How will violations against regulations on the destruction of audit documents be penalized?

Pursuant to Article 52, Decree 41/2018/ND-CP, violations against regulations on the destruction of audit documents shall be penalized as follows:

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

a) Deciding to destroy audit documents ultra vires;

b) Failure to establish a Destruction council, to apply the destruction method and procedure correctly, to make a list of audit documents to be destroyed, and a report on the destruction of audit documents when destroying these documents at the end of the retention period.

2. A fine ranging from VND 20,000,000 to VND 30,000,000 shall be imposed on the auditing firm for destroying audit documents before the end of the retention period.

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.