What are regulations on establishment of the Inspection Team in accounting services business operations in Vietnam?
According to the provisions of Article 11 of Circular 09/2021/TT-BTC (Effective from April 1, 2021):
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The Ministry of Finance of Vietnam shall establish an Inspection Team to conduct direct inspections of accounting service business activities.
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The composition of the Inspection Team includes the Head of the Inspection Team and its members. The Head of the Inspection Team must be at a departmental leadership level or higher of the Ministry of Finance. The number of members participating in the Inspection Team depends on the scale of the inspection. Members of the Inspection Team include officials from the Ministry of Finance and professional personnel from the Accounting Professional Organization. Members of the Inspection Team must have at least 3 years of working experience in finance, accounting, and auditing.
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Members of the Inspection Team and the Head of the Inspection Team are not allowed to participate in direct inspections at the inspected unit in the following cases:
a) Being a founding member or contributing capital to the inspected unit;
b) Being a member of the Board of Directors of the inspected unit;
c) Having a significant direct or indirect interest relationship with the inspected entity;
d) Having parents, spouses, children, siblings (either of their own or their spouses’) with a significant direct or indirect interest relationship with the inspected entity or being members of the Board of Directors of the inspected unit;
dd) Having worked at the inspected unit and the period from the time of leaving the unit to the time of the decision establishing the Inspection Team is less than 24 months.
Respectfully!
