Regulations on the preparation of draft audit reports in Vietnam
Whar are regulations on the preparation of draft audit reports in Vietnam? Please help me answer according to the current auditing procedure. Thank you!
Clause 3, Article 18 of the Audit procedures of State Audit issued with Decision 02/2020/QD-KTNN regulating the preparation of draft audit reports:
3. Preparation of draft audit reports
On the basis of results of consolidated audit situations and figures, heads of auditor teams shall prepare draft audit reports.
Audit reports must satisfy general requirements under State audit standard system and comply with forms regulated by State Auditor General. Audit reports usually consist of following basic contents:
a) Information on audited entities according to Section 19 State audit standard 1700 – Formation of audit remarks and audit reports in financial audit (including: Name of entities producing audited financial statements and final accounts; audited financial statements and final accounts; concluding date of accounting period or accounting date of each report in case of series of financial statements, etc.).
b) Overview of audit sessions: Basis of audit reports, audit scope, limitations and basis (including audit criteria); conducted audit affairs.
c) Audit assessment and confirmation: Audit finding results; Audit remarks. In which, for financial audit, present: “Responsibilities of State auditor team”, “Responsibilities of audited entities”, basis for formation of audit remarks before audit remarks according to Section 20 to Section 25 of State audit standard 1700 – Formation of audit remarks and audit reports in financial audit; issues to be emphasized and other issue (if any).
d) Conclusions, propositions and other details (if any).
dd) Explanations and schedules (if any).
e) Contents in form of writing: Signatures, seals, date of signing audit reports shall comply with regulations and law.
Preparation of draft audit reports must consider audit objectives and methods of audit sessions to comply with guidelines for preparation of audit reports specified under State audit standard system accordingly, namely: State audit standard 1700 – Formation of audit remarks and audit reports in financial audit; State audit standard 1705 – Remarks other than unqualified opinions in financial audit reports; State audit standard 1706 – “Issues to be emphasized” and “Other issues” parts in financial audit reports; State audit standard 1710 – Comparison information – Corresponding data and financial statement comparison, responsibilities of State auditors related to other information in financial audit; State audit standard 1800 – Note for financial audit prepared according to framework for preparation and presentation of financial statements for special purposes; State audit standard 1805 – Note for separate financial audit and audit of factors, accounts or specific clauses of financial statements; State audit standard 1600 – Notice when auditing corporate financial statements; Section 88 to Section 111 State audit standard 3000 – Guidelines for operational audit; Section 67 to Section 88 of State audit standard 4000 – Guidelines for compliance audit, Guidelines for audit based on risk assessment and determination of audit materiality in each audit fields of State audit.
Best Regards!
