TAILIEUCHUNG - The Impact of the Use of Independent Auditing on Credit Accessibility: The Case of Vietnamese SMEs
The current study developed a model of the influence of independent auditing on credit accessibility by employing a qualitative method to identify the impact of independent auditing on credit accessibility in Vietnamese SMEs. The results of this study reveal that the use of external auditing is one of the key criteria to accessing credit in Vietnamese SMEs. | VNU Journal of Science: Education Research, Vol. 32, No. 5E (2016) 44-54 The Impact of the Use of Independent Auditing on Credit Accessibility: The Case of Vietnamese SMEs Tran Thi Hien1,*, Malcolm Abbott2, Vuong Tran Thi Huyen3 1 Faculty of Banking and Finance, VNU University of Economics and Business, 144 Xuan Thuy Str, Cau Giay Dist., Hanoi, Vietnam 2 Faculty of Business and Law, Swinburne University of Technology, Australia, John Str., Hawthorn, VIC, Australia 3 Hanoi Foreign Trade University, 91 Chua Lang, Dong Da Dist., Hanoi, Vietnam Received 02 August 2016 Revised 26 September 2016; Accepted 22 December 2016 Abstract: Vietnamese small and medium size enterprises (SMEs) are deemed the “backbone” of the economy; they are a key driver for the achievement of sustainable economic development. Access to finance, however, has been consistently identified as a major problem facing many Vietnamese SMEs. That has caused serious setbacks in the sustainable development of Vietnamese SMEs, and has adversely affected their profitability. This raises the question of whether independent auditing of financial statements can be influential in the credit allocation process. The current study developed a model of the influence of independent auditing on credit accessibility by employing a qualitative method to identify the impact of independent auditing on credit accessibility in Vietnamese SMEs. The results of this study reveal that the use of external auditing is one of the key criteria to accessing credit in Vietnamese SMEs. Keywords: Vietnamese SMEs, independent auditing, accounting, credit accessibility. 1. Introduction * to promote the domestic and export markets to strengthen the resilience of the economy has been recognized [2]. According to the Asian Development Bank, in ASEAN countries, SMEs are considered to be the backbone of the economy [1], they provide an impetus to sustainable economic development when encouraged to develop. In line with this, SMEs have .
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