THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 60/2006/TT-BTC
Hanoi, June 28, 2006
 
CIRCULAR
GUIDING THE CRITERIA AND CONDITIONS FOR ESTABLISHMENT AND OPERATION OF AUDIT ENTERPRISES
Pursuant to the November 29, 2005 Enterprise Law;
Pursuant to the Government's Decree No. 77/2003/ND-CP of July 1, 2003, defining the functions, tasks, powers and organizational structure of the Finance Ministry;
Pursuant to the Government's Decree No. 105/2004/ND-CP of March 30, 2004, on independent audit;
Pursuant to the Government's Decree No. 133/2005/ND-CP of October 31, 2005, amending and supplementing a number of articles of the Government's Decree No. 105/2004/ND-CP of March 30, 2004, on independent audit;
The Finance Ministry hereby guides the criteria and conditions for establishment and operation of audit enterprises as follows:
I. GENERAL PROVISIONS
1. Audit enterprises guided in this Circular include enterprises established and operating under the provisions of law in the forms of limited liability company, partnership or private enterprise.
Audit limited liability company means a limited liability company with two or more members providing audit services and other related services.
Audit partnership means a partnership providing audit services and other related services.
Audit private enterprise means a private enterprise providing audit services and other related services.
2. Audit limited liability companies, audit partnerships and audit private enterprises shall be established and operate according to the provisions of enterprise law, Decree No. 105/2004/ND-CP of March 30, 2004, Decree No. 133/2005/ND-CP of October 31, 2005, the Finance Ministry's Circular No. 64/2004/TT-BTC of June 29, 2004, guiding the implementation of a number of articles of Decree No. 105/2004/ND-CP, and the guidance on establishment and operation criteria and conditions in this Circular.
3. Individuals who are not allowed to become members of audit limited liability companies, partners of audit partnerships or owners of audit private enterprises include:
a/ Individuals who are not allowed by law to participate in business activities;
b/ Individuals who are working for other enterprises which provide audit services.
4. Business registration dossiers of audit limited liability companies, audit partnerships and audit private enterprises: Apart from dossiers specified by law, there must be notarized copies of auditor's certificates of directors (or general directors) granted three years before the date of business registration and notarized copies of at least two auditor's certificates of two other persons.
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