Vietnam: An audit partnership must have at least 03 employees holding an auditor practicing certificate

20:49, 09/07/2024

Recently, the Ministry of Finance of Vietnam issued Circular 60/2006/TT-BTC on the criteria and conditions for establishment and operation of audit firms in Vietnam.

An auditing partnership must have at least 3 people with certified public accountant certificates, Circular 60/2006/TT-BTC

Vietnam: An audit partnership must have at least 03 employees holding an auditor practicing certificate (Illustrative image)

According to the provisions under Section 1, Part III of Circular 60/2006/TT-BTC, the criteria and conditions for the establishment and operation of audit partnerships in Vietnam are as follows:

- The establishment and operation of audit partnerships must comply with the provisions of Article 20 and Article 23 of Decree 105/2004/ND-CP and Article 1 of Decree 133/2005/ND-CP;

- Audit partnerships have general partners and limited partners. The number of general partners of a partnership must be at least two. General partners must be individuals. Limited partners may be either organizations or individuals.

- General partners must satisfy all the criteria and conditions specified by law and at Point 2, Section III of this Circular.

- At the time of establishment and in the course of operation, an audit partnership must have at least three 03 employees holding an auditor practicing certificate, at least two of whom are general partners, including the director (or general director).

Detailed information can be found in Circular 60/2006/TT-BTC effective July 22, 2006.

Ty Na

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