Lawyer Nguyen Thi Thuy, YouMe Law Firm replied:

Article 19 of the Law on Independent Audit 2011 provides for cases where practicing auditors are not audited as follows:

A practicing auditor may not conduct an audit in the following cases:

1. Being a founding member or shareholder or purchasing shares or contributing capital to the audited entity;

2. Being a person holding a managerial or executive position, a member of the Control Board or the chief accountant of the audited unit;

3. Being a person who used to hold the position of manager, executive, member of the supervisory board, chief accountant of the audited unit for the audited financial years;

4. Within two years from the time of discontinuation of managerial and executive positions, members of the Control Board, chief accountant of the audited unit;

5. Being a person who is performing or has performed in the preceding year the work of making accounting books, making financial statements or performing internal audit for the audited entity;

6. Being a person who is performing or has performed in the preceding year a service other than the services specified in Clause 5 of this Article that affects the independence of auditors practicing according to the provisions of professional ethical standards of accounting and auditing. 

7. Having a father, mother, wife, husband, child, brother, sister, or brother who has a significant direct or indirect financial interest in the audited entity in accordance with the accounting standards of professional ethics accountant, auditor or person holding managerial or executive positions, a member of the Control Board, chief accountant of the audited entity;

8. Other cases as prescribed by law.

Thus, the chief accountant who has been absent from work for more than a year cannot perform audits for the old enterprise. Auditors are not allowed to conduct audits according to the above provisions.

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