Sanction of acts violating provisions on dossier of registration for audit practice of auditors

Article 25. Sanction of acts violating provisions on dossier of registration for audit practice of auditors

dich-vu-thanh-lap-cong-ty-nuoc-ngoai1. A warning shall be imposed for individuals conducting one of the following violations:

a) Making untrue statements in dossier so as to be eligible for grant of certificate of audit practice registration;

b) Forging, making false statements about diplomas, certificates in dossier so as to be eligible for grant of certificate of audit practice registration;

c) Certifying dishonestly documents in dossier so as to be eligible for grant of certificate of audit practice registration.

2. A warning shall be imposed for organizations conducting act of certifying dishonestly information, documents in dossier so as to be eligible for grant of certificate of audit practice registration.

3. Remedial measures: Forcible destruction of all documents already declared and certified dishonestly, forged, falsified.

Article 26. Sanction of acts violating provisions on management and use of certificates of audit practice registration

1. A warning shall be imposed for organizations, individuals who fail to return certificates of audit practice registration to the Ministry of Finance in accordance with regulation.

2. A fine of between VND 10,000,000 and 20,000,000 shall be imposed for individuals using certificates of audit practice registration which had been invalidated so as to perform the professional operations of accounting and independent audit.

3. A fine of between VND 20,000,000 and 30,000,000 shall be imposed for auditors who let organizations or individuals other than their units where they are working, renting, borrowing or using their certificates of audit practice registration so as to perform the professional operations of accounting and independent audit.

4. A fine of between VND 40,000,000 and 50,000,000 shall be imposed for organizations conducting one of the following violations:

a) Forging, erasing, modifying certificates of audit practice registration;

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b) Using certificates of audit practice registration which had been invalidated so as to perform the professional operations of accounting and independent audit.

5. Deprive of right to use of certificates of eligibility for providing audit service for a period of between 12 months and 24 months, for audit organizations which hired, borrowed, or used certificates of audit practice registration of auditors who are not working in their units to perform the professional operations of accounting and independent audit.

6. Remedial measures:

a) Forcible remittance of illicit earnings from the commission of administrative violations specified in Clause 2, Clause 3, Clause 4 of this Article;

b) Forcible destruction of forged certificates of audit practice registration, for organizations conducting violation specified in point a Clause 4 of this Article.