Two More Universities Introduce Auditing Majors

In 2024, a university traditionally strong in technical fields, Hanoi University of Civil Engineering (HUCE), decided to introduce a major in Construction Investment Auditing—a program in the economics sector—and began student recruitment this year.

The decision to add what might seem like a “side” program was explained by Assoc. Prof. Dr. Nguyễn Quốc Toản, Vice Head of the Faculty of Economics and Construction Management at HUCE, in an interview with Kiểm Toán newspaper: this move stems from actual market demand. According to reports from independent auditing firms at the end of 2023, up to a quarter of their revenue came from construction investment auditing, yet the workforce was not formally trained.

A survey on workforce demand conducted by the Faculty of Economics and Construction Management (covering agencies including the State Audit Office, auditing firms, and individuals by position/profession) showed that the need for construction investment auditing personnel is urgent (100% of respondents, with 94% rating it as very urgent). In reality, although tens of thousands of accounting and auditing graduates are produced in Vietnam each year, this workforce still cannot meet the demands of businesses.

According to Assoc. Prof. Dr. Nguyễn Quốc Toản, construction investment auditing is a very common field internationally, taught at many universities, especially in developed countries with high-income levels. In Vietnam, however, universities offering auditing majors have mostly focused on financial statement auditing, with no institution providing specialized training in construction investment auditing.

The advantage of launching this major is that the Faculty of Economics and Construction Management already has a foundation in programs related to economics, investment, and construction management. Notably, the major has received attention from auditing firm leaders, who have committed to supporting graduates and providing opportunities for students to intern at their companies.

Alongside HUCE, the Banking Academy (BA) has also officially started recruiting students for the auditing major in the 2024 academic year. In an interview with Kiểm Toán newspaper, Assoc. Prof. Dr. Lê Thị Thu Hà, Vice Head of the Faculty of Accounting – Auditing at the Academy, stated that the introduction of the auditing major stems from workforce demand. As the economy develops, the need for auditing activities to enhance corporate information transparency is increasing. According to the Strategy for the Development of the Accounting and Auditing Sector until 2030, the number of auditing firms is expected to rise, and the demand for auditors with professional qualifications and certifications will continue to grow.

Survey results conducted by the Banking Academy also indicate a strong interest and desire among students to study auditing. Additionally, launching the auditing major aims to meet the Academy’s goal of diversifying training programs as part of its overall development strategy.

Ready to Face Competitive Pressure

It is clear that market demand, international practices, the strengths of training institutions, and the commitment of certain businesses to student outcomes are favorable conditions that make it feasible for HUCE and the Banking Academy (BA) to launch auditing majors. This also creates more opportunities for young people who wish to pursue auditing—a “hot” field with relatively high admission scores in recent years.

However, the question arises: when deciding to open auditing programs, have these universities considered the pressure of competing with institutions that have many years of experience in training auditing professionals? On this matter, Assoc. Prof. Dr. Nguyễn Quốc Toản stated that when HUCE decided to launch the construction investment auditing major, the university conducted market demand surveys and took into account competition from other schools.

HUCE also clearly identified both the advantages and challenges, especially the challenge of designing training programs for subjects that the university had not previously taught in practice, such as taxation, customs, and internal auditing. Based on that, the university developed a curriculum, prepared teaching staff, and ensured all necessary conditions for the new major. In particular, during the process of developing and evaluating the training program, HUCE consulted experts from auditing firms and the State Audit Office to ensure the program includes a full range of knowledge areas aligned with market needs.

“We are confident because currently, no institution in Vietnam trains in construction investment auditing. Our school aims to focus on specialized training in this field. This will be HUCE’s strength compared to other universities with many years of experience in auditing education, most of which only focus on corporate financial statement auditing. We ensure the curriculum meets market demand and will build a network of businesses to secure ‘job placements’ for our students,” said Assoc. Prof. Dr. Nguyễn Quốc Toản.

In the context of some institutions opening auditing majors, to increase competitiveness in student recruitment and maintain long-established reputations in auditing training, the Academy of Finance (AF) continuously updates knowledge and enhances practical activities for students to ensure its accounting and auditing programs meet business requirements.

The Institute of Accounting – Auditing at the National Economics University has also actively learned from the experience of developing advanced programs worldwide. Particularly, the Institute is a pioneer in Vietnam in integrating international certificates into its curriculum. This practical approach enhances the Institute’s competitiveness and attracts students.

Similarly, for the Banking Academy, Assoc. Prof. Dr. Lê Thị Thu Hà shared: “When launching the auditing major, we considered the competition with institutions specializing in auditing for many years. However, the Academy is confident in its faculty team, many of whom have teaching experience, have worked at auditing firms, and some even hold international accounting and auditing certificates.”

According to Assoc. Prof. Dr. Lê Thị Thu Hà, to improve competitiveness with other institutions, the Academy surveyed stakeholders to understand market demand and collaborated with international professional associations and businesses to exchange knowledge and experience.

Based on this, the Academy designed a curriculum with courses that meet the current economic development needs, such as business data analysis, accounting in a digital environment, auditing in IT environments, and especially financial statement auditing for commercial banks and credit institutions—a specialized area unique to the BA that not every university covers.

“This strength of our program gives us the confidence to compete with other universities,” emphasized Assoc. Prof. Dr. Lê Thị Thu Hà.

(Source: http://baokiemtoan.vn/mo-them-nganh-kiem-toan-su-lua-chon-tao-bao-33680.html)