DECREE

Detailed regulations and guidelines that implement some of the provisions of the Independent Audit Law

______________________

Government Law Base December 25, 2001;

The Independent Audit Law Base March 29, 2011;

At the request of the Minister of Finance;

The government issued a regulatory regulation and guidelines for the implementation of some of the provisions of the Independent Audit Law.

Chapter I

GENERAL REGULATION

What? 1. The adjustment range

This decree rules the details and guidelines of some of the provisions of the Independent Audit Law on the Occupational Organization for Audit; the audit enterprise; which provides audit services across the border; the unit is audits; the audit and storage report, using the audit. You know, and the audit records are destroyed.

What? 2. Subject applies

This decree applies to audits, auditor auditor, auditor business, foreign audit enterprise branch, foreign audit business that provides audit services across the border in Vietnam, the unit audits, the organization of the company. Career in audit and organization, other individuals are associated with independent audit activities.

What? 3. Explain words

In this decree, the terms below are understood as follows:

1. Corporate audits in Vietnam: The business is established and operates under the regulation of Vietnamese law, which is eligible for a regulatory audit service, and has been certified by the Ministry of Finance of Vietnam. Audit services.

2. The holder of the management, executive responsibility: Including the owner, the private business director, the company member of the firm, the Chairman of the Board, the Chairman of the Company, Chairman of the Board, member of the Board, member of the Council of the City. The Director, Director, or General Manager, Deputy Director, or Deputy Director General of the Company; Director, Deputy Director of the audit business branch and other management functions under the regulation at the Company ' s equivalent or equivalent text, organization.

3. Provides cross-border audit services: The provision of audit services of enterprises audits in a country for businesses, organizations belonging to another country.

Chapter II

SPECIFIC REGULATION

Item 1

PROFESSIONAL ORGANIZATION OF AUDIT

What? 4. Career organization on audits

1. The occupational organization on audits is the professional social organization of audits, auditor auditor, auditor business in the country.

2. Career organization on audits:

a) A fostering knowledge for auditor, auditor auditor;

b) Perform the study, update, update of the Vietnam audit standard system on the basis of an international audit standard system according to the construction process, issue and publication of the Vietnam audit Standards, the Minister of Finance issued;

c) Join the auditor exam;

d) Coordinate with the Ministry of Finance to implement the audit, control of the quality of the audit service.

3. The Treasury Department specifically regulates the conditions, the ways, the reporting and monitoring modes, the inspection, the inspection of the activities of the professional organization on the regulatory audit at Clause 2 This.

Item 2

AUDITOR BUSINESS

What? 5. Legal capital for Limited Liability Company

1. The legal capital for the LLC is 3 (3) of Vietnam; from 1 January 2015, the legal capital is 5 (year) of Vietnam.

2. During the operation, the LLC must always maintain equity on the balance sheet less than the specified capital of Article 1 This Article. The auditor business must add capital if equity on the balance sheet is lower than the specified legal capital at Clause 1 This is in time 03 (three) months from the date of the end of the fiscal year.

What? 6. Members are the organization of the two-member LLC.

1. The membership is the organization that contributes to a maximum of 35% of the charter capital of the limited liability company audits of two or more members. In the case of multiple capital organizations, the total number of contributions of the organizations is equal to 35% of the company's charter capital LLC.

2. The member is the organization to send a person who serves as a representative to the Board of Members. The member's representative is an auditor and must register as an executive at the audit business that the organization participate in.

3. An auditor, an administrator, is a member of the member, an organization that is not involved in that audit business as an individual.

What? 7. The level of capital auditor

1. LLC audits must have at least 2 (two) members who are a member of the company. The cost of the auditor's audits must account for over 50% of the company's charter capital.

2. The executive auditor is not simultaneously a contributing member of two of the audit enterprises or more.

What? 8. The minimum capital for foreign audit business has established branches in Vietnam and the capital is issued by the foreign-auditor business branch in Vietnam.

1. The foreign auditor business recommended granting the Certificate of Audit Services Business to the branch of the foreign audit business in Vietnam must have equity on the balance sheet at the time of the end of the fiscal year. The closest to the time of offering a certificate granting the payment services business to the minimum branch is equivalent to 500,000 (five hundred thousand) dollars.

2. The allocated capital of the foreign auditor branch in Vietnam is no less than the legal capital level for the limited liability company stipulated at Article 5 of this Decree.

3. In the process of operating a foreign audit enterprise must maintain equity on the balance sheet and the allocated capital of the branch in Vietnam is no less than the specified capital at Clause 1 Article. The foreign audit business, the foreign-audit business branch must add capital if equity on the balance sheet of the foreign audit business and of the foreign-auditor business branch in Vietnam is lower. The levels specified in Clause 1 and Clause 2 in time 03 (three) months from the end of the fiscal year.

What? 9. The business of audits, the branch of the foreign audit business in Vietnam is not done audits.

In the case of business audits, the branch of the foreign auditor business in Vietnam is not implemented as a regulatory audit at Article 30 of the specific Guided Independent Audit Law as follows:

1. Enterprise audits, the branch of the offshore audit business in Vietnam is implementing or having made it in the previous year adjacent to one of the following services for the unit audits:

a) Accounting for accounting, financial reporting;

b) perform internal audit services;

c) Design and implementation of internal control procedures;

d) Other services have an effect on the independence of an executive auditor and an audit business, the corporate branch of foreign audits in Vietnam as defined by the standard ethical standard of accounting, audits.

2. Members participate in the audit, who is in charge of management, executive, board member, chief accountant (or accounting charge) of the auditor business, the foreign audit business branch in Vietnam is a member, shareholder, and shareholder. founder or holding a stock, which contributes to the unit audits or has economic, other financing with the unit audits according to the provisions of the standard ethical standard of accounting, audits.

3. Who is in charge of management, executive, board member, chief accountant (or accounting charge) of the auditor business, the foreign audit business branch in Vietnam has a father, mother, wife, husband, child, brother, sister, sister, sister, The shareholder is either founded or holds the stock, which contributes and holds up to 20% of the voting rights to the unit that is auditated or who is responsible for management, executive, board member, control officer, chief accountant (or accounting charge) of the government. The unit is audable.

4. The person in charge of management, executive, board member, control officer, chief accountant (or accounting charge) of the unit auditfully audits and holds from 20% of the voting rights to the auditor, It ' s a foreign-auditor branch in Vietnam.

5. Enterprise audits, the foreign-auditor business branch in Vietnam and the unit audits have the following relationships:

a) There is the same individual or business, organization established or participating in the establishment;

b) The same directly or indirectly subject to the executive, control, which contributes to the form of another party;

c) is run or subject to the control of personnel, finances and business activities by individuals of one of the following relationships: Wife and husband; father, mother and child (not to distinguish the child, adoption or daughter-in-law); he, sister, I have the same father, mother. (not to distinguish him from birth, birth, foster father, foster mother); grandfather, grandmother and grandson; maternal grandmother, grandmother, and grandson; she, uncle, uncle, uncle, aunt, and grandson;

d) There is business cooperation agreement on the basis of contract;

The same company or legal person is the same network as defined by the standard of audits.

6. The unit audits made in the prior year adjoining or is performing a financial reporting audit or other audit services to the auditor business itself, the foreign-auditor business branch in Vietnam.

7. The unit audits is the organization that contributes to the audit business; the unit audits is a parent company, subsidiaries, affiliated companies, joint venture companies, subordinated units, subordinated units, companies and corporations of the organization that contribute to their business. Audits.

8. Enterprise audits directly or indirectly enters the running, control, which is capital under all forms into the auditable unit.

9. The other case by the regulation of the standard ethical standards of accounting, audit and regulation of the law.

Section 3

PROVIDES AUDIT SERVICES ACROSS THE BORDERS OF THE FOREIGN AUDIT BUSINESS.

What? 10. The Subject provides audit services across the border

The subject provides cross-border audit services to businesses, held in Vietnam as an audit business with nationality in the member country of the World Trade Organization or country with a treaty with Vietnam over the provision of services to the country. Check the border.

What? 11. The conditions provide audit services across the border

1. The foreign audit business has enough of the following conditions that are registered to provide audit services across the border:

a) is allowed to provide an independent audit service under the regulation of the law of the country where the foreign audit business is headquartered;

b) The text of the auditor administration authority (the state governing body for independent audits or professional organization) where the business closed the headquarters allows for the provision of services across the border in Vietnam and confirmed not to violate the regulations. of its independent audit operation and other foreign law regulations within the next three years of the year-to-year offer of certificate of certification is provided for audit services across the border;

c) There are at least 5 (year) auditor issued by the Ministry of Finance of Vietnam issued a registration of audit practice, which has a representative under the law;

d) There is equity on the balance sheet equivalent to 500,000 (five hundred thousand) dollars at the end of the fiscal year before the year of the provision of a border audit service in Vietnam;

There is a professional responsibility insurance for auditor audits in Vietnam;

e) The deposit required the amount of money equivalent to the specified capital at 1 Article 5 This decree at a commercial bank operating legally in Vietnam and has the bank's payment guarantee of payment in case of liability. the audit contracts that provide services across the border in Vietnam exceed the mandatory deposit rate;

g) Perform full reporting obligations and other obligations stipulated at Article 13 This decree.

2. Foreign audit business is provided only by border audits in Vietnam after it has registered and is certified by the Ministry of Finance of Vietnam to qualify for its audit services business across the border in Vietnam. The method of providing audit services across the border must be done by regulation at Article 12 of this Decree.

3. Foreign audits must always maintain regulatory conditions at Clause 1 This during the duration of the Certificate of Eligible Audit Services business in Vietnam. When not guaranteed one of those conditions, the offshore audit business is responsible for informing the Ministry of Finance for a 20-day period since the date of no longer qualifying under regulation.

What? 12. The method of providing audit services across borders

1. A foreign audit business when providing a border audit service in Vietnam must perform in contact with the auditor business in Vietnam that is eligible to provide audit services under the rule of law.

2. Only the auditor business guarantees sufficient regulatory audit business conditions at Article 21 Independent Audit Law and this Decree, which has obtained a sufficient certification of the new audit service business that is in venture with the auditor business. It ' s foreign to provide services across the border.

3. Foreign audit business, auditor business in Vietnam in association with foreign auditor business when providing audit services across the border and the unit audits must engage the audit contract in accordance with the provisions of the law. Vietnam. The audit contract must be full of the signature of the representative under the law of the foreign auditor business, of the audit business in Vietnam and of the unit audits.

4. Foreign and auditor business in Vietnam must set up a joint contract on the provision of a border audit service. The contract contract must be clear of the responsibility of the foreign and business auditor business in Vietnam in the provision of the audit services across the border.

5. Foreign audits, audits in Vietnam to join an audit consensus contract that must send an executive auditor in charge part of the audit part of its business in the audit contract.

6. The audit report must have the signature of the representative under the law of the foreign audit business, of the auditor business in Vietnam and the practice auditor is in charge of the audit part of each business ' s responsibility. In the audit contract.

7. The contract for audit, contract contracts, audit records, and audit reports must be simultaneously in both Vietnamese and English languages.

8. Every payment transaction and money transfer associated with the provision of an audit service across the border must be made in the form of a transfer pass through the credit organization permitted under the rule of the law on foreign exchange management of Vietnam.

What? 13. The responsibility of the offshore audit business provides audit services across the border.

1. The personnel layout has the appropriate level of expertise to secure the quality of the audit service. In compliance with the regulations on prohibited behaviors, cases are not made auditable to the auditor's auditor and auditor business and other regulations are related to the independent audit law of Vietnam.

2. Compliance of the Vietnam audits for the implementation of a border-based audit service in Vietnam.

3. Blisters and perform other financial obligations that are related to the provision of a border-based audit service in Vietnam under the provisions of the Vietnamese tax-current law.

4. On a six-month period once the Ministry of Public Finance is reporting the contract to provide a contract for audit services across the border during the period in Vietnam. The report was issued by the Ministry of Finance.

5. The person who is responsible, represents the business of reporting, the process for Vietnam ' s functional bodies in relation to the audit contract, audit records, audit reports, and other issues related to the provision of services across the border at the University of Vietnam. Vietnam.

6. Nbb to the Ministry of Finance of the annual financial report has been audits included with the audit report of the independent audit organization and the review text of the audit management agency that audits the business where the business is based on the situation implementation of the rules. The law on audit activities and other legal regulations of the business in the 120-day period since the end of the fiscal year.

7. Perform the rights, obligations of the regulatory enterprise specified in Article 28 and Article 29 and comply with the other regulations that are related to the Independent Audit Law of Vietnam.

What? 14. The responsibility of the auditor business in Vietnam is involved in a contact with the foreign audit business to provide audit services across the border.

1. Store the full audit records of the audit made in contact to provide the authorities when requested.

2. Take responsibility before the law on the results of the audit. Responsible for accountability with the authorities on audit reporting, audit records, and other issues arise from the audit in association with foreign auditor business.

3. Report of the Ministry of Finance periodically on the implementation of a six-month period on the implementation of the situation in terms of a foreign audit enterprise in the provision of a border-based audit service during the report. The report was issued by the Ministry of Finance.

4. Under the control of the annual audit service according to the provisions of the Ministry of Finance.

Section 4

UNIT AUDITS

What? 15. The unit audits

1. Enterprise, the organization that the law that regulates the annual financial report must be audits to be audits, the corporate branch of the foreign audit business in Vietnam audit, including:

a) Business has foreign investment capital;

b) The organization of credit is established and operates under the Law of Credit Organizations, including the branch of foreign banks in Vietnam;

c) Financial organizations, insurance businesses, reinsurance businesses, insurance brokerage enterprises, foreign-life insurance business affiliates.

d) The public company, the organization that releases and organizes the stock business.

2. Companies, other organizations, are required to audit according to the regulation of the relevant legislation.

3. Enterprise, organization must be audable, the branch of the foreign audit business in Vietnam audits, including:

a) The state-owned enterprise, excluding the state-owned enterprises operating in the field of state secret under the rule of law must be auditated for the annual financial report;

b) The business, organization of the national importance project, project A group A use of state capital, excluding projects in the area of state secret under the rule of law must be audits for the completion of the project decision report;

c) The business, the organization that corporations, the total state company that holds from 20% of the voting rights upward at the end of the fiscal year must be audits to the annual financial report;

d) The business in which the listed organizations, the organization to release and organize the securities business that holds from 20% of the voting rights upward at the end of the fiscal year must be audalized for the annual financial report;

Enterprises audits, branches of foreign audits in Vietnam must be audits for annual financial statements.

4. Businesses, the organization of the subject must audit annual financial statements stipulated at Clause 1 and Clause 2 This if the law of the law must first report a merger or a synthetic financial report must perform the audit. A merger of the merged financial statements or aggregate financial statements.

5. The audit of financial statements and the completion of the completed project decision on the business, the organization stipulated at the points a and b 2 This does not replace the audit of the State Audit.

6. Businesses, other organizations voluntarily get audits.

Section 5

AUDIT REPORT

What? 16. audit report

1. The audit report on the financial statements and the audit report on other audit work of the subject required to audit under the provisions of the law established by the regulation of the Vietnam audit norm.

2. The practice auditor is not signed to the audit report for a unit that is audits audits (03) years of continuous.

What? 17. The program on the content except for the audit report

1. The state governing body has jurisdiction in each of the relevant sectors that has the right to require an audit business, the foreign audit business branch in Vietnam, the foreign audit enterprise provides audit services across the border, the unit said. is either directly audits or written about the content except in the audit report.

2. Corporate Chairman, Board of Directors, Board Member of the Audit Unit has the right to require an audit business, the branch of foreign audit business in Vietnam, the foreign audit business that provides audit services through the company ' s borders. the direct or written text of the content except in the audit report.

3. When there is a requirement of the specified objects at Clause 1 and Clause 2 This, the audit business, the foreign audit business branch in Vietnam, the foreign audit business provides audit services across the border and the unit is checked out. accounting for direct or written accountability.

Section 6

STORE, USE AND DESTROY AUDIT RECORDS

What? 18. Store audit records

1. Enterprise audits, branches of foreign audits in Vietnam must design and implement policies and procedures to maintain security, safety, integrity, accessibility and recovery of regulatory audit records. of the audit norm.

2. The audit record can be stored in paper or electronic data.

3. The audit business, the foreign-auditor business branch in Vietnam must design and implement audit records and procedures on audit records in a minimum term of 10 years from the date of the release of the audit report of the audit. accounting by the regulation of the audit norm.

What? 19. Mining, use of audit records

Only mined, using audit records in the following cases:

1. In accordance with the decision of the competent person of the auditor business, the branch of the business of foreign audits in Vietnam on the basis of ensuring the obligation in accordance with regulations at Article 43 of the Independent Audit Law.

2. At the request of the People 's Court, the Institute for People' s Examination, The Investigative Body, The Inspection Authority, State Audit, The Ministry Of Finance, and the agencies, the other organization by law.

3. When there is a request to examine the quality of audit; resolve the complaint, dispute in audit activity and other requirements under the rule of law.

What? 20. Destroy audit records

1. The audit filing ran out of storage deadline, if no decision by the state agency has jurisdiction to be culled by the decision of the representative under the law of the audit business or director of the water audit business branch. Out in Vietnam.

2. The storage audit records of the auditor business, which branch of the overseas audit business, the business audits, the branch that performs the destruction.

3. The audit filing is stored in paper, the audit business, the foreign audit business branch in Vietnam that does the destruction of audit records by burning, cutting, raking by machine or by other methods but has to secure the audit. information, the data in the already destroyed audit records cannot be used again.

4. The archive audit records by electronic data are culled in accordance with the regulation of the relevant law.

5. The procedure for the destruction of the audit document:

a) The representative of the law of the auditor business, the director of the foreign-auditor business branch in Vietnam decided to establish "The Board of Destruction of the Filing Expired Audit Records". The Council component must have: Head of the audit business or director of the offshore audit business branch in Vietnam, the representative of the storage department and the specialized department representative;

b) The Board of Destruction Profiles must conduct inventory, evaluation, classification according to each type of audit records, set up "Target audit records category" and "Border destroy records audit expiration";

c) "The record destruction of the audit record expires" must be immediately after the destruction of the audit record and must specify the content: The type of audit records destroyed, concluded, and the signature of the Board members.

What? 21. Archives, exploit, use of electronic audit records and records, documents on other services, and other services.

1. The audit record stored in electronic data is that magnetic tapes, the magnetic disk ... must be arranged in time order, preserved with sufficient technical conditions against the degradation of the evidence from electronic and anti-legal information access from the outside. Out.

2. The case where audit records are stored using electronic data on a special device must store the appropriate readable readout devices when needed.

3. The storage, exploitation, use and destruction of audit records is stored using the prescribed electronic data in accordance with Articles 18, 19, 20 of this Decree.

4. The establishment, storage of storage, destruction and exploitation, use of records, documents on other services stipulated at Point 1 Article 1 Article 40 of the Independent Audit Law is done as for the prescribed audit record at Articles 18, 19, 20 and Clause 1, Paragraph 2 Article 21 of this decree.

Chapter III

THE ORGANIZATION.

What? 22. transition regulation

In the term 02 (two) years, since the independent audit law is valid, the business provides audit services ahead of the independent Audit Law day that is effective at ensuring conditions under the provisions of the Independent Audit Law and regulations at the International Parliament. This is to be granted a license to qualify for the audit services business.

Prior to 30 days from the expiration of the two-year period of transition to the audit business must make the filing of the Finance Ministry granting the certification of the audit services business under the provisions of the Independent Audit Law and the manual text.

What? 23.

This decree has been in effect since 1 May 2012.

What? 24.

The Minister of Finance has the responsibility of guiding the implementation of this decree; the ministers, the chief of the peer-agency, the Chief of the Government of the Government, the Chairman of the People's Committee of the provinces, the Central City of the Central Committee, is responsible for the implementation of the decree. Hey.