Termination of carrying on business of audit servicestaodoadmin
- 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- c) To be withdrawn business registration certificate, certificate of enterprise registration, investment certificate or certificate of sufficient conditions to carry on business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 the business of audit services in the following cases:
- a) As decided by the foreign auditing firm that has established its branch;
- b) According to provisions in point c and point đ clause 1 of this Article.
- In case of termination of the business of audit services as stipulated in point a clause 1 of this Article, the auditing firm must notify in writing to the Ministry of Finance no later than thirty days prior to the termination date.
- The Ministry of Finance shall specify the procedures for termination of the business of audit services.
Termination of operation of branches of auditing firms
- Branches of auditing firms terminate its operation in the following cases:
- a) As decided by the auditing firm that has established its branch;
- b) The auditing firms that have established the branch terminating its operation;
- c) Other cases in accordance with regulations of law on enterprises.
- Auditing firms have the rights and perform the obligations of its branches and resolve the issues related to the termination of operation of its branch.
Foreign auditing firms
Foreign auditing firms perform the audits in Vietnam in the following forms:
- Contributing capital to the auditing firm that has been established and operating in Vietnam to establish an auditing firm;
- Establishing branches of foreign auditing firms;
- Providing audit services across the border in accordance with the Government’s provisions.