Decision No. 120/1999/QD-BTC issues and promulgates four Vietnamese auditing standards to enhance the quality of independent audit activities and ensure financial information in the national economy. This document applies to auditing firms and auditors.
适用范围
Auditing firms and auditors operating legally in Vietnam
要点
- Auditing firms and auditors must comply with the four Vietnamese auditing standards as prescribed (Article 1).
- The auditing standards apply to independent audit activities of financial statements, other auditing services for financial information, and related services (Article 2).
- This Decision takes effect fifteen days after the date of issuance (Article 3).
- Auditing firms and auditors must implement Vietnamese auditing standards in their operations (Article 4).
- The Director of the Accounting System Department, the Office Chief of the Ministry of Finance, and related units are responsible for guiding and supervising the implementation of this Decision.
🌐 本文件的社会影响
- Enhance the quality of financial information in the national economy.
- Auditing firms and auditors must adhere to new standards, which may encounter initial difficulties but will improve operational efficiency over time.
- The application of standards helps strengthen state management of independent auditing.
❓ 常见问题
What contents do Vietnamese auditing standards include?
Four standards issued are: Standard No. 200, Standard No. 210, Standard No. 230 and Standard No. 700.
What responsibilities do auditing firms have when implementing the standards?
Must implement the standards in their operations (Article 4).
When does this Decision take effect?
Fifteen days after the date of issuance.
全文
DECISION
Issuing and announcing four Vietnamese Auditing Standards
_______________
THE MINISTER OF FINANCE
Pursuant to the Government Decree No. 15/CP dated March 2, 1993 on the tasks, powers, and responsibilities of management by ministries and ministerial-level agencies;
Pursuant to the Government Decree No. 178/CP dated October 28, 1994 on the tasks, powers, and organizational structure of the Ministry of Finance;
Pursuant to the Government Decree No. 07/CP dated January 29, 1994 promulgating the Independent Auditing Regulations in the national economy;
To meet the requirements for reforming economic and financial management mechanisms, improving the quality of independent auditing in the national economy; inspecting and controlling the quality of independent auditing activities, promoting the healthiness of financial information in the national economy;
At the proposal of the Director of the Accounting System Department, the Ministerial Office Director of the Ministry of Finance.
DECISION:
Article 1: Issuing four (04) Vietnamese Auditing Standards with the following numbers and names:
1. Standard No. 200: Objectives and Fundamental Principles Governing Financial Statement Audits;
2. Standard No. 210: Audit Engagement Agreement;
3. Standard No. 230: Audit Documentation;
4. Standard No. 700: Auditor's Report on Financial Statements.
Article 2: The Vietnamese Auditing Standards issued with this Decision shall apply to independent auditing activities of financial statements. Independent auditing services for other financial information and related services provided by audit firms shall be applied according to the specific provisions of each standard.
Article 3: This Decision takes effect fifteen days from its date of issuance.
Article 4: Audit companies and auditors legally operating in Vietnam are responsible for implementing Vietnamese Auditing Standards in their activities. The Director of the Accounting System Department, the Ministerial Office Director of the Ministry of Finance, and the heads of relevant units under and affiliated with the Ministry of Finance shall be responsible for guiding, inspecting, and enforcing this Decision.
The Director of the Accounting System Department, the Secretary of the Ministry’s Office, and the Heads of units under the jurisdiction and directly under the Ministry of Finance shall be responsible for guiding, inspecting, and implementing this Decision.
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