Law on Independent Audit (Amended)
独立审计法（修订版）
ກົດໝາຍວ່າດ້ວຍ ການກວດສອບອິດສະລະ (ສະບັບປັບປຸງ)
Summary
This Law stipulates the objectives, definitions, and fundamental requirements of independent audit activities, and applies to individuals and entities engaged in independent audit work within the territory of Laos. Its provisions encompass the principles of audit independence, the duties of auditors, and professional practice standards, aiming to ensure the objectivity and fairness of audit results, thereby safeguarding economic order and the public interest.
Articles
Article 1
Article 1 (Amended). Purpose
This Law stipulates principles, regulations, and measures for the management, monitoring, and inspection of independent audit work, in order to ensure that such work is sound, accurate, transparent, effective, and efficient, aiming to safeguard the protection of the rights and interests of the State, collectives, society, auditors, and audited entities, to curb negative phenomena in the field of financial management, and to promote and enhance the confidence of domestic and foreign investors in participating in the country’s economic and social development.
Article 2
Article 2 (Amended). Independent Audit
Independent audit means the process of auditing financial statement documents and performing other audit procedures by an auditor of an audit enterprise, in an independent manner, based on a contract between the audited entity and the audit enterprise.
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