Internal Audit in Vietnam: New Decree Comes into Effect April 1
Foreign companies need to be aware of a new decree on internal audit in Vietnam that goes into effect on April 1. Vietnam Briefing breaks down key aspects of the new decree for foreign investors.
The government issued Decree 05/2019/ND-CP on internal audit in Vietnam on January 22, this year. It will come into effect on April 1.
The new decree will apply to state-owned authorities, public service organizations as well as private listed companies to implement and adopt IA practices.
The move is in line with international best practices, enhancing transparency and effective in corporate governance. This is especially commendable as Vietnam looks to attract greater foreign investment.
This is an exerpt from an article appearing in Vietnam Briefing, a subsidiary of Dezan Shira & Associates. For the latest economic, regulatory and business news from Vietnam, visit vietnam-briefing.com.