Updated at 01/07/2022 - 08:36 am
Scope of application
- This Auditing Standard specifies and guides the auditor's responsibility and corporate auditing (hereinafter referred to as an "auditor") when performing auditing financial statements in accordance with Vietnamese auditing standards. This Auditing Standard specifies the overall objectives of the auditor and corporate auditing and direct the content and scope of an audit designed for the auditor to achieve those goals. This Standard also specifies and guides the scope and structure of Vietnamese Auditing Standards, including the requirements of the auditor's responsibility. and corporate auditing in all audits, including the responsibility to comply with auditing standards in Vietnam. In the Vietnamese auditing standards, "auditor" is understood as an "independent auditor".
- Vietnamese Auditing Standards are applicable when the auditor is performing the audit of the financial statements and, if necessary, also apply to the audit of other financial information in the past. The Vietnamese Standards on Auditing do not specify and guide the responsibility of auditors and corporate auditing with respect to the relevant matters specified in the legal documents and other regulations, for example the public offering of securities. Liability in legal documents may differ from those in Vietnamese Standards on Auditing, although the Vietnamese Standards on Auditing are useful to auditors. However, it is the responsibility of the auditor to first comply with relevant laws and regulations
Overall goals of auditors and auditing firms
11 The overall objectives of the auditor and the firm in performing an audit of the financial statements are:
(a) Obtaining reasonable assurance that the financial statements, as a whole, remain material misstatement due to fraud or error, thereby enabling the auditor to express an opinion on whether the financial statements have been prepared in accordance with the applicable financial reporting framework, in all material respects;
(b) Prepare an auditor's report on the financial statements and exchange information in accordance with the Vietnamese Standards on Auditing, in accordance with the auditor's findings.
12 In cases where reasonable assurance cannot be obtained and the auditor's exceptional opinion is insufficient to inform the intended user of the financial statements, VASA requires auditing. Auditors must refuse to express an opinion or withdraw from the audit in accordance with relevant laws and regulations.
Auditing Standard No. 200, effective from January 01, 01, includes the following main contents:
I. General provisions
II. Standard content
III. Instructions for application
Full text view Auditing Standard No. 200