Vietnam’s regulations on attestation services and direct assurance services

According to the Vietnam’s Framework for assurance service contracts promulgated together with Circular No. 69/2015/TT-BTC of the Ministry of Finance of Vietnam, attestation services and direct assurance services are specified as follows:

When providing authenticated assurance services, a party other than auditors shall evaluate or measure the subject matter by criteria. This party usually presents information about the subject matter in the form of a report. However, in some cases, auditors may present information about the subject matter in the report on assurance services. The conclusion of the auditor who presents information about the subject matter (see paragraph 85 of this Framework) with regard to presence of material misstatements.

When providing direct assurance services, auditors shall directly measure or evaluate the subject matter by certain criteria. Besides, auditors shall apply their skills and techniques to collect adequate evidence for giving a conclusion about the measurement or evaluation of the subject matter. Auditors may collect evidence before, after, or in the process of measurement of evaluation of the subject matter. When providing direct assurance services, the auditor’s conclusion is the result of the measurement of evaluation of the subject matter by certain criteria. In some direct assurance services, the auditor’s conclusion is information or part of information about the subject matter (see Appendix 02 of this Framework).

View more details at the Circular No. 69/2015/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2016.

Ty Na

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