Vietnam: 6 basic responsibilities of the Director of the Internal Audit Department

According to Clause 1 Article 27 of Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam (SBV), from August 15, 2020, 6 basic responsibilities of the Director of the Internal Audit Department include:

1. Organize the implementation of approved audit plans, ensuring the progress, efficiency and quality of each audit; Be responsible to the Governor for the internal audit activity results.

2. Report internal audit results or issues concerning internal audit activities of SBV to the Governor.

3. Organize assessment of risks posed to operations of SBV to develop internal audit plans and implement them in an effective manner; Organize assessment and control of quality of internal audit activities of SBV as prescribed on assurance of quality of internal audit activities.

4. Take specific measures to maintain satisfaction of requirements for internal audit activities set out in this Circular; Strengthen administrative discipline and rules during internal audit activities; Take actions against misconduct, embezzlement and corruption during internal audit activities.

5. Consider and handle complaints and propositions of audited units about internal audit activities; Consider and handle propositions about recording opinions on audit conclusion given by audit delegations’ chiefs and members.

6. Suggest or cooperate with relevant units to provide training and refresher training to controllers, internal controllers and internal auditors so that they can satisfy the prescribed standards.

Moreover, the Director of the Internal Audit Department shall perform other tasks related to internal audit activities at the request of the Governor.

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

Le Vy

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