Decree No. 133/2005/ND-CP On Amending and Supplementing Certain Provisions of Decree No. 105/2004/ND-CP dated March 30, 2004 on Independent Auditing 133/2005/NĐ-CP

✦ 智能摘要

Decree No. 133/2005/ND-CP amends and supplements certain provisions of Decree No. 105/2004/ND-CP on independent auditing. Specifically, it stipulates that auditing enterprises can be established under various legal forms and sets a transition period for state-owned auditing enterprises. The Ministry of Finance is responsible for managing this activity.

适用范围

Independent auditing enterprises, state-owned auditing enterprises, and auditing joint-stock companies established before Decree No. 105/2004/ND-CP.

要点

Auditing enterprises → may be established under the following forms: limited liability company, partnership, private enterprise, and foreign-invested enterprise in accordance with the Law on Investment in Vietnam. These forms must be disclosed during transactions.
State-owned auditing enterprises, joint-stock auditing companies → are permitted to convert to one of the business forms specified within three years from the date Decree No. 105/2004/ND-CP takes effect.
The Ministry of Finance → is responsible for state management of independent auditing activities; providing detailed guidance on standards and conditions for establishing new limited liability auditing companies and auditing partnerships.

🌐 本文件的社会影响

Positive impact: Auditing enterprises have more legal form options, facilitating business operations. The transition period for state-owned auditing enterprises helps them adapt to new regulations.
Negative impact: It may increase costs and effort for enterprises required to undergo the conversion process.

❓ 常见问题

What forms can auditing enterprises be established under?

According to the Decree, auditing enterprises can be established under the following forms: limited liability company, partnership, private enterprise, and foreign-invested enterprise in accordance with the Law on Investment in Vietnam.

What is the conversion period for state-owned auditing enterprises?

State-owned auditing enterprises and joint-stock auditing companies established before Decree No. 105/2004/ND-CP have a three-year period from the date this Decree takes effect to convert to one of the specified business forms.

What responsibilities does the Ministry of Finance have?

The Ministry of Finance is responsible for state management of independent auditing activities; providing detailed guidance on standards and conditions for establishing new limited liability auditing companies and auditing partnerships.

When does this Decree take effect?

This Decree takes effect fifteen days after its publication in the Official Gazette.

How are previous conflicting regulations abolished?

Previous regulations conflicting with this Decree are abolished immediately upon the Decree's effective date.

全文

THE GOVERNMENT	SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness
Number: 133/2005/NĐ-CP	Hanoi, October 31, 2005

DECREE

Amending and supplementing certain Articles of Decree No. 105/2004/NĐ-CP dated March 30, 2004 on Independent Auditing

THE GOVERNMENT

Pursuant to the Government Organization Law dated December 25, 2001;

Pursuant to Article 34 of the Accounting Law promulgated on June 17, 2003;

At the proposal of the Minister of Finance,

DECREE:

Article 1. Amend and supplement Article 20 and Article 34 of Decree No. 105/2004/NĐ-CP dated March 30, 2004 of the Government on independent auditing as follows:

1. Clause 1 and Clause 3 of Article 20 shall be amended and supplemented as follows:

"1. An auditing enterprise shall be established and operate in accordance with the provisions of the law under the following forms: limited liability company, partnership, private enterprise, and foreign invested enterprises in Vietnam. The auditing enterprise must disclose this form during transactions and operations."

"3. State-owned auditing enterprises and joint-stock auditing companies that were established and operated in accordance with the business law before the effective date of Decree No. 105/2004/NĐ-CP are permitted to convert to one of the forms of enterprises specified in Clause 1 of this Article within three years from the effective date of Decree No. 105/2004/NĐ-CP."

2. Clause 2 of Article 34 shall be amended and supplemented as follows:

"The Ministry of Finance shall be responsible to the Government for performing state management functions over independent auditing activities; guiding specific standards and conditions for establishing new limited liability auditing companies and auditing partnerships in accordance with the provisions of Clause 1 of Article 1 of this Decree."

Article 2. Effectiveness

This Decree shall take effect fifteen days after its publication in the Official Gazette.

All previous regulations contrary to this Decree are hereby abolished.

Article 3. Responsibility for Implementation

The Ministers, Heads of ministerial-level agencies, Heads of government agencies, Chairpersons of People's Committees of provinces and centrally governed cities are responsible for implementing this Decree./.

PRIME MINISTER
PRIME MINISTER

Phan Van Khai

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