Vietnamese
The Government has issued Decree No. 90/2025/ND-CP, amending Decree No. 17/2012/ND-CP, which details and guides the implementation of specific provisions of the Law on Independent Audit.
Decree No. 90/2025/ND-CP supplements the criteria for determining audited entities classified as large-scale enterprises and takes effect on April 14, 2025.
(1) Criteria for identifying large-scale enterprises
According to Decree No. 90/2025/ND-CP, an enterprise is deemed large-scale if it satisfies at least two out of the following three criteria:
The average number of employees participating in social insurance is 200 or more per year;
The annual total revenue is VND 300 billion or more;
The total assets are VND 100 billion or more.
Enterprises meeting these criteria fall under the scope of mandatory audit as prescribed in Article 37 of the Law on Independent Audit.
Decree No. 90/2025/ND-CP also provides detailed guidance on how to determine the number of employees participating in social insurance, annual total revenue, and total assets of enterprises.
(2) Detailed guidance on criteria
Number of employees participating in social insurance: This is the total number of employees under the management and employment of the enterprise who participate in social insurance in accordance with the law on social insurance.
Average number of employees participating in social insurance per year: Calculated by totaling the number of employees participating in social insurance for each month of the preceding calendar year, then dividing by 12 months.
Monthly number of employees participating in social insurance: Determined based on the number of employees registered at the end of each month and the social insurance payment documents submitted by the enterprise to the social insurance agency.
Annual total revenue: Determined based on the annual financial statements of the preceding year, prepared in accordance with the law on accounting.
Total assets: Determined at the end of the financial year based on the enterprise’s annual financial statements for the preceding year.
(3) Regulations on audit obligations for enterprises not meeting the criteria
The Decree also stipulates that if a large-scale enterprise fails to meet the above criteria for two consecutive years, it shall no longer be subject to mandatory audit until such time as it once again meets the criteria for being classified as a large-scale enterprise.
This Decree aims to enhance the quality of independent audit practices while ensuring that large-scale enterprises comply with the applicable legal requirements on independent auditing.
