How will violations against regulations on audit contracts be penalized?

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How will violations against regulations on audit contracts be penalized?

Pursuant to Article 46, Decree 41/2018/ND-CP, violations against regulations on audit contracts shall be penalized as follows:

1. A warning shall be imposed on the auditing firm making audit contracts that do not have sufficient content with its clients or audited units.

2. A fine ranging from VND 5,000,000 to VND 10,000,000 shall be imposed on the auditing firm making audit contracts with their clients or audited unit after auditing.

3. A fine ranging from VND 10,000,000 to VND 20,000,000 shall be imposed on the auditing firm that fails to make audit contracts with their clients or audited unit when auditing.

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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