State Audit of Vietnam issues new audit process from July 13, 2023

What are purposes of issuing audit process of the State Audit of Vietnam?

Pursuant to Article 3 of the State Audit's audit process issued together with the Decision 08/2023/QD-KTNN stipulating the purpose of issuing audit process of the State Audit of Vietnam as follows:

Purpose

1. Create a legal basis and professional framework to organize the work in an audit, activities of the audit team and the State Auditor (SAV); ensure consistency in the organization, implementation and management of audit activities.

2. Serve as the basis for carrying out the inspection, inspection, supervision, audit quality control, audit quality assessment and professional ethics of the SAV.

3. Serve as a basis for developing audit guidelines for each type and each audit field of the State Audit.

4. Create a basis for building a system of forms and forms of audit dossiers, textbooks, training materials and fostering for the ranks of state auditors.

Thus, the purpose of promulgating the State Audit's Auditing Process is to:

- Create a legal basis and professional framework to organize the work in an audit, the activities of the Audit Team and the State Auditor.

- Ensure consistency in the organization, implementation and management of audit activities.

- Serve as the basis for carrying out the inspection, inspection, supervision, audit quality control, audit quality assessment and professional ethics of the SAV.

- Serve as a basis for developing audit guidelines for each type and field of state audit.

- Create a basis for building a system of audit records, textbooks, training documents, fostering the ranks of State Auditors.

State Audit of Vietnam issues new audit process from July 13, 2023

On May 29, 2023, the State Auditor General issued Decision 08/2023/QD-KTNN regulating the audit process of the State Audit.

As prescribed, the State Audit's audit process includes 4 steps:

Step 1: Prepare for the audit;

Step 2: Perform audit;

Step 3: Prepare and send the audit report;

Step 4: Monitor and check the implementation of audit conclusions and recommendations.

Subjects applying the State Audit's audit process include:

- Units directly under the State Audit are assigned the task of only conducting audits, checking, inspecting, supervising and controlling audit quality;

- Delegations of the State Audit;

- Organizations and individuals entrusted or hired to perform audit, State Auditor collaborators, audited units and other agencies, organizations and individuals related to audit activities.

Note: Decision 08/2023/QD-KTNN takes effect from July 13, 2023 and replaces Decision 02/2020/QD-KTNN.

What are requirements for the State Audit Team and its members in Vietnam?

Pursuant to Article 4 of the State Audit's audit process issued together with the Decision 08/2023/QD-KTNN stipulating requirements for the State Audit Team and its members as follows:

- Comply with the Law on State Audit.

- Comply with Law on anti-corruption and improvement of public service ethics to prevent and combat corruption and negativity.

- Comply with the System of State Auditing Standards.

- Comply with Regulations on organization and operation of the State Audit Team; Regulations on quality control of audits and improvement of the quality of audit reports.

- Comply with other provisions of the State Control and relevant legal documents throughout the audit process from the step of developing the audit plan to the implementation of audit conclusions and recommendations.

- Comply with the order and procedures specified in the audit process.

- Organize the audit work according to the general audit plan of the approved audit according to regulations.

- During the audit, the head of the audit team or the audit team leaders must direct the members of the audit team: To record and fully collect specific audit results of each work step into the file. The purpose of audit documentation is to collect sufficient appropriate audit evidence to serve as a basis for audit opinions, confirmations, conclusions and recommendations.

- Apply software to support audit activities and high-tech techniques to improve the quality and efficiency of audit activities and information security according to regulations.

- Periodically summarize audit results, report progress on plan implementation to superiors.

- Complete the work contents in the audit plan according to the requirements on progress and quality.

- The audit team leader, the audit team leader is responsible for directing and guiding the members of the audit team to perform the audit according to the audit process.

- Regularly supervise and inspect the work of the members of the audit team to evaluate the results, review and evaluate audit evidence, learn from experience and decide on the next step.

- Make and archive audit documents and records of the audit shall comply with the provisions of the Law on State Audit.

- System of State Auditing Standards.

- Prescribe the list of audit files, the regime of submission, preservation, exploitation and destruction of audit dossiers, and other relevant laws.

- For audits related to State secrets or with contents related to State secrets, in addition to complying with this Process, they must also comply with the provisions of the law on protection of State secrets.

Note: Decision 08/2023/QD-KTNN takes effect from July 13, 2023.

Best regards!