Independent auditing plays a crucial role in ensuring that a company's financial statements (F/S) are accurate, truthful, and complete. The role of independent auditing is especially emphasized for public companies and organizations that issue securities listed or traded on centralized markets. Each year, companies and issuing organizations must conduct audits, review their F/S, and disclose information in accordance with regulations to provide a basis for investors to evaluate and make investment decisions. This also serves as a foundation for relevant state authorities to review and determine compliance with applicable standards and regulations in managing and supervising the securities market.
However, numerous incidents involving auditors and auditing firms violating laws have raised questions about the ethics and responsibilities of these individuals and entities in their professional conduct. As a lawyer with many years of experience and specialized consulting in the field of securities and corporate law, Ms. Nguyễn Thị Ngọc Anh, Director and Managing Lawyer of Global ATA Law Firm, recently discussed issues related to violations and the deterrent effects of current penalties for breaches of independent auditing laws in an interview with the Securities Journal.
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