This Circular stipulates the registration for auditing practice in independent auditing organizations in Vietnam. It includes detailed provisions on requirements for auditors, the registration process, issuance of practice licenses, management and utilization of auditors, as well as penalty measures for violations.
Đối tượng áp dụng
Auditors and independent auditing organizations in Vietnam
Các điểm cốt lõi
- Requirements for auditors regarding professional qualifications, work experience, and auditor certification.
- The registration process includes submitting an application for a practice license and accompanying documents.
- The practice license has a specified term.
- Independent auditing organizations must manage and utilize auditors in accordance with the provisions of the law.
- Penalty measures for violations include revocation of the practice license or suspension of the right to use the practice license.
🌐 Tác động xã hội từ văn bản này
- Ensuring quality and independence in auditing activities in Vietnam.
- Providing a legal basis for managing and supervising the activities of independent auditing organizations.
- Creating a transparent and fair business environment through compliance with auditing regulations.
❓ Câu hỏi thường gặp
Who can register for auditing practice?
Auditors meeting the requirements for professional qualifications and work experience may register for practice in independent auditing organizations in Vietnam.
How is the process of issuing a practice license carried out?
After submitting an application for a practice license along with supporting documents, the Ministry of Finance will review and issue the license if the requirements are met.
What are the penalty measures for violations?
Violations may result in revocation of the practice license or suspension of the right to use the practice license depending on the severity of the violation.
Toàn văn
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 04/1999/TT-BTC |
Hanoi, January 12, 1999 |
CIRCULAR
OF THE MINISTRY OF FINANCE NUMBER 04/1999/TT-BTC DATED JANUARY 12, 1999 GUIDING REGISTRATION FOR PRACTICING AS AN AUDITOR IN INDEPENDENT AUDITING ORGANIZATIONS
Pursuant to Decree No. 178/CP dated October 28, 1994 of the Government on "tasks, powers, and organizational structure of the Ministry of Finance";
Pursuant to Decree No. 07/CP dated January 29, 1994 of the Government on "Regulations on Independent Auditing in the National Economy";
Pursuant to Circular No. 22TC/CĐKT dated March 19, 1994 of the Ministry of Finance on "Guidelines for Implementing Regulations on Independent Auditing in the National Economy, issued together with Decree No. 07/CP dated January 29, 1994 of the Government".
The Ministry of Finance promulgates and guides the registration for practicing auditing of auditors who have the authority to sign audit reports in independent auditing organizations operating in Vietnam, as follows:
I - GENERAL PROVISIONS
1- Auditors practicing auditing in independent auditing organizations operating in Vietnam must register to practice auditing at the Ministry of Finance.
2- Auditors applying to register to practice auditing in independent auditing organizations must meet the auditor standards stipulated in Articles 9, 10, and 12 of the Regulations on Independent Auditing in the National Economy and Points 8 and 9 - Part II of the Circular Guiding Implementation of Regulations on Independent Auditing in the National Economy.
3- Auditors may only be permitted to practice auditing in independent auditing organizations as professional auditors after receiving an Audit Practice License issued by the Ministry of Finance of Vietnam. Professional auditors practicing auditing in independent auditing organizations and auditors having the authority to sign audit reports.
Independent auditing organizations shall not use auditing staff without an Audit Practice License issued by the Ministry of Finance as professional auditors in auditing activities.
4- When performing auditing tasks, auditors must present their Audit Practice License. When signing confirmation of the audit report, auditors must clearly record their full name and audit practice registration number issued by the Ministry of Finance.
5- Auditors must return their Audit Practice License in the following cases: Ceasing to practice auditing (leaving the profession, transferring to other work, etc.), or being deprived of the right to practice auditing due to violation of laws, or violation of professional discipline and ethics.
In necessary cases, when there is sufficient legal basis (related to compliance with the provisions of Point 6 of this Circular), the Ministry of Finance will proactively issue a Notice to Revoke the Audit Practice License, remove the auditor's name from the list of auditors, and notify the auditor and the auditing organization of the revocation of the Audit Practice License for implementation.
6- Auditors who fail to comply with regulations on registering to practice auditing, or practice auditing without an Audit Practice License, independent auditing organizations using auditors without an Audit Practice License will be subject to administrative penalties under the Administrative Violations Handling Ordinance and its implementing guidelines (Decree No. 41-L/CTN dated July 19, 1995 of the President of the Socialist Republic of Vietnam).
7- The Ministry of Finance is the agency managing the list of auditors practicing auditing in independent auditing organizations; implementing issuance and revocation of Audit Practice Licenses; inspecting auditing practices according to the Audit Practice License of auditors; handling violations related to registration and use of Audit Practice Licenses.
II - SPECIFIC PROVISIONS
1- Conditions for Registration and Application for Issuance of an Audit Practice License
Auditors eligible to apply for an Audit Practice License are those who meet the standards specified in the Regulations on Independent Auditing in the National Economy, specifically as follows:
1.1- Standards for Vietnamese auditors:
- Having a clear background, possessing integrity, honesty, familiarity with laws and economic, financial policies, current accounting and statistical systems, no criminal record, no prior offenses, and no disciplinary action in auditing or accounting activities.
- Holding a bachelor's or associate degree in finance or accounting; having worked in financial or accounting positions for five years or more if holding a bachelor's degree, or ten years or more if holding an associate degree.
- Possessing an auditor certificate, or a Certificate of Admission issued by the Ministry of Finance.
- Being employed by an independent auditing organization legally operating in Vietnam.
1.2- Standards for foreign auditors:
- Having been permitted to reside in Vietnam for one year or more.
- Not having been disciplined in auditing or accounting activities in their home country.
- Holding an auditor certificate issued by the Ministry of Finance of Vietnam, or by a foreign accounting or auditing professional organization recognized and approved by the Ministry of Finance of Vietnam.
- Having necessary knowledge about Vietnam's economic, financial, accounting, and auditing laws.
In cases where auditors hold certificates that are not issued by the Ministry of Finance of Vietnam, they must participate in and pass a test organized by the Ministry of Finance of Vietnam on knowledge of Vietnam's economic, financial, accounting, and auditing laws. The language used in the examination is Vietnamese or a commonly used foreign language.
- Being employed by an independent auditing organization legally operating in Vietnam.
1.3- Current state civil servants are not allowed to register to practice auditing in independent auditing organizations.
1.4- Auditors whose Audit Practice Licenses have been revoked (due to violation of laws, or violation of professional discipline and ethics) are not allowed to re-register to practice.
2- Procedures for Registering to Practice Auditing
2.1- Auditors prepare and submit an application for registration to practice auditing to the independent auditing company. The independent auditing company is responsible for compiling, listing, and submitting to the Ministry of Finance (two sets, bound), including:
- One set retained by the Ministry of Finance;
- One set retained by the independent auditing organization managing the auditor's practice.
2.2- Application for Registration to Practice Auditing:
- Application for registration to practice auditing in an independent auditing organization (Form No. 01 - KTV), accompanied by three 4x6 photos taken at the time of submitting the application;
- Auditing certificate (degree):
. Issued by the Ministry of Finance of Vietnam (certified copy), or;
. Issued by foreign accounting and auditing professional organizations (certified copy of the Vietnamese notary public's translation).
2.3- The auditing company must prepare a list of auditors applying for an Auditing Practice License (Form No. 02 - KTV) to be submitted along with the auditor's registration dossier to the Ministry of Finance.
2.4- An auditor applying to register to practice auditing must pay a fee as prescribed by the Ministry of Finance. The registration fee is used for managing the auditing profession activities of auditors: Licenses to practice, management files, correspondence, etc. Revenue and expenditure from the registration fee shall be managed according to current regulations.
3- Issuance and Management of the Auditing Practice License
In the case of issuing an initial Auditing Practice License:
3.1- The Ministry of Finance will accept the registration dossier, review it, and process the issuance of the Auditing Practice License for auditors working at independent auditing organizations, or revoke the Auditing Practice License for those specified in Point 6, Part I of this Circular.
Within thirty days from the date of the knowledge examination (for foreign auditors) or from the date of receiving the complete registration dossier, the Ministry of Finance will notify the results and issue the Auditing Practice License (Form No. 03 - KTV) to the auditor.
3.2- The Auditing Practice License is valid for a period of three years, or for a period consistent with the continuous residence and work time in Vietnam (for foreigners).
In the case of a change in place of employment of the auditor:
3.3- When an auditor with an Auditing Practice License transfers to work at another independent auditing organization, both the transferring and receiving independent auditing organizations must notify the Ministry of Finance in writing within ten days.
- The notification from the transferring independent auditing organization must be accompanied by the personal file of the auditor holding the Auditing Practice License.
- The notification from the receiving independent auditing organization must be accompanied by the decision to hire the auditor or the labor contract.
- The Ministry of Finance will process the transfer of the auditor's file to the new independent auditing organization for continued management.
In the case of reissuing the Auditing Practice License upon expiration:
3.4- Thirty days before the expiration of the auditor's Auditing Practice License, the independent auditing organization managing the auditor must prepare and submit a list of auditors to the Ministry of Finance to apply for a new Auditing Practice License (Form No. 02 - KTV) along with the previously issued license. Within twenty days from the receipt of a complete and valid dossier, the Ministry of Finance will issue a new Auditing Practice License to the auditor.
4- Responsibilities for Using the Auditing Practice License
Auditors who have been granted an Auditing Practice License are responsible for performing their duties and adhering to professional discipline and ethics as stipulated by current regulations.
Independent auditing organizations are responsible for managing and using auditors practicing auditing in accordance with current laws.
5- Revocation of the Auditing Practice License
5.1- Auditors must return the Auditing Practice License in cases specified in Point 6, Part I of this Circular and must perform the following procedures:
- Return the Auditing Practice License to the independent auditing organization for them to process the revocation of the Auditing Practice License.
- The independent auditing organization must notify in writing and submit the auditor's file and Auditing Practice License to the Ministry of Finance.
5.2- If an auditor practicing auditing violates the law or breaches professional discipline and ethics, the independent auditing organization must proactively revoke the auditor's Auditing Practice License and submit it to the Ministry of Finance.
5.3- Upon receiving the notification and dossier on the revocation of the Auditing Practice License from the independent auditing organization, the Ministry of Finance will remove the auditor's name from the list of practicing auditors; send a notice of revocation of the Auditing Practice License to the auditor and the independent auditing organization for implementation (Form No. 04 - KTV).
In cases where auditors violate the law or breach professional discipline and ethics, the Ministry of Finance will implement measures to suspend the right to use the Auditing Practice License (with or without a time limit) pursuant to Article 11, 12, 13, 14, Chapter II - Forms of Administrative Sanctions; Article 37, Chapter IV - Authority to Handle Administrative Violations; Article 45, 46, 47, 48, 50, Chapter VI - Procedures for Imposing Administrative Penalties of the Administrative Violation Handling Decree and its Implementation Guidelines (Decree No. 41-L/CTN dated July 19, 1995 of the President of the Socialist Republic of Vietnam). In serious cases, the dossier will be transferred to the legal authorities for criminal prosecution.
III - IMPLEMENTATION
1- This Circular takes effect fifteen days from the date of signature. Provisions contrary to this Circular are abolished.
2- Auditors and independent auditing organizations must strictly comply with all provisions of this Circular.
3- The Director of the Accounting System Department, the Director of the General Office, and the Director of the Cadre Organization and Training Department of the Ministry of Finance are responsible for guiding, directing, and supervising the implementation of this Circular.
During implementation, if there are difficulties or obstacles, please report to the Ministry of Finance for resolution.
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TRAN VAN TA (Signed) |
(FORM NO. 01-KTV)
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Registration Number for Practice |
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.................................. |
APPLICATION FOR REGISTRATION TO PRACTICE AUDITING IN AN INDEPENDENT AUDITING ORGANIZATION
Respectfully submitted to: Ministry of Finance
My surname, given name (in capital letters)...Male, (Female)...
Date of birth...Place of origin (or Nationality): ...
Place of permanent residence: ...
Professional qualifications:
Graduated from High School...Specialization...Year...
University...Specialization...Year...
Master's Degree...Specialization...Year...
Academic degree...Year of defense...
Academic title...Year conferred...
Language proficiency level:
........................................................................................................................
Auditing Certificate (degree) number...issued on...by...
Working process
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From...to... |
Duties performed |
Place of Work |
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I hereby apply to practice as an auditor in an independent auditing organization in Vietnam and commit to strictly adhere to the regulations for auditors as stipulated in the Independent Auditing Regulation within the National Economy (issued with Decree No. 07/CP dated January 29, 1994 of the Government); Circular No. 22 TC/CĐKT dated March 19, 1994 guiding the independent auditing regulation and Circular No. 04/1999/TT-BTC dated January 12, 1999 of the Ministry of Finance guiding the registration for practicing as an auditor in independent auditing organizations.
Respectfully request the Ministry of Finance to consider and approve.
Date...month...year...
Confirmation from the Audit Firm Applicant
(Name, signature, stamp) (Name, signature)
FORM NO. 02-KTV
Company:...
Address:…
Tel:...
Fax:...
No.:...
LIST OF AUDITORS APPLYING FOR PRACTICE LICENSE
Company...respectfully requests the Ministry of Finance to issue a Practice License for the auditors listed below:
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Serial number |
Full Name |
Year of Birth |
Place of birth or nationality |
Certificate of admission or auditor certificate Admission certificate or auditor certificate |
Duration of application for practice |
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Male |
Female |
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Number |
The Open Source Software Steering Committee operates on a part-time basis. The Open Source Software Steering Committee has a working group assisting the Steering Committee. |
The company commits to manage and utilize registered auditors in accordance with current state regulations. |
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The company undertakes to manage and utilize the auditors granted a Practice License in accordance with the current regulations of the State.
..., day...month... year...
Director of the Company
(Full Name, Signature, Stamp)
*- This list is attached with each individual's file in the list of auditors applying for practice.
- In case an independent auditing firm sends a list of auditors to the Ministry of Finance to apply for a Practice License for auditors for the second time, this form will be used.
(**)- Record the Admission Certificate (if there is no Auditor Certificate - for Vietnamese auditors)
(FORM 03-KTV)
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SOCIALIST REPUBLIC OF VIETNAM |
AUDITING PRACTICE LICENSE
(PROFESSIONAL LICENSE)
Image (4x6) |
Issued to Mr./Mrs.:
Certified for Mrs./Mr.:
Date of birth:...Place of birth, (or Nationality):...
Date of birth:...Nationality:...
Authorized to practice auditing in legitimate independent auditing organizations in Vietnam.
Is authorized to work in auditing in independent legal auditing organizations in Vietnam.
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Registration number in the list of auditors under the Ministry of Finance Registered No... Valid until... Valid until... Signature of Auditor... Signature |
Hanoi, on the…day of…the month of…the year… THE MINISTER OF FINANCE Minister of Finance |
(FORM NO. 04-KTV)
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SOCIALIST REPUBLIC OF VIETNAM |
Hanoi, day... month... year...
NOTICE
REVOCATION OF AUDITING PRACTICE LICENSE
Respectfully submitted to:...
- On the basis of…
Now revoke the Auditing Practice License No:...of auditor...issued by the Ministry of Finance on...day...month...year...
With a term:
Without a term:
Reason:…
......................................................................................................................
DEPUTY MINISTER OF FINANCE
Director of Accounting System Department
Place of Receipt:
- As above:
- Independent Accounting Firm:
- Tax Office, Provincial Tax Bureau;
- File Accounting System Department
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