On August 5, at its Ho Chi Minh City Office, PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) organized a seminar to present the results of its internal audit quality assessment and to receive the Quality Assurance Certificate with the rating of “Generally Conforms”. This recognition affirms the professionalism, independence, and effectiveness of PVCFC’s Internal Audit function nearly five years after its establishment.

The quality certification was granted based on a comprehensive assessment of compliance with the International Professional Practices Framework (IPPF), Vietnamese Internal Audit Standards, and the Code of Ethics. The evaluation was conducted independently by IIA Vietnam, ensuring transparency, objectivity, and a high level of professionalism.

IIA Vietnam presented the Quality Assurance Certificate with the rating “Generally Conforms” to PVCFC

The results confirm that PVCFC’s Internal Audit (IA) function operates with professionalism, independence, and efficiency, capable of meeting the growing demands of a modern, dynamic enterprise. This also represents well-deserved recognition of the tireless efforts of the internal audit team, while highlighting the strong commitment of the company’s leadership to continually enhance governance, internal control, and comprehensive risk management.

The seminar was attended by the Chairman of the Board, the General Director, Board Members, the Executive Board, the Supervisory Board, and heads of units. Representing IIA Vietnam were Mr. Nguyen Dinh Thanh – General Director, and Mr. Nguyen Van Dau – Head of Professional and Quality Management.

Quality Assessment Review (QAR) of internal audit activities is a strategic step for PVCFC 

During the seminar, participants exchanged in-depth perspectives on the increasingly important role of internal audit in modern corporate governance. Conducting a QAR is a strategic move that enhances operational efficiency, standardizes activities according to international practices, and creates tangible added value for the entire system.

QAR helps clearly identify strengths to be leveraged and areas for improvement in current audit processes, laying the foundation for the Internal Audit Division to refine its methodologies and enhance professionalism and effectiveness. It also provides an opportunity for auditors to review competencies and build development pathways aligned with growing requirements.

Furthermore, compliance with the International Professional Practices Framework (IPPF) not only strengthens PVCFC’s reputation and elevates its corporate image but also demonstrates the leadership’s strong commitment to building a transparent and efficient governance system—especially critical in the context of global partnerships.

Compliance with international internal audit standards (IPPF) reinforces PVCFC’s credibility and reputation

More importantly, QAR brings clear value to every individual within the organization. The Board of Directors and Management have an objective basis to trust internal audit findings and recommendations; functional units receive support to improve processes and enhance risk control; and the entire organization benefits from a reinforced culture of internal control, ensuring transparency, minimizing risks of fraud and error, and effectively safeguarding corporate assets.

For the QAR process to be carried out smoothly and achieve maximum results, the consensus and close coordination of the Board of Directors, Management, and functional leaders play a decisive role. This not only ensures objectivity and comprehensiveness in evaluation but also reflects a collective determination to strengthen corporate control and governance capabilities.

For its part, the Internal Audit Division is committed to seriously adopting QAR recommendations, continuously learning and improving to enhance audit quality, and furthering its role as a strategic partner in risk management and operational optimization.

Ultimately, investing in Internal Audit quality is not simply a technical cost, but a strategic investment—building the foundation for PVCFC’s sustainable and long-term prosperity.

Ca Mau Fertilizer (PVCFC)