Standards for domestic consulting firms to provide consulting services to determine the enterprise value in Vietnam

What are regulations on standards for domestic consulting firms to provide consulting services to determine the enterprise value in Vietnam? Please get back to me.

Standards for domestic consulting firms to provide consulting services to determine the enterprise value in Vietnam (Image from the Internet)

Standards for domestic consulting firms to provide consulting services to determine the enterprise value are specified in Clause 5, Article 12 of Decree 126/2017/ND-CP on conversion from state-owned enterprises and single-member limited liability companies with 100% of charter capital invested by state-owned enterprises into joint-stock companies, specifically as follows:

- It is an auditing company, securities company or assessment enterprise established and operating in Vietnam in accordance with regulations of law;

- It has at least 5-year experience (operating for 60 consecutive months from the day on which the application for provision of consulting services to determine the enterprise value is submitted) of working in the field of assessment, audit, accounting, financial services or enterprise ownership conversion consulting.

During the past 3 years from the day on which the application for provision of consulting services to determine the enterprise value is submitted, the consulting firm shall reach at least 30 service provision contracts in any of the above-mentioned fields;

- It is not undergoing dissolution, bankruptcy, restructuring or put under special control by a competent state authority;

- It has at least 3 appraisers whose appraisal cards are granted by the Ministry of Finance. Each appraiser shall conclude either the definite-term or indefinite-term labor contract mentioned in Point a or Point b Clause 1 Article 22 of the Labor Code No. 10/2012/QH13 with the domestic consulting firm.

If it has fewer than 3 appraisers, the domestic consulting firm shall conclude a joint-venture contract with a qualified domestic assessment firm;

- It meets criteria for the number and qualifications of the personnel;

- It does not incur any administrative penalties or more serious penalties for violations against regulations of law on business lines within 5 consecutive years before the year of registration;

- It has (official) process to determine the enterprise value in accordance with regulations of law on conversion from state-owned enterprises into JSCs and assessment standards.

Above is the consulting content.

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