Chương V Nghị định 87/2015/NĐ-CP: Quy định về công khai thông tin tài chính doanh nghiệp nhà nước

Chapter V

PROVISIONS ON DISCLOSURE OF FINANCIAL INFORMATION OF STATE ENTERPRISES

Section 1. General provisions on disclosure of financial information

Article 37. Entities required to disclose financial information

1. State enterprises shall disclose financial information in accordance with regulations laid down in Section 2 Chapter V hereof and the Decree on disclosure of operational information of state enterprises.

2. State-invested enterprises shall carry out the financial information disclosure in accordance with laws and enterprise’s charter.

3. The representative agency shall disclose financial information of enterprises in accordance with regulations laid down in Section 3 Chapter V hereof and the Decree on disclosure of operational information of state enterprises.

4. The Ministry of Finance shall disclose financial information of enterprises in accordance with regulations laid down in Section 4 Chapter V hereof and the Decree on disclosure of operational information of state enterprises.

5. Enterprises operating in the field of finance, banking, insurance, lottery, and the Stock Exchange, and the Vietnam Securities Depository, shall disclose their financial information in accordance with specialized laws and regulations of this Decree.

6. State enterprises directly assisting in the field of national defense and security, and state enterprises which combine economic operations with national defense and security operations, shall disclose their financial information under the guidance of the Minister of Public Security and the Minister of National Defense.

Article 38. Financial information disclosure purposes and requirements

1. Purposes of disclosure of financial information

a) Ensure the transparency, fidelity and objectivity of the health state of state enterprises; promptly discover any violation against regulations on the financial management and corporate accounting regulations;

b) Implement rights and responsibilities of state capital owners and employees in supervising, inspecting and implementing democratic regulations in state enterprises; adopt thrift practices to prevent extravagance and corruption and improve effectiveness in production and business operations, state capital conservation and development.

2. Requirements for disclosure of financial information

a) Bases for disclosure of corporate financial information are financial reports, executive reports and financial supervisory reports compiled by enterprises in an annual basis; financial supervisory reports compiled by the representative agency on an annual basis; 

b) Disclosure of financial information must meet requirements for disclosure of financial information under the provisions of the Decree on disclosure of operational information of state enterprises.

Section 2. DISCLOSURE OF FINANCIAL INFORMATION OF STATE ENTERPRISES

Article 39. Contents of financial information subject to the periodic disclosure

1. Enterprises shall carry out disclosure of 6-month and annual financial reports (audited) including:  Balance sheet; income statement; cash flow statement; note on financial statement in accordance with accounting legislation. As for enterprises operating according to the parent – subsidiary company model, upon disclosing annual financial reports (audited), enterprises must carry out the disclosure of annual financial report of parent companies and annual consolidated financial report.

2. Enterprises shall carry out the disclosure of their financial reports along with opinions and recommendations of auditors, the representative agency and the financial institution in relation to reports on financial aspects and status of enterprises.

3. The deadline for disclosure of financial reports of enterprise shall be before August 15 of the reporting year in case of 6-month financial reports and before May 31 of the successive year in case of annual financial reports.

Article 40. Method of periodic disclosure of financial information

1. Financial information shall be periodically posted on websites of enterprises, written reports, other publications of enterprises and disclosed at the conference of public officials, civil servants and public employees working for enterprises. 

2. Enterprises shall send 6-month and annual financial reports which have been audited to the representative agency and the Ministry of Planning and Investment in order to make them known to the public in accordance with laws; send 6-month and annual financial reports which have been audited to the Ministry of Finance in order to supervise the disclosure of financial information of enterprises.

Article 41. Contents of financial information subject to the unusual disclosure

State-invested enterprises shall carry out the unusual disclosure of financial information in accordance with laws on enterprises.

Section 3. DISCLOSURE OF INFORMATION OF THE REPRESENTATIVE AGENCY

Article 42. Contents of information disclosed by the representative agency

1. The representative agency shall regularly disclose information about the list of enterprises established on its own or assigned to be managed under its authority as well as state capital contributed to enterprises on the electronic information portal.

2. The representative agency shall disclose the plan to supervise enterprises established on its own or assigned to be managed under its authority before every January 31 and concurrently send it the Ministry of Finance for the purpose of cooperation in supervision activities.

3. The representative agency shall disclose the decision on assignment of criteria to be evaluated annually to enterprises established on its own or assigned to be managed under its authority before every May 31 and concurrently send it the Ministry of Finance for the purpose of cooperation in supervision activities.

4. The representative agency shall disclose the report on the current state of investment, management and utilization of state capital invested in enterprises before every June 30.

5. The representative agency shall disclose the 6-month and annual financial report of enterprises within five (05) working days of receipt of the financial report of enterprises.

6. The Ministry of Finance shall decide forms and templates of information disclosure as stipulated in Clause 4 of this Article.

Article 43. Method of information disclosure of the representative agency

1. The representative agency shall disclose financial information of state enterprises by employing the method stipulated by the Decree on disclosure of operational information of state enterprises.

2. The representative agency must prepare and send the Ministry of Finance the review report on the disclosure of financial information compiled by the representative agency and enterprises before June 30 of the successive year.

Section 4. THE MINISTRY OF FINANCE'S DISCLOSURE OF FINANCIAL INFORMATION

Article 44. Contents of information disclosed by the Ministry of Finance

1. Disclose the plan for supervision of state capital investment in enterprises before every January 31.

2. Disclose the Government’s report on investment, management and utilization of state capital invested in enterprises not later than 10 days after the Government’s report to the National Assembly.

3. Disclose the report on operating results and enterprise rating not later than October 30 of the successive year. 

4. Disclose the supervisory report on the disclosure of financial information of enterprise and representative agencies not later than October 30 of the successive year.

5. Based on the Prime Minister’s direction, proceed to disclose the result of supervision of state capital investment in enterprises in the previous year.

Article 45. The Ministry of Finance's method of disclosure of financial information

1. The Ministry of Finance shall open a section "Disclosure of financial information of enterprises" on the website of the Ministry of Finance in order to receive and disclose financial information of enterprises. Concurrently, the Ministry of Finance shall set up an official email box in order to receive information that requires to be disclosed from enterprises and the representative agency. 

2. Where the disclosure of financial information fails to meet the deadline due to unexpected events, the Ministry of Finance shall report to the Prime Minister on reasons for temporary cessation of such disclosure and proposed time for resumption of information disclosure. The Ministry of Finance must disclose information immediately after such unexpected events have been resolved or immediately after the permitted period for such temporary cessation expires.