What penalties are imposed on violations against regulations on management and use of auditor certificates?

Pursuant to Article 38, Decree 41/2018/ND-CP, violations against regulations on management and use of auditor certificates shall be penalized as follows:

1. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed on the individual who commit one of the following violations:

a) Tampering with the auditor certificate’s contents;

b) Allowing an external entity to rent, borrow and use one’s own auditor certificate for the purpose of registration of audit practice or registration of audit practice at a unit other than that specified in the full-time labor contract.

2. A fine ranging from VND 10.000.000 to VND 20.000.000 shall be imposed on the enterprise that rent, borrow or using a auditor certificate of a person who is not working as a full-time employee, or not working at all for one’s own unit for the purpose of registration of audit practice.

3. A fine ranging from VND 20.000.000 to VND 30.000.000 shall be imposed for forging auditor certificates.

4. Additional penalties:

a) Any of the violations mentioned in Point a, Clause 1 and Clause 3 of this Article shall result in confiscation of evidence;

b) The audit practitioner committing the violation mentioned in Point b, 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.

5. Remedial Measure:

Return illegal profits earned by the violation mentioned in Point b, Clause 1 of this Article.

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