23/08/2019 0 Comments 0

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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22/07/2019 0 Comments 0

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following cases: a) To terminate by themselves; b) To be divided, separated, merged, consolidated, dissolved; c) To be withdrawn business registration certificate, certificate of enterprise registration, investment certificate or certificate of sufficient conditions to carry on business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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20/06/2019 0 Comments 0

Branches of auditing firms

Branches of auditing firms Conditions for the branches of auditing firms entitled to carry on business of audit services: a) Auditing firms have sufficient conditions to carry on business of audit services as stipulated in Article 21 of this Law; b) A branch has at least two practicing auditors, including the branch director. Two practicing auditors are not at the same time as auditor registering to practice in the head office or other branches of auditing firms. c) Being approved in writing by [...]

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19/05/2019 0 Comments 0

The cases that auditing firms and branches of foreign auditing firms in Vietnam are not entitled to audit

The cases that auditing firms and branches of foreign auditing firms in Vietnam are not entitled to audit Auditing firms are not entitled to perform audit in the following cases: a) Doing or having done in the preceding year the work of book keeping, making financial statement, or internal audit to the audited unit; b) Doing or having done in the preceding year the services different from the services specified in point a of this clause affecting the independence of practicing auditors [...]

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18/04/2019 0 Comments 0

Rights of auditing firms, branches of foreign auditing firms in Vietnam

Rights of auditing firms, branches of foreign auditing firms in Vietnam Auditing firms have the following rights: a) To provide the services stipulated in Article 40 of this Law; b) To receive fee; c) To establish branches carrying on business of audit service; d) To locate its establishment to carry on business of audit service in foreign countries; đ) To participate in the international audit organizations, professional organizations on audit; e) To request the audited units to provide sufficiently and timely the necessary information, documents and [...]

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17/03/2019 0 Comments 0

The fees for granting, modifying Certificate of sufficient conditions to carry on business of audit services

The fees for granting, modifying Certificate of sufficient conditions to carry on business of audit services   Auditing firms, branches of foreign auditing firms in Vietnam request for granting, re-granting, modifying Certificate of sufficient conditions to carry on business of audit services must pay fees. Minister of Finance shall prescribe the fees for granting, re-granting, modifying the Certificate of sufficient conditions to carry on business of audit services. The changes must be notified to the Ministry of Finance Within ten days from the date [...]

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16/02/2019 0 Comments 0

Dossiers of application for certificate of sufficient conditions to carry on business of audit services

Dossiers of application for certificate of sufficient conditions to carry on business of audit services Dossiers of application for certificate of sufficient conditions to carry on business of audit services include: A written application for certificate of sufficient conditions to carry on business of audit services; A copy of business registration certificate, certificate of enterprise registration certificates or investment certificate; A copy of certificate of registration of practicing audit of the practicing auditors; Full-time labor contracts of practicing auditors; Documents proving the contributed capital for [...]

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15/01/2019 0 Comments 0

Conditions for granting certificate of sufficient conditions to carry on business of audit service

Conditions for granting certificate of sufficient conditions to carry on business of audit service When the Limited liability Company with two or more members requests for granting certificate of sufficient conditions to carry on business of audit services, must meet fully the following conditions: a) Having certificates of business registration, certificate of enterprise registration or certificate of investment in accordance with the law regulations; b) Having at least five practicing auditors, in which must have at least two members contributing capital; c) Legal [...]

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14/12/2018 0 Comments 0

The cases that practicing auditors are not allowed to audit

The cases that practicing auditors are not allowed to audit Practicing auditors are not allowed to audit in the following cases: as members, founding shareholders, or purchasing shares or capital contribution in the audited unit; as those who hold managerial, administrative positions, members of the inspection committee or chief accountant of the audited units; as those who hold managerial, administrative positions, members of the inspection committee or chief accountant of the audited units for the audited financial year; within two years from the time [...]

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13/11/2018 0 Comments 0

Rights of practicing auditors

Rights of practicing auditors When practicing in the auditing firms, branch of foreign auditing firms in Vietnam, practicing auditors have the following rights: To practice audit in accordance with regulations of this Law; To be independent on professional skill; To request the audited unit to provide adequate and timely necessary information, documents and explain the issues related to the audit contents; to request inventory of assets, debt comparison of the audited unit related to the audit contents; to inspect all records and documents [...]

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