The Lao Securities Exchange (LSX), in association with the Faculty of Economics and Business Management of National University of Laos, APM(LAO) Securities Co., Ltd, and Lanexang Securities Public Company, opened a training course themed “Smart Accountant and Auditor for Capital Market” to increase the knowledge and capacity of Lao accountants.
The training, which is being run at the Lao Securities Exchange in Vientiane, began on October 22. The programme, which is only conducted on weekends, will be completed within 12-days.
The opening of the course was in response to a Memorandum of Understanding (MoU) on cooperation to organise such a training course signed in June by the four above mentioned sectors.
The objective of the MoU is to improve the knowledge and capacity of local accountants on international standards, thus contributing to the development of the capital market in the Lao PDR.
“This will be the first batch in the country and there are 81 participants attending. They are from government agencies, companies listed on the Lao Securities Exchange, banks, general companies, and educational institutes,” said Chief Executive Officer of APM (LAO) Securities Company, Mr. Somphob Sakpanpanom at the opening ceremony of the course last Saturday.
“If you want to be listed on the stock exchange anywhere, a significant initial auditing and accounting is required,” he pointed out.
Mr. Somphob explained that the course is suitable for entrepreneurs and businessmen, especially those who want to list their companies on the Lao Securities Exchange in the future.
Throughout the course, participants will learn the accounting standards of the International Financial Reporting Standards, internal account control, and account management.
The course will be conducted by six experienced trainers from Chiang Mai University of Thailand.
Mr. Somphob added that APM (LAO) Securities is very committed to developing the Lao Securities Exchange to meet international standards, and strengthening the capacity of human resources.
“Accounting is very significant component of business operations around the world because before businessmen or entrepreneurs can make a decision to invest or cooperate or join with a company, they must know the account activity of the company and take into account whether that information is reliable or not. Thus, this course will provide knowledge and build the capacity of Lao accountants to an international standard because it is the system that many countries are using,” said Assoc Prof. Naruanard Sarapaivanich, Ph.D, Accounting Department, Faculty of Business Administration, Chiang Mai University.
Chief Executive Officer of LSX Mr. Vankham Voravong, Dean of the Economics and Business Management Faculty, National University of Laos, Mr. Somchith Souksavath, CEO of Lanexang Securities Public Company Mr. Nalin Silivongsith, and Director General of the Lao Securities Commission Office Saysamone Chanthachuk attended the opening ceremony of the course.