Headlines 28/01/2019 11:44 SA

Determining three cases where enterprises’ internal audits are compulsory

Hải Hà

The Government has just promulgated the Decree No. 05/2019/ND-CP on internal audits.

The Decree prescribes that the following enterprises have to perform internal audits:

- Listed companies.

- Enterprises with 50% of their charter capital held by the State, which are parent companies operating in a parent - subsidiary business model.  

- State enterprises which are parent companies operating in a parent - subsidiary business model.  

Other enterprises are encouraged to perform internal audits.

Enterprises may hire accredited independent audit bodies to render auditing services.

However, basic internal audit principles defined in Article 5 and 6 in this Decree must be observed.

The Decree No. 05/2019/ND-CP is set to enter into force on April 1, 2019.

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