Vietnam: 3 types of internal audit reports from August 15, 2020

On August 15, 2020, Circular No. 06/2020/TT-NHNN on internal control and internal audit of the State Bank of Vietnam shall take take effect.

3 loại báo cáo kiểm toán nội bộ, Thông tư 06/2020/TT-NHNN

According to Article 24 of Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam (SBV), there are 3 internal audit reports, specifically as follows:

1. Report on an audit: the report is prepared by an audit delegation for each audit or each content of the audit. The audit report shall state key contents of the audit, including objectives, scope and result of the audit.

The report shall be prepared, promulgated and sent in accordance with the process for internal audit of SBV.

2. Annual report on audit results: the report shall contain results given according to each content of the audit or all audit activities carried out in a year. The report shall specify the implementation of the approved audit plan and focus of the audits conducted in a year; deficiencies and violations discovered through the audit; propositions and results of implementation of propositions by the internal auditors; assessment of the internal control system related to audited activities and suggestions on perfecting the internal control system.

The Internal Audit Department shall notify the Governor of the internal audit results in accordance with this Clause before January 30 of the next year.

3. Ad hoc report: if any serious violation or high risk is found resulting in threatening asset and information safety at the audited unit, thereby exerting adverse effects on operation and reputation of SBV or at the request of the SBV’s management board, the Internal Audit Department must promptly report it to the Governor within 48 hours for possible solutions.

View more details at Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam, effective from August 15, 2020.

Le Vy

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