VIETNAM FINANCE ASSOCIATION INTERNATIONAL
Trustees' Annual Report
For the year ended 31 December 2023
1. Reference and administrative details
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Registered charity name: VIETNAM FINANCE ASSOCIATION INTERNATIONAL
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Charity number (England & Wales): 1165061
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Legal form: Charitable Incorporated Organisation (Association model)
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Registered/Principal address: 3012 NW 14th Ct, Ankeny, Iowa, USA
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Email: vfai.president@gmail.com
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Website: http://www.vfainternational.org/
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Financial year end: 31 December 2023
Trustees who served during the year
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Dr Truong Duong - Chair
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Dr Kien Cao Dinh - Trustee
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Dr Hai Tran - Trustee
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Dr Anh Tran - Trustee
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Dr Chau Trinh - Trustee
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Dr Au Truong - Trustee
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Dr Minh Nguyen - Trustee
2. Objectives and activities
Objects (summary): To advance education in finance and economics, particularly those of Vietnam, including by promoting research for public benefit and publishing results, and by organising conferences, seminars and publications.
Public benefit:
The trustees confirm they have had regard to the Charity Commission's public-benefit guidance in planning the charity's activities.
Activities and achievements in the year:
The charity’s main activity in 2023 was organising the annual Vietnam International Conference in Finance (VICIF 2023) in Vietnam. The conference brought together academics and practitioners to present and discuss research in finance and related fields, in line with the charity’s educational and research objectives.
The conference was funded by donations from Vietnamese sponsors, which covered the conference-related costs incurred by the charity during the year.
3. Financial review
Total income in the year (donations from Vietnamese sponsors): GBP2,019
Total expenditure in the year (VICIF 2023 conference costs): GBP2,019
Net receipts/(payments) in the year: GBP0
Donations received from Vietnamese sponsors matched the conference expenditure, resulting in a nil net movement in funds for the year.
Cash at bank at year-end: GBP 0
Reserves policy: Given the current scale and nil activity, the trustees have not set a formal reserves policy; this will be established once operations recommence.
4. Structure, governance and management
The charity is a Charitable Incorporated Organisation (Association). Trustees are responsible for the overall governance and may appoint new trustees in accordance with the governing document. Day-to-day management is undertaken by the trustees. Given the nil activity, the trustees consider the principal risks to be low at present and will maintain proportionate controls, including conflict-of-interest declarations and dual authorisation for payments when activity restarts.
5. Plans for future periods
Subject to resources, the charity intends to deliver its objects through research activities, conferences and seminars, and the publication of academic work in the area of finance and economics related to Vietnam.
Approved by the trustees on 05 January 2024 and signed on their behalf by:
Truong Duong
Truong Duong, Chair
VIETNAM FINANCE ASSOCIATION INTERNATIONAL
Receipts and Payments Accounts (Receipts and Payments basis) For the year ended 31 December 2023
(Currency: GBP)
Receipts
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Donations from Vietnamese sponsors (VICIF 2023) ................. GBP2,019
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• Other receipts ..................................................... GBP0
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Total receipts ................................................... GBP2,019
Payments
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Conference and charitable activities (VICIF 2023) ................. GBP2,019
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• Support/administration costs ....................................... GBP0
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Governance costs ................................................... GBP0
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Total payments ................................................... GBP2,019
Net receipts/(payments) ........................................ GBP0
Cash funds
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Cash at bank and in hand at start of year .......................... GBP0
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Net change in cash in the year ..................................... GBP0
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Cash at bank and in hand at end of year ............................ GBP0
(Insert the actual opening and closing balances; they should be the same, since net movement is zero.)
Statement of assets and liabilities at 31 December 2023
Cash assets:
| • Bank current account ............................................... GBP0 |
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| Other monetary assets............................................ GBP0 |
| Non-monetary assets for charity's own use........................ GBP0 |
| Liabilities (amounts owed)....................................... GBP0 |
Funds
Nature of funds at year-end:
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Unrestricted: GBP0
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Restricted: GBP0
Accounting basis
These accounts have been prepared on the receipts-and-payments basis, in accordance with the Charities Act 2011 and the Charity Commission’s guidance for small charities.
Independent scrutiny
Given the low level of income and expenditure, and subject to statutory thresholds, an independent examination or audit is not required for this reporting period. If the charity exceeds the relevant thresholds in future years, an independent examination or audit will be arranged.