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

Ha Linh

16:10, 29/05/2018

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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- The legal regulations in this article are according to Vietnamese Law;
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