How should auditors prepare application documents for audit practice in order not to be penalized?

Pursuant to Article 39, Decree 41/2018/ND-CP, violations against regulations on application documents for audit practice will be penalized as follows:

1. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed for false confirmation of information and application documents to obtain the certificate of audit practice registration.

2. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed for giving false information in the application documents to obtain the certificate of audit practice registration.

3. A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for forging the application documents, or providing false information thereon, to obtain the certificate of audit practice registration.

4. Additional penalty:

Any of the violations mentioned in Clause 3 of this Article shall result in confiscation of evidence.

As an established company in the field of tax and legal consulting, Vinasc hopes to adequately inform our customers to help them mitigate the risk during operation in Vietnam. Should there be any further concern, please contact Vinasc’s Customer Care department for timely support.