What are the cases of re-issuance of the Certificate of eligibility for providing audit services in Vietnam?
- What is the application for re-issuance of the Certificate of eligibility for providing audit services in Vietnam?
- What are the procedures for issuing, reissuing, and amending Certificate of eligibility for providing audit services in Vietnam?
- What are the cases of re-issuance of the Certificate of eligibility for providing audit services in Vietnam?
What is the application for re-issuance of the Certificate of eligibility for providing audit services in Vietnam?
Dossier to request re-issuance of Certificate of eligibility to conduct business in auditing services is specified in Clause 2, Article 24 of the Law on Independent Auditing 2011 below:
Re-granting, modification of Certificates of sufficient conditions to carry on business of audit services
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2. Dossier of application for re-granting, modifying the certificate of sufficient conditions to carry on business of audit services includes:
a) Written request for re-granting, modifying the certificate of sufficient conditions to carry on business of audit services;
b) The original certificate of sufficient conditions to carry on business of audit services which has been granted, except for the case that the original copy is no longer;
c) Other documents related to the re-granting, modification of certificate of sufficient conditions to carry on business of audit services.
3. Within twenty days from the date of receiving valid dossiers, the Ministry of Finance re-grants, modifies the certificate of sufficient conditions to carry on business of audit services; in case of refusal, the Ministry of Finance must reply in writing, and states clearly the reason.
At the same time, in Clause 2, Article 10, Circular 203/2012/TT-BTC has the following guidance:
Reissuing the Certificate of eligibility for providing audit services
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3. The dossier of application for the reissuance of the Certificate of eligibility for providing audit services when it is lost of damaged includes:
a) The application for the reissuance of the Certificate of eligibility for providing audit services (according to the template in Annex VII);
b) The original copy of the issued Certificate of eligibility for providing audit services, unless it is lost;
c) Relevant documents.
4. The dossier of application for the reissuance of the Certificate of eligibility for providing audit services in case of a division, split, merger, amalgamation, or conversion of the form of ownership is made in accordance with Article 5 and Article 6 of this Circular.
Thus, the dossier of application for the reissuance of the Certificate of eligibility for providing audit services when it is lost of damaged includes:
- The application for the reissuance of the Certificate of eligibility for providing audit services (according to the template in Annex VII);
- The original copy of the issued Certificate of eligibility for providing audit services, unless it is lost;
- Relevant documents.
Dossier to request re-issuance of Certificate of eligibility for providing audit servicesin case of a division, split, merger, amalgamation, or conversion of the form of ownership is made in accordance with Article 5 and Article 6 of Circular 203/2012/TT-BTC.
What are the cases of re-issuance of the Certificate of eligibility for providing audit services in Vietnam?
What are the procedures for issuing, reissuing, and amending Certificate of eligibility for providing audit services in Vietnam?
The order and procedures for reissuing the Certificate of eligibility to conduct business in auditing services are specified in Article 7 of Circular 203/2012/TT-BTC as follows:
The order and procedure for issuing, reissuing, and amending Certificate of eligibility for providing audit services
1. The applicant for the issuance, reissuance, or amendment of the Certificate of eligibility for providing audit services shall send one dossier as prescribed in this Circular to the Ministry of Finance.
2. If no request for supplementation or explanation is made after the period in Clause 1 Article 23 and Clause 3 Article 24 of the Law on Independent audit, the Ministry of Finance shall consider issuing, reissuing, or amending the Certificate of eligibility for providing audit services; the refusal must be notified and explained in writing by the Ministry of Finance.
3. Where the dossier of application is not valid, the Ministry of Finance shall request the applicant to complete the dossier within 10 working days from the day on which the dossier is received.
4. When receiving the written request from the Ministry of Finance, the applicant must complete the dossier in accordance with the request and send it back to the Ministry of Finance. After 10 working days from the day on which the supplemented dossier is received, if the Ministry of Finance does not make any written request for additional supplementation, the Ministry of Finance shall consider issuing, reissuing, or amending the Certificate of eligibility for providing audit services within the time limit in Clause 1 Article 23 and Clause 3 Article 24 of the Law on Independent audit.
5. Where the applicant does not correct supplement the dossier in accordance with the request, the Ministry of Finance shall request the applicant to complete the dossier as prescribed in Clause 3 and Clause 4 of this Article.
According to the above regulations, the applicant for the reissuance of the Certificate of eligibility for providing audit services shall send one dossier as prescribed in this Circular to the Ministry of Finance.
- Within 20 days from the day on which the dossier is received, if there is no additional request or explanation, the Ministry of Finance will consider re-issuing the Certificate of eligibility for providing audit services; In case of refusal, the Ministry of Finance must provide a written response clearly stating the reason.
- Where the dossier of application is not valid, the Ministry of Finance shall request the applicant to complete the dossier within 10 working days from the day on which the dossier is received.
- When receiving the written request from the Ministry of Finance, the applicant must complete the dossier in accordance with the request and send it back to the Ministry of Finance.
After 10 working days from the day on which the supplemented dossier is received, if the Ministry of Finance does not make any written request for additional supplementation, the Ministry of Finance shall consider issuing, reissuing, or amending the Certificate of eligibility for providing audit services within the time limit in the Law on Independent audit.
- Where the applicant does not correct supplement the dossier in accordance with the request, the Ministry of Finance shall request the applicant to complete the dossier
What are the cases of re-issuance of the Certificate of eligibility for providing audit services in Vietnam?
Pursuant to Clause 1, Article 24 of the Law on Independent Auditing 2011 has the following content:
Re-granting, modification of Certificates of sufficient conditions to carry on business of audit services
1. Certificates of sufficient conditions to carry on business of audit services shall be re-granted or modified in the following cases:
a) Having the change of contents of certificate of sufficient conditions to carry on business of audit services;
b) Certificate of sufficient conditions to carry on business of audit services is lost or damaged;
c) Division, separation, merger, consolidation, or transformation of ownership form.
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Reference to Clause 1, Article 10 of Circular 203/2012/TT-BTC is as follows:
Reissuing the Certificate of eligibility for providing audit services
1. An audit firm issued with the Certificate of eligibility for providing audit services shall apply for its reissuance in the following cases:
a) The Certificate of eligibility for providing audit services is lost of damaged;
b) The firm is divided, split, merged, amalgamated, or the form of ownership is converted.
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Accordingly, an audit firm issued with the Certificate of eligibility for providing audit services shall apply for its reissuance in the following cases:
- The Certificate of eligibility for providing audit services is lost of damaged;
- The firm is divided, split, merged, amalgamated, or the form of ownership is converted.
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