SOME NEW POINTS OF DECREE NO. 90/2025/ND-CP Amending and supplementing a number of articles of Decree No. 17/2012/ND-CP dated March 13, 2012 of the Government detailing and guiding the implementation of a number of articles of the Law on Independent Audit

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SOME NEW POINTS OF DECREE NO. 90/2025/ND-CP

Amending and supplementing a number of articles of Decree No. 17/2012/ND-CP dated March 13, 2012 of the Government detailing and guiding the implementation of a number of articles of the Law on Independent Audit

 

1/ Criteria for determining “large-scale enterprises”

An enterprise shall be subject to mandatory audit if it meets at least two out of the following three criteria:

  • Average number of employees participating in social insurance in the year exceeds 200 persons. This is calculated by taking the total number of employees participating in social insurance for all months in the preceding year divided by 12.
  • Annual revenue exceeds VND 300 billion. This is determined based on the annual financial statements of the preceding year prepared in accordance with the law on accounting.
  • Total assets exceed VND 100 billion. This is determined based on the total assets at the end of the fiscal year according to the annual financial statements of the preceding year, prepared in accordance with the law on accounting.
  1. Addition of Clause 8 after Clause 7 as follows:

“8. Enterprises falling under the category specified at Point đ, Clause 1 of this Article which, for two consecutive years, fail to meet the criteria for being classified as large-scale enterprises, shall not be subject to mandatory audit until they meet the criteria again as prescribed.”

=> enterprises that fail to satisfy at least two out of the above three criteria for two consecutive years shall not be subject to mandatory audit. Mandatory audit shall only apply again when they satisfy at least two out of the three criteria for two consecutive years.

  1. For the year 2024 specifically:

Enterprises that, according to their financial statements for the 2024 fiscal year, have total revenue, total assets, and average number of employees participating in social insurance in 2024 satisfying at least two out of the three above criteria, shall be subject to mandatory audit for their financial statements for the fiscal year 2025 onwards.