Inventory of Business Licenses

Any individual or legal entity intending to establish or co-operate with accounting and auditing enterprises in Lao PDR.

Applicants shall meet the following conditions:
1. Be a professional accountant or foreign auditing enterprise;
2. Be a member of the Chamber of Accountants and Auditors;
3. Not a government official, the owner, a shareholder, nor an employee of any enterprise.
4. Has never been disciplined or convicted for any crime related to fraud or any other financial and accounting misconducts;
5. There must be at least 2 accounting experts and higher diploma in case it is a private enterprise;
6. At least 3/5 of the shareholders are all accounting experts, the executives, and the senior staff in case of two or more shareholders.

This sector is classified as a highly sensitive controlled business account, related to the accounting and financial work of the business entity, which must be obliged to the state in accordance with the regulations, and it needs to be considered through the relevant departments before registering to do business. (Pursuant to the Decree on the Adoption of Controlled Accounts No. 68/PM, dated 28 April 2008; Account A.02-68/PM.2012 on the Controlled Accounts and Business Accounts that must be verified through the relevant department before registering the enterprise).

After obtaining a license to operate an auditing enterprise and registering the enterprise, within 30 days, the director or responsible shareholder shall be authorized as an auditor in accordance with the law from the Ministry of Finance (Article 44, paragraph 2).