Authority to Issue Internal Audit Regulations

19:16, 10/07/2024

the Government of Vietnam has just promulgated Decree 05/2019/ND-CP on January 22, 2019, specifically stipulating the authorities competent to issue the internal audit regulations.

Accordingly, Decree 05 stipulates that the following agencies have the authority to promulgate Internal Audit Regulations:

- Ministers, Heads of ministerial-level agencies, Heads of agencies attached to the Government of Vietnam with respect to ministries, ministerial-level agencies, agencies attached to the Government of Vietnam;- Chairmen of People's Committees of provinces and centrally-run cities with respect to People's Committees of provinces and centrally-run cities;- Heads of public service providers with respect to public service providers;- Boards of Directors with respect to listed companies;- Boards of Directors with respect to enterprises where the State owns more than 50% of charter capital and which are parent companies operating under the parent-subsidiary model;- Members' Councils, Chairmen of companies with respect to state-owned enterprises which are parent companies operating under the parent-subsidiary model.

See details in Decree 05/2019/ND-CP effective from April 1, 2019.

-Thao Uyen-

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