Circular 157: Costs for Quality Control of Audit Services

Circular 157: Costs of Quality Control for Auditing Services (illustrative image)

Article 10 of Circular 157/2014/TT-BTC stipulates that the costs of quality control for auditing services are ensured by the state budget according to the specified policies. The contents of the expenses related to the activities of quality control for auditing services include:

- Travel expenses for individuals participating in the Inspection Teams who are officials of the Ministry of Finance and the State Securities Commission are carried out according to the specified policies. Expenses for members of the Inspection Teams who are mobilized from professional auditing organizations, practicing auditors mobilized from auditing firms, and other individuals are paid by the Ministry of Finance (or the State Securities Commission) and applied as specified policies for State officials;- Expenses related to the members of the professional councils advising the Minister of Finance on handling recommendations regarding audit reports and audit quality, and the results of quality control inspections for auditing services;- Other actual and related expenses incurred in the activities of quality control for auditing services, approved by the competent authority according to the specified policies.

The preparation of estimates, compliance, and settlement of expenses for the activities of quality control for auditing services are carried out according to the provisions of the State Budget Law and its guiding documents.

Details can be found at Circular 157/2014/TT-BTC, effective from October 23, 2014.

Ty Na

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