Promulgating sample Regulations on internal audits for corporate use in Vietnam applied from September 01, 2020

Nguyen Trinh

08:18, 01/08/2020

Recently, the Ministry of Finance of Vietnam has issued the Circular No. 66/2020/TT-BTC introducing sample Regulations on internal audits for corporate use.

According to the Circular No. 66/2020/TT-BTC of the Ministry of Finance of Vietnam, internal audit regulations of enterprises must at least include those regulations set forth in Clause 1 of Article 12 in the Decree No. 05/2019/ND-CP of Vietnam’s Government on internal audits, specifically including: objectives, scope of operation, position, duties, powers and responsibilities of an internal audit department in an audited unit, and relationship of that department with others; requirements concerning independence, objectivity, fundamental principles, requirements concerning professional qualification and assurance of internal audit quality and other contents.

Enterprises shall refer to these sample Internal Audit Regulations annexed to Circular No. 66/2020/TT-BTC to develop their own internal audit regulations, ensuring compliance with the provisions of the Government’s Decree No. 05/2019/ND-CP.

View more details at the Circular No. 66/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from September 01, 2020.

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