Vietnam: Tasks served as basis for inspection of annual budget statements

According to Circular No. 137/2017/TT-BTC of the Ministry of Finance of Vietnam, 05 tasks served as basis for inspection of annual budget statements are specified as follows:

- Check the list of annual budget statements and the list of financial statements and ask for additional information if such budget statements or financial statements are found unsatisfactory.

- Check revenues and expenditures of the budgetary unit. To be specific:

+ Check the causes for increases and decrease in the fees and charges provided in the statement and other state budget revenues;

+ Check the budget estimate given in the year to ensure total expenditure amount and expenditure on each particular field match those specified in the estimate given by the competent authority;

+ Check the amount of funding received in reality according to the data confirmed by the State Treasury carrying out the transaction;

+ Check the data provided in the expenditure statement and reason out increases and decreases in the expenditure amount compared to the estimate given by the competent authority;

+ Check the budget balance carrier over to the next year including advance balance, estimated balance and bank balance.

- Check the accounting of revenues and expenditures according to the list of state budget entries and fiscal year to ensure data in the bookkeeping matches the one provided in the statement, documents and data confirmed by the State Treasury;

- Check implementation of recommendations given by competent regulatory agencies through inspection, audit or appraisal of the statement;

- Give comments on the annual budget statement according to the inspection result.

View contents of appraisal of annual budget statements at Circular No. 137/2017/TT-BTC of the Ministry of Finance of Vietnam, effective from February 10, 2018.

- Thanh Lam -

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