PROFESSIONAL SKILLS AND COMPETENCE Policy Professional personnel of audit firms must possess professional skills and competence, continuously maintain, update and raise their knowledge so as to accomplish their assigned tasks. Procedures Recruitment: 1. Audit firms must maintain a process of recruiting professional personnel by planning the personnel needs, setting recruitment objectives and requirements on qualification as well as compatibility of persons who perform the recruiting function. a/ Planning the needs of personnel in different posts and determining the recruitment objectives based on the existing number [...]

FRAUD AND ERROR   GENERAL PROVISIONS 01. The purpose of this Vietnamese Standard on Auditing (VSA) is to establish standards and fundamental principles and provide guidance on the auditor and the audit firm’s responsibility to consider fraud and error in an audit of financial statements. 02. When planning and performing audit procedures and in evaluating and in evaluating and reporting the results thereof, the auditor and the audit firm should consider the risk of material misstatements in the financial statements resulting from fraud [...]

CONSIDERING THE OBSERVANCE OF LAWS AND REGULATIONS IN THE AUDIT OF FINANCIAL REPORTS   GENERAL PROVISIONS 01. This standard aims to prescribe the basic principles and procedures and guide ways of applying the basic principles and procedures related to the auditors and auditing companies when considering the observance of laws and regulations by the audited units in the process of auditing the financial reports. 02. When drawing up plans and carrying out procedures for audit, when evaluating the results and making reports on [...]