What are the conditions for registration of practicing audit in Vietnam? What are the regulations on the order of registration for audit practice?
What are the conditions for registration of practicing audit in Vietnam?
Pursuant to Article 15 of the 2011 Law on Independent Audit of Vietnam, a number of provisions are annulled by Point dd Clause 2 Article 23 of the 2015 Law on Fees and Charges of Vietnam, as follows:
Registration of practicing audit in Vietnam
1. Person who meets fully the following conditions is registered for audit practice:
a) Being auditor;
b) Having actual working time as auditor for full thirty-six months or more;
c) Participating fully in the programs of updating knowledge.
2. Person who meets fully the conditions specified in clause1 of this Article shall be entitled to register the audit practice and to be granted the certificate of registration of auditing practice in accordance with regulations of the Ministry of Finance.
4. Certificate of registration of auditing practice is valid only when granted person having the labor contract as full-time for an auditing firm, the branch of foreign auditing firm in Vietnam.
Thus, Certificate of registration of auditing practice is valid only when granted person having the labor contract as full-time for an auditing firm, the branch of foreign auditing firm in Vietnam.
What are the conditions for registration of practicing audit in Vietnam? What are the regulations on the order of registration for audit practice?
What are the components of records of registration for practicing audit in Vietnam?
Pursuant to Article 4 of Circular 202/2012/TT-BTC of Vietnam stipulating the records of registration for practicing audit in Vietnam as follows:
- An application for a certificate of registration for practicing audit in the form prescribed in Appendix No.01/DKHN enclosed with Circular 202/2012/TT-BTC of Vietnam.
- A copy of the full time labor contract in auditing enterprise.
- A written confirmation of the actual time of working as an auditor in the form prescribed in Appendix No.04/DKHN issued together with this Circular or the documents evidencing real-time working as an auditor or a written explanation accompanying documents evidencing real-time working as an auditor (except for the cases provided for in Article 16 of Circular 202/2012/TT-BTC of Vietnam).
- The personal information in the form prescribed in Appendix No.05/DKHN issued together with Circular 202/2012/TT-BTC of Vietnam.
- Criminal record issued by the competent authority within a period not exceeding six (06) months prior to the date of filing the registration for audit practice.
- Copy of Certificate of auditor.
- Two color photos 3x4cm taken on a white background in a period not exceeding six (06) months prior to the date of filing the registration for audit practice.
- A copy of the decision to resign or the decision to terminate the labor contract at the working place before working for the auditing enterprise.
- A copy of work permit in Vietnam of foreign auditor except for the Vietnamese labor law’s regulation of not requiring work permit.
- Documents proving time of updating knowledge of auditor in the international professional organization of accounting and auditing for the case counting time of updating knowledge.
What are the regulations on the order of registration for audit practice in Vietnam?
Pursuant to Article 5 of Circular 202/2012/TT-BTC of Vietnam stipulating the order of registration for audit practice in Vietnam as follows:
The order of registration for audit practice in Vietnam
1. Auditors must make 01 set of dossier in accordance with provisions of Article 4 of this Circular and submit to the Ministry of Finance through the auditing enterprise. Degrees and certificates if in a foreign language must be translated in Vietnamese and notarized or certified by the competent authority as prescribed by law. Auditors must take responsibility for the information declared in the registration dossier for audit practice. Auditing enterprise and other organizations, individuals related to the certification of the information in the registration dossier for audit practice of auditors must take joint responsibility for the truthfulness of the information certified.
2. The legal representative of the auditing enterprise shall consider, review dossier to ensure that the auditors must be eligible for registration to practice in their organization and shall sign to certify on the application for registration to practice of each auditor.
3. Auditing enterprises request the Ministry of Finance to issue certificate of registration for audit practice for the auditors registered to practice in their units in the form prescribed in Appendix No.06/DKHN issued together with this Circular and the practice registration dossier of each auditor. Dossier shall be submitted in person or sent by post to the Ministry of Finance.
4. Where it is necessary to clarify the information in the practice registration dossiers, the Ministry of Finance may request the auditors or auditing enterprise to explain or provide documentation (social insurance books, documents) for the inspection, comparison, verification of work history and other information in the registration dossier for audit practice. Where auditors do not supplement explaining documents or explaining documents do not prove truly, sufficiently information in the registration dossier for audit practice, the Ministry of Finance has the right to refuse registration dossier for audit practice. In case of refusal, the Ministry of Finance shall answer in writing, stating clearly the reasons.
5. Within 15 days from the date of receipt of eligible and valid dossier, the Ministry of Finance shall consider and issue registration certificate for audit practice in accordance with provisions. Date of issuance of certificate of audit practice registration shall not be earlier than the effective date of the labor contract of auditor working full time in auditing enterprise.
Thus, auditors must submit 01 set of dossier to the Ministry of Finance through the auditing enterprise.
The legal representative of the auditing enterprise shall consider, review dossier to ensure that the auditors must be eligible for registration to practice in their organization and shall sign to certify on the application for registration to practice of each auditor.
The Ministry of Finance shall consider and issue registration certificate for audit practice within 15 days from the date of receipt of eligible and valid dossier.
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