New Regulations on Reward Policies for Enterprises

Illustration (source internet)

According to Circular 12/2019/TT-BNV, the proposal for forms of commendation for enterprises subject to mandatory audit under the Law on State Audit and the Law on Independent Audit must include an Audit Report from a competent auditing authority within 5 years before the commendation proposal. For enterprises not subject to mandatory audit, the performance report must state the basis for not being subject to mandatory audit.

For enterprises requesting the “Emulation Flag of the Government of Vietnam” that are subject to audit, an audit report must be provided (if the audit report is not yet available, the commendation proposal shall be submitted after the audit results are obtained as regulated).

In addition, groups and individuals belonging to enterprises operating at the location of the main transaction office are commended or proposed for commendation by the Head of the enterprise or proposed to the Chairman of the People's Committee of the province where the main transaction office is located or proposed to higher authorities for commendation.

Member units of the enterprise that are independently accounted and perform obligations in a locality other than the location of the main transaction office may be commended by the Head of the unit according to their authority or proposed to the Chairman of the People's Committee of the province where the enterprise registration certificate or the establishment and operation license is issued or proposed to higher authorities for commendation.

In cases where groups or individuals within an enterprise have made contributions to a locality other than where the enterprise's main office is located, such groups or individuals may be commended by the Chairman of the People's Committee of the province where the achievements were made according to their authority.

See the full text of the regulations at Circular 12/2019/TT-BNV effective from January 1, 2020.

Thu Ba

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