Sanction of acts violating provisions on making audit dossiers

Article 38. Sanction of acts violating provisions on making audit dossiers

acconting-services1. Suspension of audit practice for a period of between 06 months and 12 months, from the effective day of decision on sanction, for the professional-practicing auditors who fail to make the audit dossier for an audit.

2. Suspension of business in audit service for a period of between 06 months and 12 months, from the effective day of decision on sanction, for the audit organizations failing to make the audit dossier for an audit.

Article 39. Sanction of acts violating provisions on preservation and archival of audit dossiers

A fine of between VND 5,000,000 and 10,000,000 shall be imposed for audit organizations conducting one of the following violations:

1. Preserving, storing the audit dossiers insufficiently, unsafely, and causing damage, loss to the audit dossiers in the course of using and in time limit of archival.

2. Putting the audit dossiers into archival later than 12 months from the day of issuing the audit report of an audit.

3. Failing to store the audit dossier made of paper or electronic data.

4. Failing to design, implement the policies and procedures to maintain the confidentiality, safety, entire, ability of accessing and restoring of audit dossiers according to regulations on audit standards.

5. Failing to design, implement the policies and procedures on archival of audit dossiers in the minimum duration of 10 years from the day of issuing audit report of an audit according to regulations on audit standards.

Article 40. Sanction of acts violating provisions on destruction of audit dossiers

1. A fine of between VND 10,000,000 and 20,000,000 shall be imposed for audit organizations conducting one of the following violations:

a) Deciding on destruction of audit dossiers improperly with competence;

b) Destroying audit dossiers without setting up a destruction council, without strictly observing the method of destruction and without making destruction minutes according to regulations.

2. A fine of between VND 20,000,000 and VND 30,000,000 shall be imposed for the audit organizations implementing destruction of audit dossiers which are in time limit of archival according to regulation or deliberately damaging to the audit dossiers.

dich-vu-thanh-lap-cong-ty-nuoc-ngoaiSECTION 9. ACTS VIOLATING PROVISIONS ON AUDITING FINANCIAL STATEMENTS OF UNITS WITH PUBLIC BENIFITS

Article 41. Sanction of acts violating provisions on providing audit or control services for units with public interests

1. A fine of between VND 40,000,000 and VND 50,000,000 shall be imposed for units with public interests which select audit organizations providing audit service or control service while those audit organizations have not yet been approved by the Ministry of Finance or been suspended, cancelled the accepted status.

2. Suspension of audit practice for a period of between 06 months and 12 months, from the effective day of decision on sanction, for the professional-practicing auditors who audit, sign on audit reports or result reports on control work for units with public interests when have not yet accepted by the Ministry of Finance or when have been suspended or cancelled the accepted status.

3. Suspension of business in audit service for a period of between 06 months and 12 months, from the effective day of decision on sanction, for the audit organizations which provide audit service or control service for units with public interests when have not yet accepted by the Ministry of Finance or when have been suspended or cancelled the accepted status.

4. Remedial measures: Forcible remittance of illicit earnings from the commission of administrative violations specified in Clause 1, Clause 2, Clause 3 of this Article.