Regulation on accounting self-appraisal

The Ministry of Finance has issued a regulation on self-checking finance and accounting (accompanied with Decree 67/2004/QD-BTC dated August 13, 2004) in state agencies and state-owned enterprises that use the state budget source.
Under the regulation, state agencies and state-owned enterprises using the state budget source must self-check their finance and accounting issues to evaluate the utilisation of the loans funded by the state budget and complying with the task to prevent waste by their subsidiaries.
Via self-checking their finance and accounting issue, these agencies and SOEs can evaluate the quality of operating, conforming to the financial expenditure management task, managing and using assets by state basic construction and investment businesses.
Thanks to the regulation on self-checking finance and accounting, these agencies and SOEs can detect and deal with mistakes by their subsidiaries.

 

Category: Legal