The audited units

The audited units

  1. 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:
  2. a) Enterprises with foreign investment;
  3. b) Credit institutions established and operating under the Law on Credit Institutions;
  4. c) Financial institutions, insurance enterprises, insurance brokerage firms.
  5. d) Public companies, issuers, and securities trading organizations.
  6. Enterprises and organizations that must be audited by the foreign auditing firms, branches of foreign auditing firms in Vietnam, including:
  7. a) State owned enterprises, except for the state owned enterprises operating in the field of state secrets as prescribed by law, must be audited for the annual financial statements;
  8. b) Enterprises, organizations implementing the national important projects, group-A projects using state funds, except for the projects in the field of state secrets as prescribed by law, must be audited for the settlement report of completed projects;
  9. c) Enterprises and organizations with state contributed capital and the projects funded by other State capital prescribed by the Government, must be audited for the annual financial statements or the settlement report of completed projects;
  10. d) Auditing firms, branches of foreign auditing firms in Vietnam must be audited for the annual financial statements.
  11. The audit for financial statements and reports on the settlement of completed projects for enterprises and organizations specified in points a, b and c clause 2 of this Article does not substitute for the audit of the State Auditor.
  12. Enterprises and organizations voluntarily audited.

Rights of the audited units

  1. To select the auditing firm, branch of foreign auditing firms in Vietnam and practicing auditor having enough conditions to practice under provisions of law to conclude the audit contracts, except for otherwise provided for by law.
  2. To require the auditing firms, branches of foreign auditing firms in Vietnam to provide information in the registration documents for audit practice and information on practicing auditors and auditing firms, branch of foreign auditing firm in Vietnam to conducting the audits.
  3. To refuse to provide information and documents which are not related to the content of the audit.
  4. To request replacement of members participating in the audit when having evidence that such member violates the principle of independent audit activity during the audit.
  5. To discuss, explain in writing on the issues raised in the draft of audit statement if inappropriate.
  6. To complaint the acts of participants in the audit during the audit when having evidence that such act is unlawful.
  7. To demand compensation in case of auditing firms, branches of foreign auditing firms in Vietnam, cause damages.
  8. Other rights in accordance with the law regulations.

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