Contents of the Certificate of eligibility for providing audit services

Contents of the Certificate of eligibility for providing audit services A Certificate of eligibility for providing audit services contains the following information: a) Name of the audit firm in Vietnamese and foreign languages (if any); its abbreviated name (if any); and address of the head office; b) Full names of the legal representative and the Director of the audit firm (if the Director is not the legal representative); c) The number and date of issue of the Certificate of eligibility for providing audit [...]

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Applicable to branches in Vietnam of foreign audit firms

The dossier of application for the Certificate of eligibility for providing audit services The application for the Certificate of eligibility for providing audit services (according to the template in Annex I). The copy of the License to provide audit services of the foreign audit firm (or an equivalent paper) as prescribed by the law of its home country. The copy of the License to open branches in Vietnam of the foreign audit firm. The written commitments to take the full responsibility being sent [...]

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CERTIFICATE OF ELIGIBILITY FOR PROVIDING AUDIT SERVICES

CERTIFICATE OF ELIGIBILITY FOR PROVIDING AUDIT SERVICES The dossier of application for the Certificate of eligibility for providing audit services, applicable to limited liability companies, partnerships, and private enterprises The application for the Certificate of eligibility for providing audit services in Vietnamese (according to the template in Annex I). The copy of the Certificate of Business registration or Certificate of Enterprise registration or Investment certificate. The list of full-time auditors having labor contracts (according to the template in Annex III). The copy of the [...]

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Audit statements on other audit works

Audit statements on other audit works The audit statement on the other audit works shall be made on the basis of provisions in Article 46 of this Law and auditing standards consistent with each audit. Audit Opinion Based on the result of the audit, the practicing auditor and auditing firm, branch of foreign auditing firm in Vietnam must express their opinion on the financial statement and other contents which have been audited under the regulations of auditing standards. The Ministry of Finance shall [...]

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Audit service fees

Audit service fees Fees for audit services agreed by auditing firms, branches of foreign auditing firms in Vietnam and the client in the audit contracts upon the following bases: a) The contents, volume and nature of work; b) Time and working conditions of practicing auditors, auditors used to perform the services; c) Qualifications, experience and reputation of practicing auditors, auditing firms, branches of foreign auditing firms in Vietnam; d) The level of responsibility and time limit that the performance of services requires Audit service fees [...]

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Revoking the Certificate of eligibility for providing audit services

Suspending the provision of audit services An audit firm shall be suspended from providing audit services in one of the cases in Clause 1 Article 27 of the Law on Independent audit. The audit firms suspended from providing audit services shall stop providing audit services from the day on which the decision on suspension is made. The Ministry of Finance shall announce the decision to suspend the provision of audit services on the website of the Ministry of Finance within 07 [...]

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Receipt of audit services

Receipt of audit services Auditing firms, branches of foreign auditing firms in Vietnam are entitled to receive the audit services only in accordance with their capabilities within the client’s requirements. Upon receipt of audit services, auditing firms, branches of foreign auditing firms in Vietnam must inform clients of the rights, obligations, and their professional responsibilities in the performance of audit services, limitation of financial liability of auditing firms, branches of foreign auditing firms in Vietnam and practicing auditors when occurring audit [...]

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Obligations of the audited units

Obligations of the audited units To provide fully, accurately, truthfully, timely, objectively the necessary information and documents under the requirements of practicing auditors and auditing firms, branches of foreign auditing firms in Vietnam and take responsibility before the law for the information and documents provided. To implement the requirements of practicing auditors and auditing firms, branches of foreign auditing firms in Vietnam on the collection of audit evidence as required by auditing standards and correction of errors for the audit statement [...]

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The audited units

The audited units The enterprises and organizations that as prescribed by law, their annual financial statements must be audited by the foreign auditing firms, branches of foreign auditing firms in Vietnam, including: a) Enterprises with foreign investment; b) Credit institutions established and operating under the Law on Credit Institutions; c) Financial institutions, insurance enterprises, insurance brokerage firms. d) Public companies, issuers, and securities trading organizations. Enterprises and organizations that must be audited by the foreign auditing firms, branches of foreign auditing firms in Vietnam, including: a) [...]

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Termination of carrying on business of audit services

Termination of carrying on business of audit services Auditing firms terminate the business of audit services in the following cases: a) To terminate by themselves; b) To be divided, separated, merged, consolidated, dissolved; c) To be withdrawn business registration certificate, certificate of enterprise registration, investment certificate or certificate of sufficient conditions to carry on business of audit services; d) Director of the private enterprise is deceased; đ) Other cases in accordance with regulations of the law on enterprises. Branches of foreign auditing firms in Vietnam terminate [...]

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