Chapter 2.
AUDITORS AND PRACTICING AUDITORS
Article 14. Standards of auditors
1. Auditors must meet the following standards:
a) Having full civil act capacity;
b) Having good morals, sense of responsibility, integrity, honesty, objectivity;
c) Having degree of university or higher to be of financial, banking, accounting, auditing disciplines or other disciplines as prescribed by the Ministry of Finance;
d) Having certificates of auditors in accordance with regulations the Ministry of Finance.
2. Where person who have foreign certificates recognized by the Ministry of Finance, passing the examinations in Vietnamese on Vietnam law and meeting fully the standards specified in point a and point b clause 1 of this Article shall be recognized as auditors.
Article 15. Registration of practicing audit
1. Person who meets fully the following conditions is registered for audit practice:
a) Being auditor;
b) Having actual working time as auditor for full thirty-six months or more;
c) Participating fully in the programs of updating knowledge.
2. Person who meets fully the conditions specified in clause1 of this Article shall be entitled to register the audit practice and to be granted the certificate of registration of auditing practice in accordance with regulations of the Ministry of Finance.
3. Applicant for certificate of registration of auditing practice must pay the fee as prescribed by law.
4. Certificate of registration of auditing practice is valid only when granted person having the labor contract as full-time for an auditing firm, the branch of foreign auditing firm in Vietnam.
Article 16. Those who are not registered audit practice
1. Officials and public servants.
2. Those who are banned from practicing audit upon valid judgments and decisions of the courts; those who are being prosecuted for penal liability; those who have been convicted one of the crimes on economy, position relating to finance and accounting but not be remitted; those who are subject to administrative measures of education at communes, wards and towns, sending into medical facilities, educational institutions.
3. Persons who have criminal records on economic crimes from serious level or more.
4. Those that violate the law on finance, accounting, auditing and economic management are sanctioned for administrative violations within one year from the date of the sanction.
5. Those who are suspended to practice audit.
Article 17. Rights of practicing auditors
When practicing in the auditing firms, branch of foreign auditing firms in Vietnam, practicing auditors have the following rights:
1. To practice audit in accordance with regulations of this Law;
2. To be independent on professional skill;
3. To request the audited unit to provide adequate and timely necessary information, documents and explain the issues related to the audit contents; to request inventory of assets, debt comparison of the audited unit related to the audit contents; to inspect all records and documents related to economic and financial activities of the audited unit inside and outside of the unit during the course of audit;
4. To inspect and confirm the economic, financial information related to the audited unit inside and outside of the unit during the course of audit.
5. To request the concerned organizations and individuals to provide necessary documents and information related to the contents of the audit through the audited unit.
6. Other rights in accordance with regulations of law.
Article 18. Obligations of practicing auditors
When practicing in the auditing firms, branch of foreign auditing firms in Vietnam, practicing auditors are obliged as follows:
1. To comply with principle of independent audit operation;
2. Not to interfere in the operation of clients, audited units during the course of audit;
3. To refuse the audit for clients, audited units if considering that they does not guarantee the independence, insufficient qualifications, conditions in accordance with regulations of law;
4. To refuse the audit in cases clients or audited units request contrary to professional ethical and requirements for professional skill or contrary to the provisions of law;
5. To participate fully in the program of updating annual knowledge;
6. Constantly improve professional knowledge and professional experience;
7. To audit, review the audit records or to sign audit statements and take responsibility for the audit statement and its audit activities;
8. Periodically and irregularly report its audit activities as required by the competent state agency;
9. To comply with the provisions of this Law and the laws of the home country in case of practicing audit in the foreign countries;
10. To executive the requirements for inspection and quality control of audit services in accordance with regulations of the Ministry of Finance;
11. Other obligations in accordance with regulations of law.
Article 19. The cases that practicing auditors are not allowed to audit
Practicing auditors are not allowed to audit in the following cases:
1. as members, founding shareholders, or purchasing shares or capital contribution in the audited unit;
2. as those who hold managerial, administrative positions, members of the inspection committee or chief accountant of the audited units;
3. as those who hold managerial, administrative positions, members of the inspection committee or chief accountant of the audited units for the audited financial year;
4. within two years from the time of resigning the managerial, administrative positions, members of the inspection committee or chief accountant of the audited units;
5. as those who are doing or have done in the preceding year the work of book keeping, making financial statements or internal audit for the audited units;
6. as those who are doing or have done in the preceding year the service which is different from the services specified in clause 5 of this Article affecting the independence of practicing auditors in accordance with provisions of professional ethical standards of accounting and auditing;
7. with their parents, spouse, child, natural brother, sister who have remarkable direct or indirect financial interests in the audited units in accordance with provisions of professional ethical standards of accounting, auditing or those who hold managerial, administrative positions, members of the inspection committee or chief accountant of the audited units;
8. Other cases in accordance with regulations of law.
Tìm kiếm
Luật Kiểm toán độc lập 2011 (Bản Word)