What penalties can the Finance Inspector impose on administrative violations against accounting and independent audit regulations?

Pursuant to Article 70, Decree 41/2018/ND-CP, the power of the Finance Inspector to impose penalties for administrative violations is stipulated as follows:

1. Finance Inspectors of all levels have the right to issue warnings in the fields of accounting and independent audit.

2. Chief Inspectors of province-level Departments of Finance are entitled to:

a) Issue warnings;

b) Impose fines up to VND 25,000,000;

c) Confiscate evidence of administrative violations whose value does not exceed the fine specified in Point b of this Clause.

d) Impose suspension of certificates of registration for accounting practice, certificates of registration for auditing practice, certificates of eligibility for providing accounting and audit services, or suspension of operations.

dd) Enforce remedial measures specified in Article 5 of this Decree.

3. The Chief Inspector of the Ministry of Finance has the right to impose penalties for administrative violations regulated by this Decree as follows:

a) Issue warnings;

b) Impose fines up to VND 50,000,000;

c) Confiscate evidence of administrative violations;

d) Impose suspension of certificates of registration for accounting practice, certificates of registration for auditing practice, certificates of eligibility for providing accounting and audit services, or suspension of operations.

dd) Enforce remedial measures specified in Article 5 of this Decree.

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