Licenses library · 188
License to Operate Auditing Enterprise
审计企业经营许可证
ໃບອະນຸຍາດດໍາເນີນທຸລະກິດກວດສອບ
Any individual or legal entity intending to establish or co-operate with accounting and auditing enterprises in Lao PDR. Apply at Accounting Department.
Who needs this
Any individual or legal entity intending to establish or co-operate with accounting and auditing enterprises in Lao PDR.
Requirements
- Be a professional accountant or foreign auditing enterprise
- Be a member of the Chamber of Accountants and Auditors
- Not a government official, the owner, a shareholder, nor an employee of any enterprise.
- Has never been disciplined or convicted for any crime related to fraud or any other financial and accounting misconducts
- There must be at least 2 accounting experts and higher diploma in case it is a private enterprise
- At least 3/5 of the shareholders are all accounting experts, the executives, and the senior staff in case of two or more shareholders.
Documents — first application
| Document | Note |
|---|---|
| Certificate of Auditor | |
| Address Certification | |
| Evidence of Capital Contribution | |
| Certificate of Delegation from Accounting Parent Company | if any |
| Curriculum vate | in detail |
| Location Confirmation of Enterprise | attach with the location map |
| Photograph of the Managing Director | 2 photos (size 3x4), taken within 3 months |
| Court Clearence | |
| Request Letter | to operate auditing enterprise |
| Education Certificate | in related specialization |
| Membership Card or Certificate of Membership to Professional Accountants Organization | |
| Certificate of Appointment of Responsible Person in Lao PDR from the Parent Company | if any |
| Employment Certificate (in Accountants and/or Auditors) | |
| Identification Card or Passport | copy |
| Family Registration Book | copy |
| Business Operation Report of the Parent Company | |
| Contract of Incorporation | between partners (if any) |
| Company's Regulations | |
| Feasibility study | 3 years plan |
| Power of Attorney | in case of sending a representative |
Legal framework
- Law on Independent Audit
- Presidential Ordinance on Fees and Service Fees
How to submit
- Means of presentation
- At the Authority Offices
- Address of authority
- Accounting Department, Ministry of Finance
- Processing time
- 10 The Ministry of Finance will consider issuing the license within 10 working days from the date of receiving the application from the Industry and Commerce sector.
Validity and renewal
- Has an expiry date
- NO
- Renewal process
- Enterprises that obtained a license to operate an auditing enterprise must report their activities, organizational structure, and personnel to the Ministry of Finance on an annual basis (Article 63) for the issuance of the annual auditing enterprise monitoring certificate.
Additional comment
This sector is classified as a highly sensitive controlled business account, related to the accounting and financial work of the business entity, which must be obliged to the state in accordance with the regulations, and it needs to be considered through the relevant departments before registering to do business. (Pursuant to the Decree on the Adoption of Controlled Accounts No. 68/PM, dated 28 April 2008; Account A.02-68/PM.2012 on the Controlled Accounts and Business Accounts that must be verified through the relevant department before registering the enterprise). After obtaining a license to operate an auditing enterprise and registering the enterprise, within 30 days, the director or responsible shareholder shall be authorized as an auditor in accordance with the law from the Ministry of Finance (Article 44, paragraph 2).