SOME NEW POINTS IN DECREE NO. 90/2025/ND-CP AMENDING AND SUPPLEMENTING DECREE 17/2012/ND-CP GUIDING THE IMPLEMENTATION OF THE LAW ON INDEPENDENT AUDIT

On behalf of the Government, Deputy Prime Minister Ho Duc Phuc has just signed Decree No. 90/2025/ND-CP dated April 14, 2025 amending and supplementing a number of articles of the Government’s Decree No. 17/2012/ND-CP dated March 13, 2012 detailing and guiding the implementation of a number of articles of the Law on Independent Audit. In which, there are some noteworthy contents as follows:

1. Adding “Other large-scale enterprises” to the category of compulsory audit

• Other large-scale enterprises are enterprises that meet at least 2 of the following 3 criteria: Having an average annual number of employees participating in social insurance of over 200 people or more, having a total annual revenue of over VND 300 billion or more, having total assets of over VND 100 billion or more;
• Financial statements for the fiscal year 2025 onwards of “Other large-scale enterprises” will be subject to mandatory audit, these enterprises if they have 2 consecutive years of not satisfying the criteria for determining large-scale enterprises will not have to carry out mandatory audits until they continue to meet the prescribed criteria.

2. Adjustment of the deadline for signing audit reports of auditors

According to the provisions of Article 2, Decree No. 90/2025/ND-CP: Practicing auditors are not allowed to sign audit reports for an audited unit for more than 05 consecutive years (previously 03 consecutive years).