In order to know more about internal audit in Vietnam, we will introduce some new regulations of laws related to setup of representatives and subsidiaries.
On 25th January 2016, No.7 government ordinance, which regulates rules of Commercial Law, is presented.
According to No.7 Ordinance, foreign corporations cannot set up plural representatives or subsidiaries using the same name in the same province or municipality.
The followings are the new regulations about the setup of representatives and subsidiaries.
❶In the case of stipulated activity period that regulated by Business Registration Certificate, the period has to be remained more than one year from the date of application of representatives or subsidiaries. And the new regulation of the standard of setup, which the contents of work have to base on the International Agreement, also is ruled.
❷When foreign corporations apply for permission of setup, it is required to submit lease agreement, memorandum and certification of address. Foreign corporations can take documents to related office directly or apply it online or send the documents to office.
❸The period of judgment has also be reduced than before. The office will check the documents submitted by foreign corporations within three workdays. And if there are some defects of documents, the office will notify foreign corporations. And after the proper documents submitted, the office will notify foreign companies whether it is passed or not within seven workdays. Before this ordinance, the period of judgment is 18 workdays and it has been reduced to 10 days nowadays.
Our services of internal audit in Vietnam:
① Evaluation of conditions of management rules applications
We will provide the service of evaluation of the conditions, which is applied well or not in companies.
② Evaluation of management conditions of system development project
We will provide the service of evaluation that the ways of response for barriers of system are established properly or not which will have impacts on necessary stakeholders.
③ Evaluation of conduct conditions of making process of IT strategy
We will provide the service of evaluation of making process of IT strategy. And the distributions of resources are allocated appropriately or not.
④ Evaluation of management system of information security
We will provide service of evaluation of security management procedure works well or not and security functions are displayed effectively or not.
⑤ Evaluation of efficiency of application control
⑥ Evaluation of completion of data
⑦ Evaluation management conditions of outsourcing and entrust work