Independent Auditor: The Characteristics and Conditions You Need to Know

What is an independent auditor? Why must an auditor be independent?

An independent auditor is a person practising at audit firms or branches of audit firms licensed to operate by the Ministry of Finance. They are at the same time members of the Vietnam Association of Certified Public Accountants (VACPA) and fully meet the practice conditions according to legal regulations.

The auditor’s independence is a compulsory principle in audit activity. This is the foundation ensuring the objectivity and reliability of the audit report. Below are the reasons why an auditor must be independent:

• Ensuring objectivity in evaluation: The auditor’s independence helps them make truthful judgements, not swayed by personal interests or pressure from the audited enterprise. When there is no conflict of interest, the auditor can accurately evaluate the enterprise’s financial situation and level of compliance with accounting standards.
• Increasing reliability for financial statements: Financial statements after being audited have more value to investors, banks and related parties. If the auditor’s independence is ensured, the audit opinion will be objective and have higher reliability in the market.
• Protecting the public interest: Auditing not only serves the enterprise but also contributes to protecting the interests of shareholders, investors and society. The auditor’s independence helps limit fraud and errors and ensures financial information is disclosed transparently.
• Complying with standards and legal regulations: The regulations issued by the Ministry of Finance all require the auditor to maintain independence in both thought and form. Violating this principle can lead to penalties or suspension of practice.

>>>> READ NOW: Economic lawyer: The work, qualities and income you need to know

The characteristics of an independent auditor

The characteristics of an independent auditor clearly express the legal, professional nature and operational goals of the audit-services field. Clearly understanding these characteristics helps distinguish independent audit from internal audit and state audit.

Operating independently

The independent auditor performs the work based on the principle of objectivity, not depending on the audited enterprise in terms of management or finance. The auditor’s independence helps ensure the audit opinion is not swayed by personal interests, relationships or pressure from the client.

Arising from the audit contract

Independent audit activity is carried out based on a service contract signed between the audit firm and the enterprise. The content, scope, time and responsibilities of the parties are all clearly stipulated in the audit contract according to legal regulations.

Having financial statements as the subject

The main subject of the independent auditor is the enterprise’s financial statements, including the balance sheet, the business results report, the cash-flow statement and the notes to the financial statements. The goal is to give an opinion on the level of truthfulness and reasonableness of these statements.

Aiming mainly at making a profit

Independent audit is a type of business service. The audit firm operates according to the enterprise model and provides services to collect fees under contract. However, although the goal is profit, the auditor must still comply with professional standards and maintain independence to ensure service quality.

The auditor’s independence principle

According to Article 8, Resolution No. 51/2001/QH10, independent audit activity must comply with the following 4 basic principles:

• Complying with the law and taking responsibility for audit activity: The auditor and the audit firm must correctly implement the provisions of the law and take full responsibility for the content of the audit report.
• Complying with professional standards and ethics: All audit activity must be carried out according to the current audit-standards system and professional ethical principles.
• Ensuring independence, objectivity and truthfulness: When carrying out the audit, the auditor must maintain professional independence, not letting interest factors or external pressure affect the audit opinion.
• Keeping information confidential: The information collected during the audit process must be kept confidential, not disclosed or misused without permission according to legal regulations.

>>>> READ ON:Legal specialist: Everything you need to know

The responsibilities and obligations of an independent auditor

The independent auditor must bear legal and professional responsibility for their audit opinion. Below are the important obligations the auditor must comply with during practice:

• Complying with the law and standards: The auditor must perform the work in accordance with the legal regulations and the current accounting and audit standards; ensuring the audit process is professionally correct.
• Independent – truthful – objective: Not letting personal interests or relationships affect the audit opinion; not auditing a unit with a direct financial interest or family relationship.
• Information confidentiality: Keeping confidential all information and data collected during the audit process, except where the law requires provision.
• Taking responsibility for the audit report: Must ensure the report is truthful and accurate and take responsibility before the law if there is a serious violation.

The conditions to become an independent auditor

To become an independent auditor in Vietnam, an individual must fully meet the requirements according to the 2011 Law on Independent Audit and Circular 91/2017/TT-BTC. These conditions include requirements on personal identity, professional level and specific practice conditions.

Personal conditions

A person who wants to practise auditing must have Vietnamese nationality or be permitted to legally reside in Vietnam, have good professional ethics, a clear personal record and full civil act capacity according to legal regulations. This is an important foundation to ensure reputation and professional responsibility in the audit field.

Conditions on professional level

Candidates need to graduate from university in fields such as accounting, auditing, finance or banking. At the same time, they must have at least 3 years of practical experience in the accounting – finance field and pass the exam to be granted the auditor certificate (CPA Vietnam) organised by the Ministry of Finance.

Conditions on auditor practice

After having the CPA certificate, an individual must register for audit practice and be granted a Practice Registration Certificate according to regulations. In addition, the auditor may only practise when working at an audit enterprise legally licensed to operate by the Ministry of Finance.

>>>> POCKET NOW:Is the risk management specialist a human-resource-“thirsty” field?

Is HUFLIT an ideal address to pursue the audit profession?

If you are oriented towards the audit profession, HUFLIT is a training environment worth considering thanks to its clear practical orientation, dynamic environment and close connection with enterprises.

• • A training method tied to reality: HUFLIT builds the programme along an application orientation, focusing on career skills and the ability to handle real-world situations. Accounting – Auditing students not only learn foundational theory but also approach case studies, simulate the audit process and train data-analysis skills.
  • A dynamic learning environment: The University creates conditions for students to develop comprehensively through a modern learning model, encouraging discussion, teamwork and critical thinking. These are essential skills when working in a professional audit environment, where pressure and accuracy requirements are very high.

• A team of experienced lecturers: The lecturers at HUFLIT include teachers with deep expertise, many of whom have worked in the finance – audit field in reality. This helps students be shared real career experience and clearly understand the requirements of the labour market.

• Opportunities for exchange and enterprise connection: HUFLIT regularly organises thematic seminars, job fairs, internship programmes and exchanges with enterprises in the accounting – audit field. Students have the opportunity to contact recruiters, take part in early internships and accumulate real-world experience before graduation.
• Extracurricular activities and soft-skills development: Besides professional study, students also take part in academic and skills clubs and movement activities. This helps train communication, time-management and teamwork skills – important capacities to become a professional auditor.

Frequently asked questions about the independent auditor

The frequently asked questions about the independent auditor are always a topic of interest to many students and people working in the accounting – finance field. Let’s find out right away.

Which enterprises are required to have an independent audit?

According to Resolution No. 51/2001/QH10, the units required to have an independent audit include: enterprises with foreign investment (FDI), credit institutions, insurance enterprises, securities companies, state enterprises, enterprises with state capital and important national projects. In addition, other enterprises can voluntarily carry out an audit to increase transparency.

What are the standards for an independent auditor?

According to the 2011 Law on Independent Audit, the auditor must have a CPA certificate granted by the Ministry of Finance, a university degree in the finance – accounting – auditing field, full civil act capacity, good moral qualities and at least 36 months of practical experience. At the same time, they must periodically update their knowledge to maintain the practice conditions.

How to take the exam and get the independent auditor certificate?

Candidates need to meet the conditions on qualifications and experience, then register to take the CPA exam organised by the Ministry of Finance. When passing the exam subjects according to regulations and meeting the application conditions, the candidate will be granted the auditor certificate and can register for practice at a licensed audit enterprise.

The independent auditor is a profession that plays an important role in ensuring the transparency and truthfulness of an enterprise’s financial information. To pursue this field, students need to be equipped with solid professional knowledge. If you wish to study in a dynamic environment that focuses on practice and enterprise connection, refer to HUFLIT.

>>>> LEARN MORE RELATED CONTENT:

Financial-statement audit: The most complete handbook 2026

Internal audit: Attractive income or fierce competition?