The State Securities Commission has issued Decision 681 to suspend the qualification of four auditors of Deloitte Vietnam Co., Ltd. as public interest entity auditors in the securities sector.
Deloitte Vietnam Co., Ltd.
The four suspended auditors are: Mr. Pham Hoai Nam (Audit Practice Certificate No. 0042-2023-001-1); Mr. Le Dinh Tu (Audit Practice Certificate No. 0488-2023-001-1); Mr. Do Hong Duong (Audit Practice Certificate No. 2393-2021-001-1); and Mr. Tran Van Dang (Audit Practice Certificate No. 4142-2022-001-1).
The suspension is effective from June 25, 2024, until December 31, 2024. Notably, among the four suspended auditors, Mr. Le Dinh Tu is the Deputy General Director of Deloitte Vietnam.
Mr. Tu, along with Do Hong Duong and Tran Van Dang, were named in two audit reports of SCB Bank for the years 2018 and 2019.
Deloitte Vietnam is one of the “Big 4” auditing firms that previously audited SCB. Prior to the suspension, these firms had fully accepted SCB’s financial reports and found no irregularities in the bank’s financial statements.
However, when the situation at SCB came to light, authorities determined that as of September 30, 2022, SCB had accumulated losses of nearly VND 465,000 billion and negative equity of VND 444,000 billion.
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