Circular 40/2020/TT-BTC reporting regime in the field of independent audit

CIRCULAR

On instruction for reporting regime in the field of independent audit and accounting as prescribed in the Decree No. 174/2016/ND-CP dated December 30, 2016 of the Government on detailing a number of articles of the Accounting Law and the Decree No. 17/2012/ND-CP dated March 13, 2012 of the Government on detailing and guiding the implementation of a number of articles of the Law on Independent Audit

__________________

Pursuant to the Law on Independent Audit No. 67/2011/QH12 dated March 29, 2011;

Pursuant to the Law on Accounting No. 88/2015/QH13 dated November 20, 2015;

Pursuant to the Government’s Decree No. 17/2012/ND-CP dated March 13, 2012, on detailing and providing instruction on a number of articles of the Law on Independent Audit;

Pursuant to the Government’s Decree No. 174/2016/ND-CP of December 30, 2016, detailing a number of articles of the Law on Accounting;

Pursuant to the Government’s Decree No. 09/2019/ND-CP dated January 24, 2019, prescribing reporting regimes applicable to state administrative agencies;

Pursuant to the Decree No. 87/2017/ND-CP dated July 26, 2017 of the Government on defining functions, tasks, powers, and organizational structure of the Ministry of Finance;

At the request of the Director of the Department of Accounting and Auditing Regulations,

The Minister of Finance hereby promulgates the Circular on instruction for reporting regime in the field of independent audit and accounting as prescribed in the Decree No. 174/2016/ND-CP dated December 30, 2016 of the Government on detailing a number of articles of the Accounting Law and the Decree No. 17/2012/ND-CP dated March 13, 2012 of the Government on detailing and guiding the implementation of a number of articles of the Law on Independent Audit.

Chapter I
GENERAL PROVISIONS

Article 1. Scope of regulation

This Circular provides the instruction for periodic reporting regime on implementation of contract on providing cross border independent accounting services and auditing services arising within a period in Vietnam and the operation of the partnership with the foreign accounting service enterprise, foreign auditing service enterprise on providing cross border independent accounting services and auditing services as prescribed in Article 32, 33 of the Decree No. 174/2016/ND-CP of December 30, 2016, detailing a number of articles of the Law on Accounting and Article 13, Article 14 of the Government’s Decree No. 17/2012/ND-CP dated March 13, 2012, on detailing and providing instruction on a number of articles of the Law on Independent Audit;

Article 2. Subjects of application

1. Vietnam-based accounting service enterprises entering into partnerships with foreign accounting service enterprises to provide cross-border accounting services in Vietnam.

2. Foreign accounting service enterprises providing cross-border accounting services in Vietnam.

3. Vietnam-based auditing service enterprises entering into partnerships with foreign auditing service enterprises to provide cross-border auditing services in Vietnam.

4. Foreign accounting service enterprises providing cross-border auditing services in Vietnam.

5. Organizations and individuals involved in the periodic reporting regime on implementation of contract on providing cross border independent accounting services and auditing services arising within a period in Vietnam and the operation of the partnership with the foreign accounting service enterprise, foreign auditing service enterprise on providing cross border independent accounting services and auditing services.

Chapter II