Conditions for providing cross-border audit services are specified in Clause 1, Article 11 Decree 17/2012/ND-CP (amended by Clause 2, Article 3 Decree 151/2018/ND-CP) as follows:

Conditions for providing cross-border audit services

1. Foreign auditing firms that meet the following conditions may register to provide cross-border auditing services:

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d) Have equity on the balance sheet equivalent to 500,000 (five hundred thousand) US dollars at the end of the fiscal year preceding the year of providing cross-border audit services in Vietnam;

e) Compulsory deposit of an amount equivalent to the legal capital specified in Clause 1, Article 5 of this Decree at a commercial bank legally operating in Vietnam with a payment guarantee letter from this bank committing to payment. audit in case the liability of audit contracts providing cross-border services in Vietnam exceeds the required deposit level;

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At the same time, based on Article 5 Decree 17/2012/ND-CP regulations:

Legal capital for limited liability companies

1. Legal capital for a limited liability company is 3 (three) billion Vietnam Dong; From January 1, 2015, the legal capital is 5 (five) billion VND.

2. During its operation, a limited liability company must always maintain equity on the balance sheet not lower than the legal capital prescribed in Clause 1 of this Article. Auditing firms must supplement capital if the equity on the balance sheet is lower than the legal capital level as prescribed in Clause 1 of this Article within 03 (three) months from the end of the fiscal year.

Thus, according to regulations, if a foreign auditing firm wants to provide cross-border auditing services in Vietnam, it must make a mandatory deposit of 5 (five) billion VND at a commercial bank operating in Vietnam.