Headlines 27/09/2019 09:48 SA

Time limits for submission of financial statements of audited entities to take effect

Ms.Thúy Vy

State Auditor General has just promulgated the Decision No. 03/2019/QD-KTNN on responsibilities of audited entities for submission of financial statements and final accounts to the State Audit. The Decision sets out the following regulations:

- Tier-1 budgetary units controlled by the central budget must submit final accounts of budget receipts and expenditures under their authority to the State Audit by October 1 next year.

- Provincial-level People’s Committees must:

+ Submit final accounts of local budget receipts and expenditures to the State Budget by October 1 next year;

+ Submit final accounts of local budget receipts and expenditures to the State Budget no later than 5 working days of receipt of approval from People's Councils;

- Ministry of Finance must submit its final accounts of state budget revenues and expenditures to the State Budget not later than 14 months after end of the budget year.

- State enterprises, parent companies and state-owned incorporations holding voting shares must:

+ By end of the fiscal year, prepare and submit financial statements and final accounts of state budget revenues and expenditures under their management to the State Audit within the 90-day duration from the end date of an accounting year;

+ Unless otherwise prescribed by other regulations on date of preparation and release of financial statements and final accounts of budget revenues and expenditures, send such financial statements and final accounts to the State Audit after the date of preparation and release thereof according to respective regulations.

The Decision No. 03/2019/QD-KTNN will take effect on October 31, 2019.

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE

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