WORKING HOURS Normal working hours 1. Working hours shall not exceed 08 hours per day or forty eight (48) hours per week. 2. The employer shall have the right to determine the working hours on a daily or a weekly basis; in case of weekly basis, the normal working hours shall not exceed 10 hours/1 day, but not exceed 48 hours/1 week The State encourages the employer to implement the 40-hour working week. 3. The working hours shall not exceed 06 hours in 01 [...]
EMPLOYMENTS Employments and employment creation. 1. Employments are activities that generate incomes that the law does not prohibit 2. The State, the employers and the society are responsible to create employments and ensure that everyone capable of working is offered employment possibilities. The right to work of employees 1. The employee is entitled to work for any employer at any place that the law does not prohibit. 2. The employee may directly contact the employee or via the employment services to seek employment towards their [...]
SALARY Salary 1. Salary is an amount that the employer pays to the employee for the performance of work as agreed. The salary includes the salary rate based on the work or the title, salary allowance and other additions The salary rate of the employee must not be lower than the minimal salary rate as prescribed by the Government. 2. The salary paid to the employee is based on the labor productivity and work quality. 3. The employer must guarantee to pay equally without the [...]
Rights and duties of employees 1. The employees are entitled to: a) Work, independently select works, vocations, get vocational training and improvement without discrimination; b) Receive salaries consistently with the vocational skills and grade on the basis of the agreement with the employer; receive work protection, work in safe and hygienic conditions; take official leave, paid annual leave and enjoy collective benefits; c) Establish, join and participate in activities of the Union, professional organizations and other organizations as prescribed by law; request and [...]
ENTERPRISE COLLECTIVE LABOR AGREEMENT Signing of the enterprise collective labor agreement 1. The person signing the enterprise collective labor agreement is regulated as follows: a) The labor collective party is the representative of labor collective at the grassroots level; b) The employer party is the employer or the employer’s representative. 2. The enterprise shall make the collective labor agreement into 05 copies, in which: a) Each signing party keeps 01 copy; b) 01 copy is sent to the state agency as prescribed in Article 75 of [...]
MAIN CLUES TO ACTS OF NON-OBSERVANCE OF LAWS AND REGULATIONS – Examination, inspection and investigation were already conducted by concerned functional bodies regarding the violations of laws and regulations such as borrowing and lending, payment relations, fines,…; – Payments were made without clear reasons or loans were provided to people with positions, powers; – Payments for services were too high as compared to other enterprises of the same branches or to the actual value of the provided services themselves; – Purchase/ sale prices [...]
Examples of Conditions or Events Which Increase the Risk of Fraud or Error Questions with respect to the integrity or competence of management – Management is dominated by one person (or a small group) an there is no effective oversight of the Directors of Board of Management; – There is a complex corporate structure where complexity suggests a deliberate act; – There is a continuing failure to correct major weaknesses in internal control and accounting systems where such corrections are practicable; – There is [...]
QUALITY CONTROL OF AUDITING ACTIVITIES GENERAL PROVISIONS 01. The purpose of this standard is to prescribe the basic principles and procedures and guide the application thereof to the quality control of audit work in the following aspects: a/ The audit firms’ policies and procedures relating to auditing activities; b/ Procedures relating to the work assigned to auditors and audit assistants in specific audits. 02. Auditors and audit firms must implement quality control policies and procedures for all auditing activities of audit firms and for [...]
COSTS INCURRED AFTER INITIAL RECOGNITION 23. The costs incurred after the initial recognition of tangible fixed assets shall be recorded as increase in their historical cost if these costs are certain to augment future economic benefits obtained from the use of these assets. Those incurred costs which fail to meet this requirement must be recognized as production and business expenses in the period. 24. The costs incurred after the initial recognition of tangible fixed assets shall be recorded as increase in [...]
DETERMINATION OF HISTORICAL COST OF TANGIBLE FIXED ASSETS ON A CASE-BY-CASE BASIS Procured tangible fixed assets 14. The historical cost of a procured tangible fixed asset consists of the buying price (minus (-) trade discounts and price reductions), taxes (excluding reimbursed tax amounts) and expenses directly related to the putting of the assets into the ready-for-use state, such as ground preparation expense; initial transportation, loading and unloading expense; installation and trial operation expense (minus (-) amounts recovered from products and wastes [...]
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