Procedures for making, appraising, and issuing the medium-term audit plan in Vietnam

Procedures for making, appraising, and issuing the medium-term audit plan in Vietnam (Internet image)

Regulations on making, appraising and promulgating annual audit plans and medium-term audit plans of the State Audit Office of Vietnam promulgating Decision 02/2023/QD-KTNN (Regulation)

Thus, the procedures for making, appraising, and issuing the medium-term audit plan, includes:

1. Medium-term audit planning requirements in Vietnam

Article 11 of the Regulation stipulates the requirements for making a medium-term audit plan as follows:

On the basis of the principles and bases for making medium-term audit plans specified in Articles 3 and 4 and the criteria for selection of audit units, focal points, and topics specified in Article 5 of the Regulation, the heads of units directly under the State Audit, according to their assigned functions, tasks, and scope, develop a medium-term audit plan over a 3-year period, concretize audit objectives, and determine the focus of activities in each year and throughout the period.

The medium-term audit plan is developed for the 3-year period in the form of an annual rollover together with the annual audit plan and replaces the previous medium-term audit plan.

The medium-term audit plan is oriented for the units under the State Audit to develop their annual audit plan.

2. Procedures for making and issuing the medium-term audit plan in Vietnam

Pursuant to Article 12 of the Regulation, the sequence of steps for making and issuing the medium-term audit plan is as follows:

(1) Orienting and guiding the development of medium-term audit plans.

(2) Organize and finalize the mid-term audit plan.

(3) Issue the medium-term audit plan.

3. Orientation and guidance to develop a medium-term audit plan in Vietnam

Article 13 of the Regulation specifies the following orientations and guidelines for developing medium-term audit plans:

- Before June 15 of each year, the State Auditor General shall issue a document guiding the formulation of the medium-term audit plan, as well as guidance on the formulation of the next year's audit plan, which orients a number of main contents on audit topics in the 3-year period, the topics of annual or periodical audit as prescribed by law;

Some audit contents need the attention of the State Audit.

- Orientation for building a medium-term audit plan is done through the consideration and analysis of the information mentioned in Article 4 of the Regulation.

4. The organization to develop the expected medium-term audit plan in Vietnam

4.1. The proposed medium-term audit plan shall be developed by the heads of units directly under the State Audit of Vietnam

Article 14 stipulates that the heads of the units affiliated with the State Audit shall organize the formulation of the proposed medium-term audit plan.

- On the basis of the information collected, the State Audit Office of Vietnam develops the medium-term audit plan, and the medium-term audit plan as prescribed in Article 4 and criteria for selecting audit units, focal points, projects and topics specified in Article 5 of the Regulation;

Pursuant to documents on 5-year socio-economic development of the country;

Resolutions of the National Assembly, the Government, etc.

Heads of units directly under the State Audit shall organize the formulation of the proposed medium-term audit plan:

- Preliminary analysis and assessment of collected information, risk assessment and determination of audit materiality for the fields, units, focal points and projects within the scope of the entity's audit.

- Develop a list of contents, units, focal points, or key audits in the medium-term audit plan for the 3-year period.
(the level of detail and specificity of this list depends on the urgency, collected information, assessment, and expected time of audit; which can be stated at the general level of the field, program, project, or type of unit or be detailed to each audit as in the annual audit plan).

- The expected medium-term audit plan of the units to be developed together with the annual audit plan and sent to the State Audit Office (via the General Department) before July 20 each year includes:

The proposed notes on the medium-term audit plan and the appendices 07a, Q7b, and 07c/KHKTTH attached to this Regulation.

4.2. The General Department synthesizes and develops the medium-term audit plan of the State Audit Office of Vietnam

According to Article 15 of the Regulation on the Department of General, the State Audit Office of Vietnam develops the State Audit's expected medium-term audit plan as follows:

- On the basis of principles and bases for making medium-term audit plans prescribed in Articles 3 and 4 of the Regulations; and the proposed medium-term audit plan developed by the units, the General Department organizes to summarize and develop the proposed medium-term audit plan of the State Audit, in which orientations are: a number of main contents on audit topics in the 3-year period, topics of annual or periodical audit as prescribed by law; a number of audit contents that need attention in the audit fields of the State Audit Office and the unit in charge of implementing the above contents.

- Gather feedback from industry units on the State Audit's expected mid-term audit plan.

- Summarize the opinions of the units in the industry and complete the expected mid-term audit plan of the State Audit, report to seek opinions from the State Audit's leaders.

- Finalize the SAV's medium-term audit plan and submit it to the State Auditor General for promulgation.

5. Issuance of the medium-term audit plan in Vietnam

Article 16 of the Regulation stipulates the issuance of the medium-term audit plan as follows:

- The medium-term audit plan is signed and promulgated by the State Auditor General at the same time as the first-year audit plan in the period of the State Audit.

- The medium-term audit plan of the State Audit Office of Vietnam, after the State Auditor General's signature and promulgation, shall be made public throughout the industry.

- The SAV's medium-term audit plan is the basis for units to complete their medium-term audit plan and develop their annual audit plan.

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