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1. Penalties for late submission of Financial Statements
Pursuant to Article 12 of Decree 41/2018/ND-CP, the penalty levels for violations regarding the submission and public disclosure of financial statements are prescribed as follows:
Article 12. Penalties for violations against regulations on the submission and public disclosure of financial statements
1. A fine ranging from VND 5,000,000 to VND 10,000,000 shall be imposed for one of the following acts:
a) Submitting the financial statements to the competent state agency less than 03 months late compared to the prescribed deadline;
b) Publicly disclosing the financial statements less than 03 months late compared to the prescribed deadline.
2. A fine ranging from VND 10,000,000 to VND 20,000,000 shall be imposed for one of the following acts:
a) Publicly disclosing financial statements with incomplete content as prescribed;
b) Submitting the financial statements to the competent state agency without an attached audit report in cases where the law requires the financial statements to be audited;
c) Submitting the financial statements to the competent state agency 03 months or more late compared to the prescribed deadline;
d) Publicly disclosing financial statements without an attached audit report in cases where the law requires the financial statements to be audited;
đ) Publicly disclosing financial statements 03 months or more late compared to the prescribed deadline.
3. A fine ranging from VND 20,000,000 to VND 30,000,000 shall be imposed for one of the following acts:
a) Falsifying information or data in the publicly disclosed financial statements;
b) Providing or publishing financial statements for use in Vietnam with inconsistent data within a single accounting period.
4. A fine ranging from VND 40,000,000 to VND 50,000,000 shall be imposed for one of the following acts:
a) Failing to submit financial statements to the competent state agency;
b) Failing to publicly disclose financial statements as prescribed.
5. Remedial measures:
Compelling the submission and public disclosure of the audit report attached to the financial statements for acts of violation specified in Points b and d, Clause 2 of this Article.
2. Enterprises required to audit financial statements
In 2026, enterprises required to have their financial statements (FS) audited include: FDI enterprises, credit institutions, insurance businesses, public/securities companies, state-owned enterprises (SOEs), and large-scale enterprises (meeting 2 out of 3 criteria: 200 employees, VND 300 billion in revenue, VND 100 billion in assets).
Details of mandatory audit cases:
1. Foreign Direct Investment (FDI) enterprises: All FDI enterprises must have their FS audited annually.
2. Credit and financial institutions: Including banks, financial companies, and insurance business/brokerage enterprises.
3. Public companies, securities issuing and trading organizations: These entities are required to be audited as prescribed.
4. State-owned enterprises (SOEs): All SOEs (except in cases involving state secrets).
5. State-invested enterprises: Enterprises with state capital holding 20% or more of voting rights.
6. Large-scale enterprises (according to Decree 90/2025/ND-CP): Enterprises not belonging to the above groups but meeting at least 2 out of 3 criteria (based on 2025 data):
- Average number of employees participating in social insurance from 200 persons or more.
- Total annual revenue from VND 300 billion or more.
- Total assets from VND 100 billion or more.
7. Specific projects and units: Projects of national importance, Group A projects using state capital, or ODA projects.
