietnam’s recruitment process, which is the individual interview. This provides a significant advantage for these students and underscores the high-quality training of the program, which is highly regarded by employers.

The seminar provided beneficial knowledge and career opportunities for the students. The Accounting – Auditing Department hopes that EY Vietnam will continue to collaborate and organize more activities in the future.