According to Vietnam’s regulations on audit, practicing auditors mean the auditors who have been issued certificates of registration of practicing audit. However, there are cases that practicing auditors are not allowed to audit due to certain reasons.
The Law on Independent Audit 2011 of Vietnam issued on March 29, 2011 includes 64 Articles, 08 chapters. One of the basic contents specified in this Law is the conditions for granting certificate of sufficient conditions to carry on business of audit service.
Independent audit means the auditor practicing a profession, auditing firms, branches of foreign auditing firms in Vietnam inspecting and giving their independent opinions on the financial statements and other audit works under the audit contract.
The Law on Independent Audit 2011 of Vietnam includes 64 Articles, 08 chapters, regulates the principles, conditions, scope, and form of independent audit activities; the rights and obligations of practicing auditors, auditing firms, branches of foreign auditing firms in Vietnam and the units that are audited.
The Law on Independent Audit 2011 of Vietnam was issued on March 29, 2011 and officially effective from January 01, 2012. This Law has specified strictly-banned acts in independent audit.
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