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Through the governance report, shareholders, investors and regulators can assess transparency, governance quality, and compliance with corporate regulations.
On June 18, the FPT Securities Joint Stock Company (FPTS HCM) and the Hanoi Stock Exchange (HNX) organized an online seminar on the topic “Notes when preparing the Corporate Governance Report (BCQT)”.
Ms. Nguyen Thi Minh, Head of Listing Management at HNX, said three common error groups are frequently seen in practice: violations of deadlines and forms; misstatements related to the disclosure of related parties (NCLQ), insider and related-party disclosures; and errors in information disclosure and corporate governance.
Ms. Nga, Director of Financial Advisory for Enterprises at FPTS HCM, attributed these issues to four main causes: information is dispersed across IR, accounting and HR departments; there is no regularly updated list of related parties; BCQT preparation begins close to the deadline; and there is a failure to cross-check content across documents including BCQT, financial statements and annual reports.
To mitigate these problems, speakers recommended preparing in three stages: before the reporting period, during preparation, and before publication.
Because the period before the report is relatively long, companies should use it to update and regularly review the related-party list. The list must be confirmed by the board chair, the Audit Committee and the executive team. Companies were also advised to standardize forms for simplicity and convenience and to build a checklist to identify data sources and responsible units to ensure the report is fully prepared before drafting.
When the data is ready, BCQT should be drafted with a key requirement to reconcile it with the audited BCTC to harmonize information. Companies should review related party transactions and any missing contents.
Before publication, consistency between BCQT and the audited BCTC, the annual report and the BCTN is essential. Companies should also observe publication deadlines: for semi-annual reports, the deadline is July 30; for annual reports, the deadline is January 30 of the following year, even if the fiscal year differs.
Another point emphasized was proactive bilingual publication. Companies should ensure two language versions and two copies: one full version for regulators and one redacted version for public disclosure. Ms. Nga noted that these are technical requirements and that inadequate preparation can lead to violations of disclosure obligations.
On bilingual publication, speakers highlighted concerns about AI translation quality. They said translation accuracy depends on input data and tools, and that for documents in image or scanned form, AI may translate inaccurately and cause misunderstandings (for example, translating “kính gửi” as “glass sent” or “Nhà nước” as “home water”). The seminar advised not relying solely on automated translation and ensuring accurate English translations to reflect professionalism.
Three messages were highlighted during the seminar. First, BCQT is not a task performed only at the end of the period; it is a continuous data process requiring regular updates, especially for related-party transactions and approvals. Second, data for the report accumulates over six months to a year, so earlier preparation can produce more complete and clearer data and reduce the risk of errors. Third, BCQT is not only a disclosure obligation but also a document reflecting the quality of corporate governance, enabling regulators, investors and partners to assess governance practices.
Experts also said BCQT should be viewed as more than a compliance exercise. They recommended that companies invest in data systems, governance processes and disclosure practices, noting that a thoroughly prepared BCQT can enhance credibility and attractiveness to investors.
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A notice shared…
