Pioneering in pharmaceutical business for sustainable development, Traphaco expressed their strong determination to achieve their “sustainability” in farming green materials, making green products and now to choose transparent corporate governance and business integrity for sustainable development. This is important to empower “green” brand and differentiate  Traphaco from other competitors, build trust in customers, shareholders and attract investors. During the context of declining economy due to Covid-19 pandemic, sustainable development is a global trend that Traphaco well recognized and take a choice.

In the framework of “Government-Business Integrity Initiative – GBII” promoted by VCCI, a component of the regional project “Promoting a Fair Business Environment in ASEAN” financially supported by UK Prosperity Fund, VCCI and  UNDP have carried out many training, consulting activities and improving capacity in transparent governance and integrity business for various companies in Vietnam including Traphaco.

Photo of the project team and Traphaco staff at a technical advice meeting

In compliance with the technical package provided by VCCI and UNDP to support Traphaco, Deloitte Vietnam has been selected to supply expertise for this assignment. Recently, Deloitte has conducted an assessment on current status of internal control and risk management in Traphaco. Based on the outcome, Deloitte would develop auditing standards and appropriate procedures and provide training service at the company in order to transfer tools for Traphaco.

On past March 31st, Traphaco Joint Stock Company has successfully hosted the 2021 Annual General Meeting of Shareholders for the Term 2021-2025 to elect the Board of Directors, the Board of Supervisors and the Auditing Committee Representative who importantly take the role in directing business operations of Traphaco. In considering the features and traits of Traphaco business, Deloitte will develop the appropriate procedures applied to a selected audit. The deliverables will be reported  in May 2021. A training program will be provided for Traphaco’s relevant employees thus to enhance capacity for the internal audit team in compliance with the Circular No 08/2021/TT-BTC and meet the requirement for the business development.