Dismissal and discharge from duty of Controllers

Article 107. Dismissal and discharge from duty of Controllers/ accounting service

accounting-services-in-vietnam21. A controller shall be dismissed when he/she:

a) no longer meets the standards and requirements in Article 103 of this Law;

b) tenders a resignation and the resignation is accepted by the representative agency;

c) is requested by the representative agency or another competent authorities to undertake other tasks;

d) Other cases prescribed by the company’s charter.

2. A controller shall be discharged from duty when he/she:

a) fails to fulfilled the given tasks and duties;

b) fails to perform his/her rights and obligations for 03 consecutive months, except for force majeure events;

c) commits serious violations or repeat violations against Controllers’ duties prescribed in this Law and the company’s charter;

d) Other cases prescribed by the company’s charter.

Article 108. Periodic information provision

1. The company must periodically provide the following information on its website and on the website of the representative agency:

a) Basic information about the company and the company’s charter;

b) Overall targets, specific targets of the annual business plan;

c) Report and summary of the annual financial statement which has been audited by a independent audit organization within 150 days from the end of the fiscal year;

d) Report and summary of the mid-year financial statement which has been audited by a independent audit organization; this information must be provided before July 31 every year;

The information to be provided mentioned in Point c and Point d of this Clause includes financial statements of the parent company and the consolidated financial statement;

dd) Report on implementation of the annual business plans and those of the latest 03 years before the reported year;

e) Reports on fulfillment of public duties given according to plan or bidding (if any) and other social duties;

g) Report on the company’s administration and organizational structure.

2. The report on the company’s administration shall contain the information below:

a) Information about the representative agency, the head and deputy head of the representative agency;

b) Information about the company’s manager, including his/her qualifications, professional experience, managerial positions they held, method of designation, current positions, their salaries, bonuses, method of payment of salaries and other benefits; their related persons and related interests to the company; the manager’s annual self-assessment;

c) Relevant decisions of the representative agency; decisions, Resolutions of the Board of members or the company’s President;

d) Information about the Control Board, Controllers, and their activities;

accounting-services-in-vietnam1dd) Information about Employee Congresses, average quantity of employees every year and on the reporting date; annual average salary and other benefits of an employee;

e) Report on conclusion of inspecting body (if any) and reports of the Control Board, Controllers;

g) Information about related parties of the company, transactions between the company and related parties;

h) Other information prescribed by the company’s charter.

3. Information reported and disclosed must be sufficient, accurate, and timely as prescribed by law.

4. The legal representative or an authorized person shall disclose information. The legal representative is responsible for the sufficiency, accuracy, truthfulness, and systematicness of the information disclosed.

5. Government shall elaborate this Article