Chương 6 Luật Kiểm toán độc lập 2011: Kiểm toán báo cáo tài chính của đơn vị có lợi ích công chúng

Chapter 6.

AUDIT OF FINANCIAL STATEMENTS OF UNITS WITH PUBLIC INTEREST

Article 53. Units with the public interest

1. Credit institutions established and operating under the Law on Credit Institutions.

2. Financial institutions, insurance enterprises, insurance brokerage enterprises.

3. Public companies, issuers, securities trading organizations in accordance with provisions of legislation on securities.

4. Other enterprises and organizations related to the interests of the public due to the nature and scale of operation of such unit in accordance with the law regulations

Article 54. Approval of the enterprises entitled to audit the financial statements of the units with public interest

1. Auditing firms, branches of foreign auditing firms in Vietnam audit the financial statements of the units with the public interest must be approved by the competent agencies.

2. Ministry of Finance stipulates the standards, selection conditions, procedures for reviewing, approving, and the cases of suspension or revocation as status of auditing firms, branches of foreign auditing firms in Vietnam and the practicing auditors who are audited the financial statements of the units with the public interest, unless otherwise provided for by law.

Article 55. Disclosure of information of the auditing firms, branches of foreign auditing firms in Vietnam, the practicing auditors who are approved for the audits of financial statements of the units with the public interest

Information on auditing firms and branches of foreign auditing firms in Vietnam, the practicing auditors who are approved for the audits of financial statements of the units with the public interest must be disclosed including:

1. Information on practicing auditors, auditing firms, branches of foreign auditing firms in Vietnam;

2. Information related to quality assurance;

3. Information relating to the inspection, discipline, handling of violations and settlement of disputes and monitoring of the disclosure.

Article 56. Transparency Report

1. Auditing firms, branches of foreign auditing firms in Vietnam that are qualified, sufficient conditions for approval of the audit of financial statements of the units with the public interest must disclose information on their websites on annual transparency reports within ninety days from the date of ending the fiscal year.

2. The transparency reports must be signed by the legal representatives of the auditing firms, branches of foreign auditing firms in Vietnam.

3. The Ministry of Finance shall specify the contents of the transparency report provided in clause 1 of this Article.

Article 57. Responsibilities of the units with the public interest

1. To construct and operate the internal control systems appropriately and effectively.

2. To organize the internal audit in accordance with the law regulations to protect the safety of assets; to assess the quality and the reliability of the information of economy, finance, the observance of laws, regime and policies of the State and provisions of the units.

Article 58. The independence and objectivity

1. Auditing firms, branches of foreign auditing firms in Vietnam are not entitled to arrange practicing auditors to audit for a unit with the public interest in the five consecutive fiscal years.

2. Practicing auditors who were conducted the audit for the units with the public interest are only held managerial, administrative positions, inspection committee members, and chief accountants of the units with the public interest twelve months after the date of ending the audit.