How will violations against regulations on audit approvals be penalized?

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How will violations against regulations on audit approvals be penalized?

Pursuant to Article 45, Decree 41/2018/ND-CP, violations against regulations on audit approvals shall be penalized as follows:

1. A fine ranging from VND 10,000,000 to VND 20,000,000 shall be imposed for one of the following violations:

a) Carrying out auditing works without independence, sufficient professional skills, and meeting requirements in accordance with regulations of law;

b) Carrying out auditing works when the client and audited unit have requirements that violate the code of ethics, professional requirements, or regulations of law.

2. Remedial Measure:

Return illegal profits earned by violations mentioned in Clause 1 of this Article.

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 concerns, please contact Vinasc’s Customer Care department for timely support.

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