How will violations against regulations on audit documents be penalized?

Pursuant to Article 50, violations against regulations on audit documents shall be penalized as follows:

1. A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for failure to document an audit.

2. Additional penalties:

a) The audit practitioner committing the violation mentioned in Clause 1 of this Article shall have his/her certificate of audit practice registration suspended for 3-6 months from the day the decision on penalty imposition comes into effect;

The auditing firm committing the violation mentioned in Clause 1 of this Article shall have its certificate of eligibility to provide audit services suspended for 6-12 months from the day the decision on penalty imposition comes into effect.

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.