Fifty-six Lao nationals have completed a training course on Smart Accounting and Auditing for Capital Markets which began in October 2016.
A ceremony for the handover of certificates was held in Vientiane last Friday with the CEO of the Lao Securities Exchange (LSX), Mr Vanhkham Voravong presenting the certificates to successful graduates.
Mr Vanhkham explained that 86 trainees took part in the course, but only 56 of them passed the examination.
The course aimed to equip the trainees with knowledge of accounting, financial reporting, internal account control, and account management that meets international standards.
“This course is very important because all business operations, especially those with businessmen or entrepreneurs who want to list their companies on the Lao Securities Exchange, will be required to have accountants who can deliver accounting work that meets international standards,” added Mr Vanhkham.
“I used to study accounting, but I lacked confidence in myself about it. Since I attended this course, I feel more confident and know how to do accounting that meets international standards. I would like to encourage Lao accountants to use their spare time for this course because they have condensed four years of normal learning to a 12-week course,” said Ms Lammone Simmalaivong, an official from the Bank of the Lao PDR.
“This training course is very important for the development of capital markets in our country. I decided to attend this course because it provides new knowledge, especially regarding international accounting and auditing standard systems, and I would like to be a financial advisor for a company after I am retired,” Mr Bongaphay Sathispamout, an employee from U.D.A Import-Export Public Company.
The course was jointly organised by the LSX, the Faculty of Economics and Business Management of the National University of Laos, APM (LAO) Securities Co., Ltd., and Lanexang Securities Public Company, aiming at increasing the knowledge and capacity of Lao accountants.
The training, which was conducted on weekends at the LSX in Vientiane, began on October 22, 2016.
The holding of the course was in response to a Memorandum of Understanding (MoU) on cooperation signed in June 2016 by the four above mentioned sectors to improve the knowledge and capacity of local accountants on international standards, thus contributing to the development of capital markets in the Lao PDR.
The training course was the first of its kind in the country. Participants of the training came from government agencies, companies listed on the Lao Securities Exchange, banks, general companies, and educational institutes.
Throughout the course, trainees were taught by six experienced trainers from Chiang Mai University of Thailand.
Deputy Director General of the Lao Securities Commission Office, Mrs Nakhonesy Manodham, CEO of Lanexang Securities Public Company, Mr Nalin Silivongsith, and Senior Executive Vice President of APM (LAO) Securities Co., Ltd., Mr Supol Kaploydee took part in the graduation ceremony.
Source: Lao News Agency