Auditors must meet the following standards:

Article 14. Standards of auditors

bookkeeping-vinasc31. Auditors must meet the following standards:

a) Having full civil act capacity;

b) Having good morals, sense of responsibility, integrity, honesty, objectivity;

c) Having degree of university or higher to be of financial, banking, accounting, auditing disciplines or other disciplines as prescribed by the Ministry of Finance;

d) Having certificates of auditors in accordance with regulations the Ministry of Finance.

2. Where person who have foreign certificates recognized by the Ministry of Finance, passing the examinations in Vietnamese on Vietnam law and meeting fully the standards specified in point a and point b clause 1 of this Article shall be recognized as auditors.

Article 15. Registration of practicing audit

1. Person who meets fully the following conditions is registered for audit practice:

a) Being auditor;

b) Having actual working time as auditor for full thirty-six months or more;

c) Participating fully in the programs of updating knowledge.

2. Person who meets fully the conditions specified in clause1 of this Article shall be entitled to register the audit practice and to be granted the certificate of registration of auditing practice in accordance with regulations of the Ministry of Finance.

3. Applicant for certificate of registration of auditing practice must pay the fee as prescribed by law.

4. Certificate of registration of auditing practice is valid only when granted person having the labor contract as full-time for an auditing firm, the branch of foreign auditing firm in Vietnam.

Article 16. Those who are not registered audit practice

1. Officials and public servants.

2. Those who are banned from practicing audit upon valid judgments and decisions of the courts; those who are being prosecuted for penal liability; those who have been convicted one of the crimes on economy, position relating to finance and accounting but not be remitted; those who are subject to administrative measures of education at communes, wards and towns, sending into medical facilities, educational institutions.

3. Persons who have criminal records on economic crimes from serious level or more.

4. Those that violate the law on finance, accounting, auditing and economic management are sanctioned for administrative violations within one year from the date of the sanction.

5. Those who are suspended to practice audit.

Article 17. Rights of practicing auditors

bookkeeping-vinasc1When practicing in the auditing firms, branch of foreign auditing firms in Vietnam, practicing auditors have the following rights:

1. To practice audit in accordance with regulations of this Law;

2. To be independent on professional skill;

3. To request the audited unit to provide adequate and timely necessary information, documents and explain the issues related to the audit contents; to request inventory of assets, debt comparison of the audited unit related to the audit contents; to inspect all records and documents related to economic and financial activities of the audited unit inside and outside of the unit during the course of audit;

4. To inspect and confirm the economic, financial information related to the audited unit inside and outside of the unit during the course of audit.

5. To request the concerned organizations and individuals to provide necessary documents and information related to the contents of the audit through the audited unit.

6. Other rights in accordance with regulations of law