New regulations on independent audit for credit institutions that are cooperatives

The Governor of the State Bank of Vietnam (SBV) has signed and issued Circular No. 42/2025/TT-NHNN regulating independent audits of credit institutions that are cooperatives. The Circular consists of 3 chapters and 18 articles, specifically regulating the scope of audits, audit contents, standards for auditors, responsibilities of related parties and implementation provisions.

According to the Circular, Chapter I on General Provisions includes 5 articles, clearly stating the scope of regulation, applicable subjects, interpretation of terms, scope of audit and regulations on audit encouragement.

Chapter II consists of 11 articles, stipulating key contents such as: time for selecting an independent auditing organization; selection authority; audit content; audit opinion; audit results; requirements for independent auditing organizations to conduct audits of people's credit funds and cooperative banks; standards for practicing auditors and representatives of independent auditing organizations; responsibilities of independent auditing organizations, auditors and cooperative credit institutions; responsibilities of units under the State Bank...

Circular 42/2025/TT-NHNN takes effect from January 1, 2026.

Source: https://thoibaonganhang.vn/quy-dinh-moi-ve-kiem-aan-doc-lap-doi-voi-to-chuc-tin-dung-la-hop-tac-xa-173523.html