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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