This is an important content mentioned in Circular No. 183/2013/TT-BTC of the Ministry of Finance of Vietnam on independent audit for public interest unit.
The accredited audit organization shall not be considered and approved for performance of audit for the public interest unit in the cases specified in Clause 1 Article 12 of Circular No. 183/2013/TT-BTC of the Ministry of Finance of Vietnam, specifically as follows:
- The audit organization is suspended for its audit service business activities under regulations of law on independent audit;
- The audit organization has failed to remedy its violation on the requirement of the competent state authorities;
- The audit organization has complaints about the result of audit which has been concluded by the competent state authorities that there are certain violations;
- The audit organization whose quality of audit does not meet the requirement under the result of inspection or conclusion of competent agency or organization in the year to be considered;
- The registered auditor in charge of audit dossier has the quality of audit which does not meet the requirements under the result of inspection or conclusion of competent agency or organization in the year to be considered;
- The registered audit organizations and auditors have acts of violation of law related to the practice of audit and have been handled for administrative violation under regulations of law in the year to be considered;
- The registered audit organizations and auditors commit the forgery or perjury in declaration of information in the dossier for registration of audit participation;
- etc.
Thus, the accredited audit organization shall not be considered and approved for performance of audit for the public interest unit in the cases specified in Circular No. 183/2013/TT-BTC of the Ministry of Finance of Vietnam.
View more details at Circular No. 183/2013/TT-BTC of the Ministry of Finance of Vietnam, effective from January 18, 2014.
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