Regulations issued on independent auditing
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Hanoi Times English
- 15 month(s) ago
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The Hanoitimes - Under regulations issued by the Ministry of Finance on March 13 and taking effect on May 1, enterprises with foreign capital, all credit institutions (including foreign bank branches), all enterprises in the financial sector (including insurers, reinsurers and brokers), and all companies with shares listed on the stock market must have their financial statements audited annually by a licensed auditing company.
The Hanoitimes - Under regulations issued by the Ministry of Finance on March 13 and taking effect on May 1, enterprises with foreign capital, all credit institutions (including foreign bank branches), all enterprises in the financial sector (including insurers, reinsurers and brokers), and all companies with shares listed on the stock market must have their financial statements audited annually by a licensed auditing company.
The audit company can also be a branch of a foreign auditing company operating in Vietnam . All audit companies authorised to conduct these audits must have legal capital of at least VND3 billion (US$143,000), to rise to VND5 billion ($238,000) in 2015.
Audit companies operating in the form of limited liability companies must maintain balance sheet equity of not less than legal capital and must have at least two registered auditors practising in the company.
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