After being penalized, how can enterprises resolve their misconduct against accounting and independent audit regulations?

To avoid incurring risks, enterprises should be careful in terms of accounting and audit. If violated, penalties shall be imposed and remedial measures are compelled pursuant to Article 5, Decree 41/2018/ND-CP:

Entities who commit administrative violations regulated by this Decree, in addition to incurring penalties specified in Article 4 of this Decree, may also be required to:

1. Add missing contents of accounting records;

2. Destroy forged or falsified accounting records;

3. Make records for economic/financial transactions that have not had those before;

4. Destroy the excess accounting records.

5. Add missing contents of accounting books;

6. Adjust the accounting book to the actual data in case of no accounting record backing up the existing figures or the accounting book’s figures do not match those of the accounting records;

7. Adjust the accounting book to the actual data if the accounting books’ figures lack continuity between consecutive years;

8. Add omitted assets and liabilities belonging or related to the accounting unit to the accounting book;

9. Restore the accounting book;

10. Make and present financial statements which conform to accounting regulations and standards;

11. Submit and disclose the audit statement attached to the financial statement;

12. Rectify false or misleading information;

13. Appoint or hire accountants, chief accountants, and accounting managers who meet all standards and conditions;

14. Return illegal profits earned by administrative violations.

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