Chương I Thông tư 203/2012/TT-BTC: Quy định chung

Chapter I

GENERAL REGULATIONS

Article 1. Scope of regulation

This Circular specifies the order and procedure for the issuance of Certificates of eligibility for providing audit services, the management, and the use of Certificates of eligibility for providing audit services applicable to audit firms and branches in Vietnam of foreign audit firms.

Article 2. Subjects of application

1. Audit firms and branches in Vietnam of foreign audit firms (hereinafter referred to as audit firms).

2. Organizations and individuals involved in the issuance, management, and use of Certificates of eligibility for providing audit services .

Article 3. Holders of Certificates of eligibility for providing audit services

Certificates of eligibility for providing audit services are issued to limited liability companies, partnerships, private enterprises, branches in Vietnam of foreign audit firms that satisfy the conditions in Article 21 of the Law on Independent audit and the regulations in the Government's Decree No.  17/2012/ND-CP dated March 13^th 2012, elaborating and guiding the implementation of the Law on Independent audit (hereinafter referred to as the Decree No. 17/2012/ND-CP). The requirements of capital contribution levels of auditors prescribed in Clause 1 of Article 7 and capital contributions of organizations prescribed in Clause 6 of the Decree No. 17/2012/ND-CP are not applicable to audit LLCs funded by foreign partners as prescribed in Clause 3 Article 62 of the Law on Independent audit.

Article 4. The dossier

1. The copies of papers and qualifications must be authenticated by competent agency as prescribed by law.

2. The application for the Certificate of eligibility for providing audit services must be made in Vietnamese. The papers enclosed with the application in foreign languages must be translated into Vietnamese and authenticated as prescribed by Vietnam’s law.

3. The papers issued by foreign organizations or notarized/authenticated overseas must be consularly legalized as prescribed by Vietnam’s law, unless the consular legalization is exempted by an International Agreement to which Vietnam is a signatory.

4. The applicant for the Certificate of eligibility for providing audit services is responsible for the accuracy of the dossier being sent to the Ministry of Finance.

5. The organizations and individuals that certify the capital are jointly responsible for the accuracy of the capital at the certifying time.