Responsibilities and authority of internal audit practitioners in enterprises in Vietnam

According to Article 13 of the sample Regulations issued together with Circular No. 66/2020/TT-BTC of the Ministry of Finance of Vietnam, responsibilities and authority of internal audit practitioners are specified as follows:

1. Responsibilities:

- Carry out internal audit plans that have already been approved;

- Identify information that is sufficient, reliable, proper and useful to accomplish audit objectives;

- Rely on appropriate analyses and assessments in order to give independent and unbiased audit conclusions and results;

- Store related information in order to support audit conclusions and produce audit results;

- Bear responsibility for results of assigned internal audits;

- Ensure information security in accordance with laws;

- Incessantly improve professional competencies and adhere to professional ethics;

- Assume other responsibilities prescribed by laws and internal audit rules of the enterprise.

2. Authority:

- In the process of carrying out internal audits, exercise independent rights to give their opinions, comments, assessments and recommendations about audited matters;

- Request audited department/units to provide materials, documents and information related to audited matters in a timely and sufficient manner;

- Retain and reserve written opinions on audit results within the scope of their assigned tasks;

- Exercise other rights defined under laws and internal audit rules of (enterprise’s name).

Note: 

- Internal audit practitioners shall not have direct operational responsibility or authority for any activity to be audited. Accordingly, internal audit practitioners shall not perform internal controls, build procedures, install systems, prepare documentation or engage in any other activity that would impair their judgments.

- Internal audit practitioners must ultimately express their professional objectivity with respect to the collection, assessment and communication of information about audited activities and processes. Internal audit practitioners shall make the balanced assessment of all relevant circumstances and must not be affected or controlled by personal interests of theirs or any other person's while making their judgements.

View more details at the Circular No. 66/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from September 01, 2020.

Ty Na

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