On November 14, 2022, the Ministry of Finance promulgatedthe Decision No. 2324/QD-BTC on Approval for auditing firms and practicing auditors to provide audit servicesfor public interest entities in 2023.

Accordingly, Viet Australia Auditing Co., Ltd. was honored to be listed among the 35 auditing firms that satisfy the criteria for eligibility to offer audit services to entities with public interest set forth in Clause 3, Article 4 of Decree 84/2016/ND-CP dated July 1, 2016 of the Government promulgates a Decree on eligibility requirements for practicing auditors and auditing firms accredited to provide audit services for entities with public interest.

Source: The Ministry of Finance published the list of Top 35 Auditing Firms for Public Interest Entities in 2023.

Pursuant to Clause 1, Article 5 of Decree No. 84/2016/ND-CP dated July 1, 2016 of the Government stipulating the eligibility requirements for auditing firms accredited to provide audit services as follows:

a) It obtains a certificate of eligibility for audit services issued by the Ministry of Finance that remains valid;

b) A charter capital or financed capital (for a branch of foreign auditing firm in Vietnam) of at least VND 6 billion is provided and the owner’s equity of at least VND 6 billion is maintained on the balance sheet;

c) At least 10 practicing auditors employed, including Director or General Director, satisfy requirements prescribed in Article 6 of this Decree;

d) It has operated in Vietnam for at least 24 months from the date on which the initial list of practicing auditors is approved by a competent authority or an initial certificate of eligibility for audit services is issued to the submission date of application for registration of audit services provision (hereinafter referred to as application);

dd) At least 200 entities receive audit reports for their annual financial statements issued by the auditing firm from October 1 of the previous year to September 30 of the year in which the application for registration is submitted.

If the auditing firm is approved in the year of submission, it shall also satisfy another requirement that at least 10 public interest entities receive audit reports for their annual financial statements (or examined reports for their financial statements) issued by the auditing firm from October 1 of the previous year to September 30 of the year in which the application for registration is submitted.

e) A quality control system is established in accordance with Vietnam’s Audit Standard;

g) Professional liability insurance has been obtained or a professional-risk reserve fund has been established as prescribed by the Ministry of Finance;

h) It does not fall to any of cases ineligible for consideration and approval prescribed in Article 7 of this Decree;

i) Sufficient application of audit services is submitted on schedule as prescribed in Articles 9 and 10 of this Decree.

Thus, with the above mentioned decision of the Minister of Finance, Viet Australia Auditing Co., Ltd. will continue to have the opportunity to provide audit services to entities with public interests. We always want to help and support our clients, aiming for financial data transparency, minimizing tax risks, and being accompanied and developed on the path to each client's success.

Viet Australia
Viet Australia Auditing Company is an independent auditing organization licensed and established in 2007 in the Socialist Republic of Vietnam.