Sanction of acts violating provisions on obligations in notice and report of the professional-practicing auditors

Article 52. Sanction of acts violating provisions on obligations in notice and report of the professional-practicing auditors

Dịch vụ kế toán

Dịch vụ kế toán

1. A warning shall be imposed for the professional-practicing auditors performing notices or periodical or irregular reports to the Ministry of Finance in time later than the prescribed time limit when:

a) No longer working in audit enterprises, branches of foreign audit enterprises in Vietnam as stated in certificate of registration for audit practice;

b) The full-time labor contract at audit enterprises, branches of foreign audit enterprises in Vietnam is expired or terminated or has changes which result not to ensure for it still be a full-time labor contract according to regulations;

c) Labor permits in Vietnam of the foreign professional-practicing auditors are expired or invalid;

d) Participating with personal status to do as Chief accountant (or person in charge of accounting), the internal accounting, audit officers, or other positions at units, organizations other than audit organizations.

2. A fine of between VND 5,000,000 and 10,000,000 shall be imposed for the professional-practicing auditors failing to notify or notify later than over 15 days in comparison with regulation when:

a) No longer working in audit enterprises, branches of foreign audit enterprises in Vietnam as stated in certificate of registration for audit practice;

b) The full-time labor contract at audit enterprises, branches of foreign audit enterprises in Vietnam is expired or terminated or has changes which result not to ensure for it still be a full-time labor contract according to regulations;

c) Labor permits in Vietnam of the foreign professional-practicing auditors are expired or invalid;

d) Participating to do as Chief accountant (or person in charge of accounting), the internal accounting, audit officers, or other positions at units, organizations other than audit organizations.

SECTION 12. ACTS VIOLATING PROVISIONS ON QUALITY CONTROL OF AUDIT SERVICE

Article 53. Sanction of acts violating provisions on quality control of audit service of audit organizations

A fine of between VND 20,000,000 and 30,000,000 shall be imposed for audit organizations conducting one of the following violations:

1. Failing to formulate the system of service quality control for audit service, control service of financial statements, financial information and other guarantee services.

2. Failing to formulate policies and procedures for quality control over each audit.

dich-vu-thanh-lap-cong-ty-nuoc-ngoai3. Failing to control the service quality for audit service, control service of financial statements, financial information and other guarantee services.

4. Failing to perform policies and procedures for quality control over each audit.

5. Failing to supply or supply insufficiently, untimely information, documents at the request of competent agencies and organizations in the course of audit quality control.

6. Supplying the inaccuracy, untruthful information, documents to the competent agencies and organizations in the course of audit quality control.

7. Failing to make explanations, cooperate with the competent agencies and organizations in the course of audit quality control.