VI This article provides regulations on the contract signing dates for audits, the deadlines for submitting financial statements, and the entities required to have their annual financial statements audited in 2026, as stipulated in the Independent Auditing Law 2011 and Circular 99/2025/TT-BTC. Let’s explore further with Pham Consult!
When is the contract signing date for auditing financial statements applicable in 2026?
The contract for auditing the annual financial statements of organizations and businesses subject to mandatory financial statement audits must be concluded no later than thirty days before the end of the fiscal year.
The legal basis for mandatory audits is stipulated in Clause 2, Article 9 of the Independent Auditing Law 2011, which specifies the following:
Mandatory Audit
- Mandatory audit is the audit of annual financial statements, final project settlement reports, and other financial information of the audited entity as stipulated in Clauses 1 and 2, Article 37 of this Law and other relevant legal provisions.
- The contract for auditing the annual financial statements of organizations and businesses subject to mandatory financial statement audits must be concluded no later than thirty days before the end of the fiscal year.
- Businesses and organizations are required to have their financial statements audited when submitting them to competent state agencies, and when publicly disclosing financial statements, they must include an audit report. If a state agency receives audited financial statements from a business or organization without an attached audit report, it is responsible for notifying the competent state agency for appropriate action in accordance with the law.
What is the deadline for submitting audited annual financial statements for businesses in 2026?
According to Article 25 of Circular 99/2025/TT-BTC, the deadline for submitting financial statements, effective from January 1, 2026, is as follows:
– Businesses must submit their annual financial statements to the competent authority no later than 90 days from the end of the fiscal year.
– The parent company or corporation shall set the deadline for submitting the financial statements of its subsidiaries and affiliated units for consolidation or aggregation in accordance with current legal regulations and the unit’s management requirements.
– For businesses where relevant laws stipulate the submission of financial statements according to different accounting periods (quarterly, semi-annual financial statements, etc.), the deadline for submitting these financial statements shall be in accordance with those relevant laws.
– Which entities are required to have their annual financial statements audited according to the latest regulations of 2026?
Auditing of annual financial statements, final project settlement reports and other financial information of the audited entity as stipulated in Clauses 1 and 2 of Article 37 of the Independent Auditing Law 2011, supplemented by Point a, Clause 4, Article 3 of the Law amending the Law on Securities, the Law on Accounting, the Law on Independent Auditing, the Law on State Budget, the Law on Management and Use of Public Assets, the Law on Tax Management, the Law on Personal Income Tax, the Law on National Reserves, and the Law on Handling Administrative Violations 2024, effective from January 1, 2026 (based on the provisions of Clause 1, Article 9 of the Independent Auditing Law 2011), specifically includes:
(1) Enterprises and organizations whose annual financial statements are required by law to be audited by an auditing firm or a branch of a foreign auditing firm in Vietnam, including:
– Enterprises with foreign investment capital;
– Credit institutions established and operating under the Law on Credit Institutions;
– Financial institutions, insurance businesses, and insurance brokerage businesses.
– Public companies, securities issuers, and securities trading organizations.
– Other large-scale enterprises must have their annual financial statements audited according to government regulations.
(2) Enterprises and organizations must be audited by auditing firms or branches of foreign auditing firms in Vietnam, including:
– State-owned enterprises, except for state-owned enterprises operating in fields subject to state secrets as prescribed by law, must have their annual financial statements audited;
– Enterprises and organizations implementing national key projects and Group A projects using state capital, except for projects in fields subject to state secrets as prescribed by law, must have their final project settlement reports audited;
– Enterprises and organizations with state capital contributions and other projects using state capital as prescribed by the Government must have their annual financial statements or final project settlement reports audited;
– Audit firms and branches of foreign audit firms in Vietnam must have their annual financial statements audited.
