Vietnam: Note 20 mistakes about Signatures that accountants and auditors often make

Vietnam: Note 20 mistakes about Signatures that accountants and auditors often make
Hà Linh

In order to help people avoid mistakes in the working process, LAWNET would like to share 20 signature violations that accountants and auditors often make and the corresponding penalty for each violation, which are specified inDecree No. 41/2018/NĐ-CP of Vietnam’s Government.

No.

Violation

Fine

Legal basis

1

Lack of the legal representative or the approved person's signature on the transparency report

Warning

Point a Clause 1 Article 58

 

2

The accounting book does not have the accounting unit’s name; the accounting book's name and date of creation; lack of signatures of the book's creator, the chief accountant and the accounting unit’s legal representative; page numbers; seal on joining page on the physical accounting book

VND 1.000.000 - VND 2.000.000

Point a Clause 1 Article 9

3

Each accounting period does not have a separate accounting book or the printed books do not have sufficient signatures and seals (except electronic accounting books which are not required to be printed out)

Point c Clause 1 Article 9

4

Failure to make stocktaking reports or the stocktaking report not having sufficient signatures

Point a Clause 1 Article 16

 

5

Red or faded signatures on accounting records

VND 3.000.000 - VND 5.000.000

Point c Clause 1 Article 8

6

Using signature stamps on accounting records

Point d Clause 1 Article 8

7

Expense records do not have signatures on all copies

Point dd Clause 1 Article 8

8

The accounting document’s duplicates do not have sufficient signatures and seals (if any) of relevant entities

Clause 2 Article 13

9

Signing accounting records which have insufficient contents

VND 5.000.000 - VND 10.000.000

Point b Clause 2 Article 8

10

Signing accounting records ultra vires

Point c Clause 2 Article 8

11

Inconsistent signatures or signatures not matching those in the signature registry

Point d Clause 2 Article 8

12

Accounting records having insufficient signatures as specified in those records

Point dd Clause 2 Article 8

13

The financial statement lacks the signature of the creator, chief accountant, accounting manager or the accounting unit's legal representative

Point b Clause 1 Article 11

14

Signing audit statements ultra vires

Point a Clause 1 Article 48

15

Signing audit statements before the financial statements’ audit dates

Point b Clause 1 Article 48

16

Signing audit statements despite the fact that he/she is not an audit practitioner

VND 10.000.000 - VND 20.000.000

Point a Clause 2 Article 48

17

Signing audit statements for more than three consecutive years for an audited unit

Point b Clause 2 Article 48

18

Publishing an audit statement which is signed before the financial statements is

Point b Clause 3 Article 48

19

The audit statement does not have sufficient audit practitioners’ signatures

Point c Clause 3 Article 48

20

Failure to sign the inspection report right after the inspection is complete

VND 20.000.000 - VND 30.000.000

Point h Clause 4 Article 68

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