What penalties can the People’s Committees of all levels impose on violations against accounting and independent audit regulations?

Pursuant to Article 71, Decree 41/2018/ND-CP, the power of People’s Committees of all levels to impose penalties for administrative violations is stipulated as follows:

1. Chairpersons of commune-level People’s Committees are entitled to:

a) Issue warnings;

b) Impose fines up to VND 5,000,000;

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

2. Chairpersons of district-level People’s Committees 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 eligibility for providing accounting services, or suspension of operations.

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

3. Chairpersons of province-level People’s Committees have 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 on individuals;

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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