Chương 7 Luật Kiểm toán độc lập 2011: Xử lý vi phạm và giải quyết tranh chấp

Chapter 7.

HANDLING OF VIOLATIONS AND SETTLEMENT OF DISPUTES

Article 59. Law violations on independent audit

Law violations on independent audit include:

1. Carrying on business of audit services without the certificate of sufficient conditions for business of audit services or not complying with the contents of the certificate of sufficient conditions for business of audit services;

2. Individuals who sign audit statements without sufficient conditions as the practicing auditors;

3. Violation of regulations on business registration of audit services, audit-practice registration;

4. Violation of regulations on inspection and quality control of audit services of the Ministry of Finance;

5. Violation of regulations for auditing the financial statements of the units with the public interest;

6. Violation of the information confidentiality rules related to audit records, clients and audited units;

7. Performance of prohibited acts provided in Article 13 of this Law;

8. Violation of regulations on the cases which are not entitled to perform audit services specified in Article 19 and Article 30 of this Law;

9. Carrying on business of audit services without sufficient number of practicing auditors in accordance with regulations of this Law; violation of the provisions on legal capital, purchase of professional liability insurance or establishment of occupational risk reserve fund;

10. Due to carelessness leading to errors or distorting the audit results, audit records;

11. Deliberately certifying financial statement with fraud, mistake, or colluding to falsify accounting records, audit records and providing false information and report data;

12. Violation of regulations on the establishment, collection, classification, use, storage, archiving audit records and documents of other relevant services;

13. Untruthful declaration to be issued certificates of audit practice registration and certificates of sufficient conditions for business of audit services;

14. Fraud to be issued certificates of audit practice registration and certificates of sufficient conditions for business of audit services;

15. Forging, erasing, and fixing certificates of audit practice registration and certificates of sufficient conditions for business of audit services.

16. Violation of the principles of independent audit activities;

17. Reporting untruthfully or failing to implement the reporting regime as prescribed;

18. Audited units violating the provisions of the clauses 1, 2, 3 and 4 of Article 39 of this Law.

19. Other acts of violating law on independent audit.

Article 60. Handling of violations of law on independent audit

1. Organizations and individuals violate the provisions in Article 59 of this Law shall be handled according to the following forms:

a) Caution;

b) Fine;

c) Apart from the handling forms specified in point a and point b of this clause, breaching organizations and individuals may be revoked certificate of sufficient conditions for business of audit services, certificates of auditors, certificates of audit practice registration, suspended or banned from operating independent audit.

2. Individuals who violate the provisions of this Law shall, depending on the nature and seriousness of violations, also be prosecuted for criminal liability.

3. Organizations and individuals violate the provisions of this Law, apart from the penalties as specified in clause 1 and clause 2 of this Article may also be posted on the website of the Ministry of Finance or of the professional organizations on audit, if causing damage, they must pay compensation in accordance with the law regulations.

4. The Government specifies the handling of law violations on independent audit.

Article 61. Settlement of disputes on independent audit

1. Disputes over the independent audit are settled as follows:

a) The parties are responsible for self-mediation of the dispute;

b) If the mediation is failed, the disputing parties may bring in lawsuits under the law regulations.

2. The prescription of entering a lawsuit for requirement to settle disputes on independent audit is three years from the date of signing the audit statement.