Article 1.- To amend and supplement Article 20 and Article 34 of the Government Decree No. 105/2004/ND-CP of March 30, 2004, on independent audit, as follows:

1. Clauses 1 and 3 of Article 20 is amended and supplemented as follows:

"1. Auditing enterprises are established and operate under the provisions of law in the form of limited liability company, partnership, private enterprise or enterprise under the Law on Foreign Investment in Vietnam. Auditing enterprises must make their form public during their transactions and operations."

"3. State auditing enterprises or joint-stock auditing companies which had been established and operating under the provisions of law on enterprises before the effective date of Decree No. 105/2004/ND-CP may be transformed into one of the forms of enterprise specified in Clause 1 of this Article within 3 years after such date."

2. Clause 2 of Article 34 is amended and supplemented as follows:

"2. The Finance Ministry shall be answerable to the Government for performing the function of state management of independent audit activities and provide specific guidance on criteria and conditions for establishing new auditing companies with limited liability or auditing partnerships according to the provisions of Clause 1, Article 1 of this Decree."

Article 2.- Implementation effect

This Decree takes effect 15 days after its publication in "CONG BAO."

All previous regulations contrary to this Decree are hereby annulled.

Article 3.- Implementation responsibilities

Ministers, heads of ministerial-level agencies, heads of Government-attached agencies, and presidents of provincial/municipal People's Committees shall have to implement this Decree.