What are procedures for drafting an audit report in Vietnam?

What are procedures for drafting an audit report in Vietnam?

Based on Article 10 of the Regulation on the Procedures for Drafting, Reviewing, Approving, and Issuing Audit Reports issued together with Decision 01/2022/QD-KTNN (effective from 02/05/2022), the procedures for drafting an audit report in Vietnam are as follows:

1. The head of the audited unit directs the Audit Team Leader to organize the drafting of the audit report according to the following steps:

a) Collecting audit evidence and audit results.

b) Checking, classifying, and summarizing the audit results.

c) Drafting the audit report.

d) Discussing and obtaining opinions from members of the audit team on the draft audit report.

The detailed content of each step is carried out in accordance with the provisions of the State Audit Procedure, guidance on auditing fields relevant to the audit, and the Regulations on the Organization and Operation of the State Audit Team.

2. The Audit Team Leader completes the draft audit report for review by the head of the audited unit according to regulations, while also providing a summary of key findings to the State Auditor General for guidance (at least 7 working days before the review).

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What are regulations on review of the draft Audit Report by the Advisory Department in Vietnam?

Based on Article 12 of this Regulation, the review of the draft Audit Report by the Advisory Department is regulated as follows:

The Synthesis Department, Legal Affairs Department, and Audit Quality Control Department (collectively referred to as the Advisory Department) have the following responsibilities:

1. Synthesis Department:

a) Organize the review of the draft Audit Report based on the following contents: The results of implementing the objectives, significance, content, scope, limitations of the general audit plan; Compliance with the directives of the State Auditor during the audit process (if any); Compliance with general regulations on Audit Reports; Logical correctness and alignment between audit results and assessments, confirmations, conclusions, and recommendations; Accuracy and reasonableness of evaluations, audit conclusions, feasibility of audit recommendations, and other issues (if any).

b) For significant Audit Reports, the Synthesis Department shall advise the State Auditor to establish the State Audit Council to assist in reviewing the draft Audit Report.

2. Legal Affairs Department: Conduct legal reviews of the draft Audit Report regarding the following contents: Legal compliance of evaluations, conclusions, audit recommendations in the draft Audit Report; Citation of legal documents in the conclusions, audit recommendations; Clarifications needed to ensure legal basis for evaluations, conclusions, audit recommendations; Additional conclusions, audit recommendations to ensure compliance with legal provisions.

3. Audit Quality Control Department: Organize control and review of the draft Audit Report regarding the following contents: Compliance with regulations on audit files, forms, procedures; Consistency of the draft Audit Report with approved general audit plan contents and actual audit implementation; Consistency and appropriateness of the draft Audit Report contents; Adequate and appropriate audit evidence with assessments, confirmations, conclusions, recommendations in the draft Audit Report (for directly controlled, surprise audit contents); Compliance with directives, conclusions of authorized levels during the Audit Report preparation process.

4. During the review process, if necessary, the Advisory Department may request the unit leading the audit (in writing) to provide additional information, documents, explanations to facilitate the review of the draft Audit Report.

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