Dossiers of application for certificate of sufficient conditions to carry on business of audit services

Article 22. Dossiers of application for certificate of sufficient conditions to carry on business of audit services

bookkeeping-vinasc3Dossiers of application for certificate of sufficient conditions to carry on business of audit services include:

1. A written application for certificate of sufficient conditions to carry on business of audit services;

2. A copy of business registration certificate, certificate of enterprise registration certificates or investment certificate;

3. A copy of certificate of registration of practicing audit of the practicing auditors;

4. Full-time labor contracts of practicing auditors;

5. Documents proving the contributed capital for limited liability companies;

6. Other documents provided by the Ministry of Finance.

Article 23. The time limit for granting certificates of sufficient conditions to carry on business of audit services

1. Within thirty days from the date of receiving valid dossiers, the Ministry of Finance issues certificates of sufficient conditions to carry on business of audit services to the auditing firms, branches of foreign auditing firms in Vietnam; in case of refusal, the Ministry of Finance must reply in writing and state clearly the reasons.

2. Where it needs to clarify the issues related to dossier requesting for granting certificates of sufficient conditions to carry on business of audit services, the Ministry of Finance requires auditing firms, branches of foreign auditing firms in Vietnam that request for certificates of sufficient conditions to carry on business of audit services to explain.

Article 24. Re-granting, modification of Certificates of sufficient conditions to carry on business of audit services

1. Certificates of sufficient conditions to carry on business of audit services shall be re-granted or modified in the following cases:

a) Having the change of contents of certificate of sufficient conditions to carry on business of audit services;

b) Certificate of sufficient conditions to carry on business of audit services is lost or damaged;

c) Division, separation, merger, consolidation, or transformation of ownership form.

2. Dossier of application for re-granting, modifying the certificate of sufficient conditions to carry on business of audit services includes:

a) Written request for re-granting, modifying the certificate of sufficient conditions to carry on business of audit services;

b) The original certificate of sufficient conditions to carry on business of audit services which has been granted, except for the case that the original copy is no longer;

c) Other documents related to the re-granting, modification of certificate of sufficient conditions to carry on business of audit services.

3. Within twenty days from the date of receiving valid dossiers, the Ministry of Finance re-grants, modifies the certificate of sufficient conditions to carry on business of audit services; in case of refusal, the Ministry of Finance must reply in writing, and states clearly the reason.

bookkeeping-vinasc1Article 25. The fees for granting, modifying Certificate of sufficient conditions to carry on business of audit services

1. Auditing firms, branches of foreign auditing firms in Vietnam request for granting, re-granting, modifying Certificate of sufficient conditions to carry on business of audit services must pay fees.

2. Minister of Finance shall prescribe the fees for granting, re-granting, modifying the Certificate of sufficient conditions to carry on business of audit services.

Article 26. The changes must be notified to the Ministry of Finance

Within ten days from the date of change in the following contents, the auditing firms, branches of foreign auditing firms in Vietnam must notify in writing to the Ministry of Finance:

1. List of practicing auditors;

2. Failing to ensure one of the conditions prescribed in Article 21 and Article 31 of this Law;

3. Name, location where places enterprise’s head office;

4. Director or general director and legal representative, the rate of contributions of members;

5. Suspension of carrying on business of audit service;

6. Establishment and termination of operations or change of the name and location where locates head office of the branch of carrying on business of audit services;

7. Performance of the splitting, merger, consolidation, transformation, and dissolution.