Forms of Inspection for Banknote Printing Plant Operations

Circular 26 stipulates two methods of inspection:

- Regular inspections: Regular inspections of the Factory are conducted according to the annual inspection and audit plan;- Unexpected inspections: Unexpected inspections of the Factory are conducted when the Factory is found to be in violation of the law, non-compliant with the decisions of the State Bank, or based on the management requirements of the State Bank.

In addition, Circular 26 also stipulates the organization of the inspection team as follows:

- First, issue the inspection decision:

- For regular inspections: Based on the annual inspection and audit plan, the heads of relevant units under the State Bank sign the inspection decision and send it to the Factory no later than 3 working days before the inspection date;- For unexpected inspections: The inspection team is responsible for notifying the Factory of the inspection time and content no later than 1 working day before the inspection date;

- According to the regulations, the inspection decision must include the following basic contents:

- Inspection basis;- Content and scope of the inspection;- Duration of the inspection;- Names, titles, and workplaces of the head and members of the inspection team;

- The duration of an inspection is stipulated in Circular 26 as a maximum of 10 working days from the date of the inspection decision announcement; in cases where the inspection involves multiple contents and complex nature, the inspection period can be extended but not exceeding 15 working days from the date of the inspection decision announcement;

Note that during the inspection, the head of the inspection team will draft a report regarding any legal violations by the Factory or to confirm the collection of information.

See details Circular 26/2016/TT-NHNN effective from October 24, 2016.

-Thao Uyen-

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