Decree No. 30/2009/ND-CP on Amending and Supplementing Certain Provisions of Decree No. 105/2004/ND-CP dated March 30, 2004 of the Government on Independent Auditing

DECREE

Amending and supplementing certain articles of the Government Decree No. 105/2004/NĐ-CP dated March 30, 2004 on independent auditing

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THE GOVERNMENT

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

Based on the Accounting Law dated June 17, 2003;

Pursuant to the Enterprise Law dated November 29, 2005;

Considering the proposal of the Minister of Finance,

DECREE:

Article 1. Amending and supplementing certain articles of the Government Decree No. 105/2004/NĐ-CP dated March 30, 2004 on independent auditing (hereinafter referred to as Decree No. 105/2004/NĐ-CP) as follows:

1. Amend Clause 1 of Article 20 of Decree No. 105/2004/NĐ-CP as follows:

"1. Auditing enterprises shall be established and operate in accordance with the provisions of the law in three forms: Limited liability company with two or more members, partnership, and private enterprise."

2. Amend Clause 1 of Article 23 of Decree No. 105/2004/NĐ-CP as follows:

"1. An auditing enterprise may only be established when it has at least three persons holding an Auditor Certificate, including the Director or General Manager. If the Director or General Manager is a member of a limited liability company or partnership, they must own at least 10% of the charter capital of the company. The Director or General Manager of an auditing enterprise must have at least three years of practical experience in auditing after obtaining the Auditor Certificate and may not concurrently manage or direct another enterprise."

3. Amend Clause 3 of Article 23 of Decree No. 105/2004/NĐ-CP as follows:

"3. During operation, an auditing enterprise must ensure that there are at least three practicing auditors who have signed labor contracts working full-time with the enterprise. In case an auditing enterprise fails to meet this condition for six consecutive months, it must cease providing auditing services."

Article 2. Auditing limited liability companies with foreign investment established and operating in accordance with the law on enterprises before the effective date of this Decree are permitted to continue operating under the form of a limited liability company with one member until the expiration date specified in the Investment Certificate (or Investment License).

Article 3. This Decree takes effect 45 days from the date of issuance.

Repeal the Government Decree No. 133/2005/NĐ-CP dated October 31, 2005 on amending and supplementing certain articles of the Government Decree No. 105/2004/NĐ-CP dated March 30, 2004 on independent auditing. All previous regulations contrary to this Decree are hereby repealed. Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of People's Committees of provinces and centrally governed cities are responsible for implementing this Decree.

The Ministers, Heads of ministerial-level agencies, Heads of government-attached agencies, Chairpersons of provincial People's Committees under the central city shall be responsible for implementing this Decree./.