Recently, the State Bank of Vietnam has issued Circular No. 06/2020/TT-NHNN on internal control and internal audit of the State Bank of Vietnam, effective from August 15, 2020.
According to Article 15 of Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam (SBV), 3 requirements for internal audit activities include:
1. Determine scope of audit, perform tasks and exchange audit results without any interference and access audit information and documents without any limitation.
2. Upon carrying out an internal audit, controllers and internal auditors must adopt an objective, fair and unbiased attitude and avoid all conflicts of interest with audited units, and must be proficient and meticulous in work. Controllers and internal auditors have the right and obligation to report issues that may affect their independence and objectivity before and during an internal audit at a unit to a competent person in accordance with the SBV’s Internal audit regulation.
3. Do not deploy controllers and internal auditors to audit:
- activities or units to which they are responsible for carrying out or manage within the last 03 (three) years.
- regulations, processes and procedures which they are mainly responsible for establishing.
- a unit that has their relative who is the head of the unit, the chief accountant (or the head of the accounting department), the head of the internal control department/division or the full-time internal controller.
View detailed contents at Circular No. 06/2020/TT-NHNN of the State Bank of Vietnam, effective from August 15, 2020.
Le Vy
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