1 CHAPTER 1- INTRODUTION 1.1 The reasons to research In the modern economy with the development of capital market, listed companies (LCs) and its financial information which is disclosure public legally on the stock exchange is necessary Investors, governments and other stakeholders who concern about the LCs are always considering the information on business strategy, on the financial situation of these companies when investing in The financial information of LCs is audited, reviewed by audit firms and give the “true and fair” opinion In addition, this information is examined and supervised by the stock exchanges (SE) and the State Securities Commission (SSC) Therefore, investing in LCs investors feel more secured than that in unlisted companies, but the reliability of the information still has some doubtful notes According to Agrawal (2005), Brown.J (2010), the wave of accounting scandals recently emerged in the international financial community that raises issues about the quality of financial statements (FS) [44,58] Widespread disruption caused by the disclosure of dishonest financial and accounting data that required the need to strengthen financial accounting information quality (FAIQ) and control board of directors (BOD) by establishing corporate governance [54,59,74,92,104] In Vietnam, the scandals in Bach Tuyet Cotton Corporation and the Vinashin Group are clearly examples of the weaknesses in corporate governance and public disclosure of financial accounting information (FAI) The results of the fraud information disclosures affect investors in particular and the national economy in general lead to an urgent requirement of control of FAIQ of LCs Control is considered in various aspects that ensure comprehensive control, including LCs those prepare and present FAI - internal control (IC) and external control in which the national control (NC) influences the most on FAIQ which disclosured by LCs Therefore, the Thesis " Improving organizing controls to enhance financial accounting information quality of the listed companies in the Vietnam stock exchange " is necessary 1.2 Research objectives The overall objective of the thesis is focusing on research and assessing the relationships between organizing IC (OIC) and organizing NC (ONC) FAIQ of LCs that meet higher information with requirements from investors 1.3 Research questions The general research question is how comprehensive organizing controls enhance FAIQ of LCs in the Vietnam stock exchange? 1.4 Objects and scope of research The thesis studies organizing controls (including OIC and ONC) to FAIQ of LCs in the Vietnam stock exchange, thereby proposing solutions to improve organizing controls in order to develop LCs’ FAIQ The thesis focuses on the collected data about FAIQ from the nonfinancial LCs on Hochiminh Stock Exchange (HOSE) The research period is from the year 2008 to the year 2012 1.5 New contributions of the thesis (1) The thesis used various methods and models which measure the quality characteristics of LCs’ FAIQ (2) The thesis identified the positive aspects of OIC to FAIQ of LCs (3) The thesis pointed out the impact of ONC to FAIQ of LCs (4) The thesis assessed the actual state of FAIQ of LCs in the Vietnam stock exchange during the study period (based on an independent audit opinion on the FS of non-financial LCs on HOSE) (5) The thesis applied qualitative methods in determining the relationship and the initial impact to provide the research model The quantitative methods are used to test the relationship between OIC and ONC to FAIQ of LCs (analysing by EViews software) 1.6 Outline of the thesis The thesis consists of six chapters, including: Chapter 1- Introduction; Chapter - General theory and literature review on organizing controls to enhance FAIQ of LCs in the stock exchange; Chapter - Research methodology of organizing controls to FAIQ of LCs in the Vietnam stock exchange; Chapter - Results of the research on the impacts of organizing controls to FAIQ of LCs in the Vietnam stock exchange; Chapter - Analysing the research results and proposing solutions to improve organizing controls to enhance FAIQ of LCs in the Vietnam stock exchange; Chapter - Conclusions Concluding remarks in chapter The thesis identified the object of the research, which is the impact of OIC and ONC to FAIQ of non-financial LCs The research scope is non-financial LCs in the Vietnam stock exchange at HOSE, the research period from the year 2008 to the year 2012 The overall objective of the thesis is focusing on the research and assessing the relationships between OIC and ONC with FAIQ of LCs that supply investors with higher information requirements CHAPTER - GENERAL THEORY AND LITERATURE REVIEW ON ORGNIZING CONTROLS TO ENHANCE FINANCIAL ACCOUNTING INFORMATION QUALITY OF LISTED COMPANIES IN THE STOCK EXCHANGE 2.1 Organizing of information control 2.1.1 Information control On the basis of analyzing parts of the views of researchers in Vietnam and abroad the author proposes the concept of control as follows: "Control is an important function of management which done at all levels and various stages of management in a suitable manner with the objects to achieve objectives of the entity Control involve measurement, evaluation controlled objects in order to gain effective management " Economic information is defined as signals in which received, understood and assessed and those are useful in making economic decisions of users Economic information meets characteristics of information that are needed to be controlled, measured to ensure information reliability Information control regularly ensures unity and connection between the information elements The false and unreviewed information will affect users 2.1.2 Organizing of information control According to the author, organizing of information control is the way that links the different components in a specific system in which combining internal control and external control to the information that is managed 2.2 Financial accounting information quality of listed companies 2.2.1 The criteria of financial accounting information quality Information quality assures these characteristics satisfying needs, meeting the different needs and standardized The standardization of the information quality often is to meet different needs, such as reliability, objectivity, timeliness, relevance, understandability, comparability of the information Reliability is considered as the important standard of information quality Besides, based on the characteristics of information, information quality must be quantified according to the characteristics of information and be controlled to ensure the information quality that convey from the input to the ouput According to IFRS (2013), the following criteria are used to decide FAI has: relevance, faithful representation, comparability, verifiability, timeliness and understandability 2.2.2 Requirements on financial accounting information quality of listed companies Main characteristics of the LCs include: public joint stock companies with large scale, issuing securities, financial information disclosure and stakeholders who interested in FAI of LCs and theirs operations are managed by the legal system seriously Requirements on FAI of LCs includes: Firstly, FAI of LCs shall be provided publicly is the official and unique information of LS; Secondly, FAI of LCs must ensure transparency and publicly disclosure that required by law; Thirdly, FAI of LCs includes multi - contents; Fourthly, FAI of LCs (via FS ) must comply with the provisions of SEC where listed and it is controlled and handled with violations of information disclosure; Fifthly, FAI of LCs must be published on time; Last, FAI shall be provided to assure coporation’s value 2.2.3 Roles of financial accounting information quality of listed companies on the stock exchange According to Robert M Bushman and Abbie J Smith (2003), FAI affects investors, profitability and added value of corporations Ensuring information quality provides information completeness, timeliness and faithfulness needs to combine with published information in the FS of LCs 2.2.4 Main reasons that listed companies provide biased financial accounting information The motivation of BOD, hard financial situation, weakness IC in LCs are main reasons 2.3 Organizing of quality control of financial accounting information of listed companies N.Klai (2011) showed that the governments and financial institutions’controls have positive impact on FAIQ of LCs in the Tunisia stock exchange in the period 1997-2007 According to Alvin A.Arens (2012), the problems in preparation and presentation the FS of Enron and WorldCom showed weaknesses in their IC In the U.S, the independent auditors should make an assessment and report the effectiveness of IC related to the preparation the LCs FS This content is included in its audited FS of the LCs Apply a similar to Japan via J-SOX Act As the international experience, the LCs must be controlled by the government - an legally external control in the stock market management and the IC 2.3.1 Identifing the content of organizing controls of financial accounting information Organizing controls is the way to link the different components in a specific system, were internal and external control toward the general goal of the managed objects such as economic information The thesis identifies contents of organizing controls of FAI including: Quantifying FAIQ (control object); OIC to FAIQ of LCs; ONC (external control) to FAIQ of LCs 2.3.2 Quantifying financial accounting information quality of listed companies Quantifying FAIQ by standardizing mesurement of FS: Relevance (R), faithful representation (F), comparability (Co), verifiability (V), timeliness (T), understandability (U) and total assessment According to the research of Ferdy van Beest (2009) [72], FAQ = (R + F + V + U + Co + T) / (2.1) 2.3.3 Organizing internal control of the quality of financial accounting information of listed companies Internal control is considered in systematic view of regulations and control procedures This mean that the approach IC can be from system IC (consisting of three components) or the process IC (consisting of five components) J.Altamuro Research (2010) pointed out control procedures that affected the FS preparation in the banking entities [84] Organizing internal control is a topic that related to the fraud in the preparation of FS and accounting scandals in all countries (Angella.A (2009) [47]) According to the research results in the report of the Treadway Commission in 1987 in the U.S showed the absence or weakness of OIC that is the leading cause of fraudulent financial information of companies Organizing internal control of financial accounting information of the listed companies is how to set the relationship among the components of the IC system that included control environment, accounting information systems and control procedures in order to ensure reliability of information that reflected on FS Quantifying the organizing internal control Organizing internal control is quantified through the average values of the components in the system [65]: CS = (EC + AS + CP)/3 (2.2) Each component in OIC such as control environment (EC), accounting information systems (AS) and control procedures (CP) were quantified Methodology to evaluate the relationship between organizing internal control and financial accounting information quality of listed companies J.Altamuro (2010) pointed out that the financial entities had a positive effect on control procedure to prepare FS [84] According to N.Klai (2011), the corporation size was associated adversely to FAIQ [99] The thesis uses quantitative research methods to evaluate the relationship between OIC to FAIQ of LCs 2.3.4 Organizing national controls of financial accounting information quality of listed companies Management of the stock exchanges is a part of national economic management We have learnt the accounting scandals such as Enron, Worldcom, that mandated the U.S issuing Sarbarnes-Oxley Act to control the transparency of the financial situation of the LCs by regulations of IC and independent auditors for LS [106] There are some experiences of control of stock market information from the U.S, Japan, China, Malaysia, Thailand According N.Klai (2011), the national control and the financial institutions control strengthened the transparency and relevance in the preparation of FS (applicable to state companies) [99] Most countries have their specific supervisory systems through the SSCs, the National Supervisory Committees and the SEs Alvin A.Arens (2012) has pointed out that the independent audit opinion of the FS were the necessary requirements of the SEC to LCs [45] Organizing national controls of FAI of LCs includes national supervisory agencies and national control procedures National supervisory agencies National supervisory agencies implement monitoring of FAIQ of LCs in stock markets over the world usually include: Government, Ministry of Finance, the State Securities Commission (SSC), the Stock Exchange (SE), the National Supervisory Committees Independent audit is considered as the other hand of the government in controlling FAIQ of LCs in stock markets These national supervisory agencies implement supporting functions such as legal advice, professional advice, training for LCs in management for FAIQ in developing countries National control procedures In order to promote the role of control, national supervisory agencies implement control procedures such as monitoring, checking, inspecting and penalizing All procedures are controlled by the laws and by laws documents ONC influences strongly through the system of national securities laws LCs who disclosed misstatement may be administrative sanction or criminal Organizing national controls of FAIQ of LCs in the stock exchange includes supervisory agencies monitoring FAI and control procedures of these agencies that regulate and handle violations of disclosure FAI The relationship between the state and FAI which prposed by N.Klai (2011), the author establishes the relationship between NC of FAIQ of LCs in Vietnam's stock market Based on, the thesis builds the research model and the research hypotheses to quantify external control factors those namely SC to FAIQ through LCs FS This organizing control includes national supervisory agencies and national control procedures Concluding remarks in chapter Chapter synthesis these general theories of organizing of information control, FAIQ of LCs Chapter has overview the theories of control of FAIQ that include FAIQ (controlled information), ICO and NCO CHAPTER – RESEARCH METHODOLOGY OF ORGANIZING CONTROLS TO FINANCIAL ACCOUNTING INFORMATION QUALITY OF LISTED COMPANIES IN THE VIETNAM STOCK EXCHANGE 3.1 Sources of research data The thesis uses two data sources in the research process: secondary data and primary data 3.2 Qualitative research methodology 3.2.1 Desk research The thesis uses qualitative method in the initial research stage to find the previous models, methodologies and results These are basis for the thesis 3.2.2 Real-life situation research The author conducted the situation on FAIQ of LCs in the Vietnam stock exchange 3.2.3 In–depth interview of experts The author performed in-depth interviews with the experts who have experiences in the field of auditing, accounting, stock exchange, management of stock market in order to build the model, the model variables, as well as building the research questionnaires (Appendix 02) 3.2.4 Summarise and analysis The author analysed and identified the background theories of the thesis and synthesized of specialists' opinions 3.3 Quantitative research methodology 3.3.1 Develop research hypotheses and research model These results from qualitative research methodology help to build the research hypotheses and model of the relationship between organizing controls (IC and NO) and FAIQ of LCs OIC affect FAIQ of LCs H0: OIC not affect FAIQ of LCs H1: OIC affect FAIQ of LCs FAQ = β0 + β1.EC + β2 AS + β3.CP + β4.Year + β5.Capital +β6 10 Where : FAQ: Quality of financial accounting information of LCs EC: Control enviroment AS: Accounting information system CP: Control procedures Year: Operating years Capital: Capital HOSE: Listed times in HOSE ONC affect FAIQ of LCs H0: National supervisory agencies not affect FAIQ of LCs H1: National supervisory agencies affect FAIQ of LC FAQ = β0 + β1.S + β2.SP + β3.Year + β4.Capital +β5 HOSE Where: S: Affecting of national supervisory agencies SP: Affecting of supporting functions from agencies Year: Operating years Capital:Capital HOSE: Listed times in HOSE 3.3.2 Research questionnaires 3.3.2.1 Constructing research questionnaires Research questionnaires was constructed (Apendix 03) This has been sent to 266 companies (out of 282 companies) of non-financial LCs in HOSE (the statistics in the year 2012 accordingly) and received 69 responses (26%) 3.3.2.2 Collectting data from the questionnaires Code of data: Coding data on each questionnaire Declaration data: Enter data into the excel table (Appendix 05, 08, 09) 3.3.3 Descriptive statistics analysis Analysis of descriptive statistics by Eviews software 3.3.4 Regression correlated method The thesis used EViews software to test the relationship of organizing controls and FAIQ of LCs 11 Concluding remarks in chapter Chapter summarised research process, research data collection, research methodology used in the thesis Qualitative research methodologies used in the thesis include desk research, real-life situation research, in-depth interview, synthesis and analysis methods Quantitative research methodologies applied in the thesis include survey, descriptive statistics analysis and correlated regression method by EViews software 12 CHAPTER - RESULTS OF THE RESEARCH ON THE IMPACT OF ORGANIZING CONTROLS TO FINANCIAL ACCOUNTING INFORMATION QUALITY OF LISTED COMPANIES IN THE VIETNAM STOCK EXCHANGE 4.1 The overview of the Hochiminh Stock Exchanges and requirements for financial accounting information quality of listed companies HOSE is the largest stock exchange in Vietnam There were 294 LCs at December 31, 2012 LCs diclosure their audited financial statements which complied with Circular No 52/2012/TT-BTC dated April 05, 2012 4.2 The actual state of quality control of financial accounting information of non-financial companies listed in the Vietnam stock exchange 4.2.1 General evaluation of the quality of financial accounting information of non-financial companies listed on the Vietnam stock exchange Evaluating the quality of FAI of LCs in Vietnam stock exchange that had been done by the independent audit reports of the FS of LCs of the period 2008 to 2012 and through auditor's opinions (Appendix 04) 4.2.2 Quantifying financial accounting information the quality of non-financial companies listed on the Vietnam stock exchange Survey data of FAIQ of non-financial LCs in HOSE had been collected and synthesized in Appendix 05 The collected data was analyzed by EViews software and the analysed results showed: FAIQ of surveyed non - financial LCs in HOSE are moderate level with the mean 4.07 (as good quality) and Std.deviation 0.567, domain evaluation data of 2.5 - 13 4.3 Organizing controls of financial accounting information quality of listed non-financial companies in the Vietnam stock exchange 4.3.1 General evaluation of control of financial accounting information quality of non-financial companies listed in the Vietnam stock exchange Through actual survey on the periodically information quality of FS of LCs in the Vietnam stock exchange today pointed out some problems including: (1) published FS’s information none incompletely and not complied with regulations and accounting standards; (2) haved significant difference before and after auditted; (3) violated the requirement to disclosure timeliness 4.3.2 Organizing internal control of financial accounting information quality of non-financial listed companies in the Vietnam stock exchange Based on collected data of OIC of non - financial LCs in HOSE, the statistical analysis showed that OIC was highly appreciated Using EViews software to process collected data through the survey, the result showed the correlation between ICO and FAIQ of nonfinancial LCs in HOSE Effection of ICO to FAIQ: FAQ = 0,916 + 0,364.EC +0,113 AS + 0,238.CP + 0,076.Year -0,012.Capital - 0,08 HOSE (Probability greater than 95% and the control environment affected FAIQ) FAQ = 0,763+ 0,738.CS + 0,092.Year - 0,009.Capital 0,092.HOSE and ICO has positive impact on FAIQ with probability greater than 95% According to the results, the operating years of the LCs not affect FAIQ The LCs’capital and the time listed in HOSE are not meaningful The relationship among control environment, accounting information systems and control procedures to FAIQ were close when analysing one by one (1) Environmental control is a important element that affected to FAIQ (Prob < 5% and β = 0,563) 14 (2) Accounting information system prepares FS and affects to FAIQ (Prob < 5% and β = 0,513) (3) Control procedures affect to FAIQ (Prob < 5% and β = 0,584) 4.3.3 Organizing national controls of financial and accounting information quality of non-financial listed companies in the Vietnam stock exchange Direct national supervied agencies includes Government, the Ministry of Finance, the SSC, the National Supervisory Committee, SEs Besides, other agencies not participate in the controlling process but significantly effect in filed of management of audit quality of FS of LCs that are the Vietnam State Audit Office, the Vietnam Association of Certified Public Accountants (VACPA) Quantifying organizing national control of financial accounting information quality National supervied agencies: According to the descriptive statistics analysis, the role of the National Supervisory Committee is minimum (with mean of 3,681 and 1.131 Std.deviation), the influence of HOSE is the maximum (with the mean of 4.521 and 0.608 std.deviation) and followed HOSE that is SSC (with the median of 4.362 and std.deviation of 0.727) Thus, the results of the analysis showed that the influence of national supervied agencies to FAIQ of LCs in Vietnam stock exchange is quite high with the median of 4.139 and 0.684 std.deviation According to statistics, the supporting functions of national supervied agencies have equal influence and therefore, the impact of these to FAIQ of LCs is 4.304 median and 0.596 std.devation National control procedures: In 69 responses there is 15 respondants comment that the current penalties for management of FAI is not serious (rate of 21.7%) Quantifying the impact of ONC to FAIQ According to the analysis results showed that has strong impact on ONC (through national supervisory agencies) to FAIQ of LCs with the 15 coefficient β = 0.359 (for the impact of national supervisory agencies) and the coefficient β = 0.132 (for the supporting functions) The impact of their supporting functions not affect the FAIQ (due to the over influence of national supervisory agencies) Other variables of size and listed time in HOSE are not meaningful to FAIQ of LCs Concluding remarks in chapter Chapter summaries of the actual state of FAIQ and control of FAIQ of non-financial LCs in the period 2008 - 2012 in HOSE (the List of sub-sectors in 2012) by which assessing the independent audit opinion of FS of non-financial LCs Chapter presents the results of the survey (obtained 69 responses representing 266 non-financial of LCs in HOSE under the List of subsectors in 2012) including: Descriptive analyzing of standardization of FAI, the impact of OIC and ONC to FAIQ of non financial LCs in Vietnam stock exchange The estimated results on EViews software shows the results of the correlation between OIC and ONC to FAIQ of non financial LCs in Vietnam stock exchange 16 CHAPTER – ANALYSING THE RESEARCH RESULTS AND PROPOSING SOLUTIONS TO IMPROVE ORGANIZING CONTROLS TO ENHANCE QUALITY OF FINANCIAL ACCOUNTING INFORMATION OF LISTED COMPANIES IN THE VIETNAM STOCK EXCHANGE 5.1 Ananlysing the research results 5.1.1 The quality of financial accounting information of listed companies in the Vietnam stock exchange By examining the FS of LCs in HOSE in the period of 2008 - 2012, the author finds that FAI diclosured is only at the minimum information required of the FS LCs which were focused solely on accounting information, not on financial information Survey results from 69 companies representing 266 non-financial LCs in HOSE showed: Information of going on concern ability of LCs is the most important The additional information is considered as the second most important LCs has not been fully complied with currently accounting regulations and accounting standards in which providing FAI via FS (that expressed in qualified opinion of auditors) Thus, selecting and appling accounting policies which are appropriate for current accounting regulations and accounting standards, are important to ensure the quality of accounting data (according to the survey) In fact, many audited FS diclosured publicly still have misstatemnet among the accounting data periods and others According to the research findings, the opinion of the independent auditors on economic decisions influence has been highly appreciated Based on the survey results, Notes for Statement of financial position and Income Statement clearly presented has been highly appreciated Contents of the notes to the FS are supplemented in accordance with international guidance The survey data showed that the requirements of compared information with the previous year, retroactively adjusted prior figures 17 on FS affected the accounting data in the current financial year The revaluation estimation and accounting claim in the financial year are highly appreciated Timeliness is generally required of companies when they publish FAI There are urgent requirements in LCs for transparency and necessary to investors’economic decisions 5.1.2 Organizing internal control and the relationship between organizing internal control and the financial accounting information quality of listed companies in the Vietnam stock exchange The survey results of the control environment is highly evaluated in OIC of LCs, in which BOD’s responsibility for establishing FS and operate IC has the highest impact 39 out of 69 surveyed companies have internal audit departments (the Internal audit department required by law) According to the survey results, the accounting system providing FAI to ensure timely decision-making process is evaluated at the highest level In the integration process, the preparation of consolidated FS has to be done by high qualified staff 48 out of 69 companies (rate of 69.6%) have issued IC regulatory Most of the control procedures that effected directly to control that is highly appreciate The results show that the control environment has the highest impact, following by the control procedures and the accounting information system has the lowest impact to FAIQ of LCs 5.1.3 Organizing national controls and the relationship between organizing national controls and the financial accounting information quality of listed companies in the Vietnam stock exchange The survey results of ONC of FAI of LCs showed that SSC give requirements control, detect and make a report to handle violations however there are no allowance to investigate neither likely approach LCs Audit firms are allowed to approach LCs by signing audit contracts and designating by SSC The National Supervisory Committee handles 18 errors however its supervision on the entire capital market are not perfect The Ministry of Finance sets requirements of control of FAI of LCs and SSC is under the Ministry of Finance The research results showed that the relationship between FAIQ and ONC Therefore, it needs to improve FAIQ through improvement of the national supervisory agencies and their support functions This result indicates that if there is an absence of effective sanction regulations in the market, FAIQ of LCs will be affected 5.2 The solutions to improve organizing controls to enhance the financial accounting information quality of listed companies in the Vietnam stock market exchange 5.2.1 The need to strengthen the quality of financial accounting information of listed companies in the Vietnam stock exchange by improving organizing controls These solutions aim at FAIQ of LCs in the stock exchange through the improvement of OIC and ONC These help to reduce the risks of diclosured financial information in the stock exchange and thereby minimize systematic risk 5.2.2 The point of views of the solutions to improve organizing controls to enhance the financial accounting information quality of listed companies in the Vietnam stock exchange Firstly, control to provide FAI that ensures quality to protect investors’ benefits Secondly, ensurance to organize effective components of IC that provide highly qualified FAI for the interested parties to make decisions accurately and timeliness Last, ensurance that national supervisory agencies coordinate to monitor, manage disclosure FAI of LCs 19 5.2.3 The solutions to improve organizing controls to enhance the financial accounting information quality of listed companies in the Vietnam stock exchange Solutions of organizing internal control Firstly, complete environmental control by building BOD’s responsibility of financial reporting and internal control activities of LCs LCs make regulatories clearly for registration misstatement in FS of BOD and they are responsible to reimburse the losses to companies and investors Secondly, complete control environment by maitaining effectively internal audit departments in listed companies; reporting internal audit activities LCs need to organize and maintain effective internal audit departments complied with the law The Internal audit department reports the process of review of FS preparation and presentation Thirdly, complete control procedures through promulgating internal control regulations effectively in which detailed control procedures of each specific control process IC regulations detail control procedures for each specific control process Lastly, complete accounting information system through promulgation the process and organization of accounting works in LCs LCs need to build detailed accounting procedures for each position of the Accounting department LCs ussually review their accounting procedures, their process of FS preparation and presentation in order to ensure its compliance with current accounting standards and current accounting regualations Solutions of organizing national controls Solutions of accounting regulations and standards Firstly, add and complete Vietnam accounting standards system, which is the basis of FS preparation and add guidelines of accounting 20 ... ACCOUNTING INFORMATION OF LISTED COMPANIES IN THE VIETNAM STOCK EXCHANGE 5.1 Ananlysing the research results 5.1.1 The quality of financial accounting information of listed companies in the Vietnam. .. 5.2.1 The need to strengthen the quality of financial accounting information of listed companies in the Vietnam stock exchange by improving organizing controls These solutions aim at FAIQ of LCs in. .. non -financial companies listed in the Vietnam stock exchange 4.2.1 General evaluation of the quality of financial accounting information of non -financial companies listed on the Vietnam stock exchange