Chapter 4.
THE AUDITED UNITS
Article 37. The audited units
1. Enterprises and organizations whose annual financial statements have to be audited by auditing firms or branches of foreign auditing firms in Vietnam include:
a) Enterprises with foreign investment;
b) Credit institutions established and operating under the Law on Credit Institutions;
c) Financial institutions, insurance enterprises, insurance brokerage firms.
d) Public companies, issuers, and securities trading organizations.
2. Enterprises and organizations that have to be audited by auditing firms or branches of foreign auditing firms in Vietnam include:
a) State-owned enterprises, except for the state-owned enterprises operating in the field of state secrets as prescribed by law, must be audited for the annual financial statements;
b) Enterprises, organizations implementing the national important projects, group-A projects using state funds, except for the projects in the field of state secrets as prescribed by law, must be audited for the settlement report of completed projects;
c) Enterprises and organizations with state contributed capital and the projects funded by other State capital prescribed by the Government, must be audited for the annual financial statements or the settlement report of completed projects;
d) Auditing firms, branches of foreign auditing firms in Vietnam must be audited for the annual financial statements.
3. The audit for financial statements and reports on the settlement of completed projects for enterprises and organizations specified in points a, b and c clause 2 of this Article does not substitute for the audit of the State Auditor.
4. Enterprises and organizations voluntarily audited.
Article 38. Rights of the audited units
1. To select the auditing firm, branch of foreign auditing firms in Vietnam and practicing auditor having enough conditions to practice under provisions of law to conclude the audit contracts, except for otherwise provided for by law.
2. To require the auditing firms, branches of foreign auditing firms in Vietnam to provide information in the registration documents for audit practice and information on practicing auditors and auditing firms, branch of foreign auditing firm in Vietnam to conducting the audits.
3. To refuse to provide information and documents which are not related to the content of the audit.
4. To request replacement of members participating in the audit when having evidence that such member violates the principle of independent audit activity during the audit.
5. To discuss, explain in writing on the issues raised in the draft of audit statement if inappropriate.
6. To complaint the acts of participants in the audit during the audit when having evidence that such act is unlawful.
7. To demand compensation in case of auditing firms, branches of foreign auditing firms in Vietnam, cause damages.
8. Other rights in accordance with the law regulations.
Article 39. Obligations of the audited units
1. To provide fully, accurately, truthfully, timely, objectively the necessary information and documents under the requirements of practicing auditors and auditing firms, branches of foreign auditing firms in Vietnam and take responsibility before the law for the information and documents provided.
2. To implement the requirements of practicing auditors and auditing firms, branches of foreign auditing firms in Vietnam on the collection of audit evidence as required by auditing standards and correction of errors for the audit statement having no exception idea for the contents which are not allowed to except as stipulated in clause 2 and clause 3 of Article 48 of this Law. In case of not conducting the correction of errors upon the opinion of the auditing firms, branches of foreign auditing firms in Vietnam, the audited unit must explain in writing as required by the competent state agency, representatives of the owners of audited units.
3. To coordinate, create conditions for the practicing auditors to perform the audits.
4. Not to have acts of restriction of the scope of issues need to be audited.
5. To consider the proposal of auditing firm, branch of foreign auditing firm in Vietnam on the existing, errors in financial statements and in the compliance with the law to remedy promptly.
6. To notify promptly and fully the law violations and breach of audit contract in the audit activity of practicing auditors and auditing firms, branches of foreign auditing firms in Vietnam to the competent state agencies.
7. To pay fees for audit services under agreements stated in the contract.
8. Where concluding the audit contract with an auditing firm, branch of foreign auditing firm in Vietnam for three consecutive years or more, it shall require auditing firm, branch of foreign auditing firm in Vietnam to change the practicing auditors who sign the audit statement.
9. Other obligations in accordance with the law regulations.
Tìm kiếm
Luật Kiểm toán độc lập 2011 (Bản Word)