What majors must the Head of the Supervisory Board of a state-owned enterprise have to have a university degree or higher?

What majors must the Head of the Control Board of a state-owned enterprise have a university degree or higher?

Regulations on the standards of the Head of the Control Board of state-owned enterprises in Clause 3, Article 103 of the Law on Enterprises 2020 as follows:

Board of Supervisors, Controllers

1. Based on the size of the company, the owner’s representative agency decides to establish a Supervisory Board with from 01 to 05 Controllers, including the Head of the Supervisory Board. The term of office of a Controller shall not exceed 05 years and may be reappointed but shall not exceed 02 consecutive terms at that company. In case the Supervisory Board has only 01 Controller, that Controller is also the Head of the Supervisory Board and must meet the standards of the Head of the Supervisory Board.

2. An individual can simultaneously be appointed as Head of the Supervisory Board and Controller of no more than 04 state-owned enterprises.

3. Head of the Supervisory Board and Controller must have the following standards and conditions:

a) Have a university degree or higher in one of the majors in economics, finance, accounting, auditing, law, business administration or a major suitable to the business activities of the enterprise and have at least 03 years of working experience; The Head of the Supervisory Board must have at least 05 years of working experience;

b) Must not be a company manager or manager at another enterprise; Must not be a Controller of an enterprise that is not a state-owned enterprise; Not an employee of the company;

c) Not a person related to the family of the head or deputy of the head of the company’s owner representative agency; member of the company’s Board of Members; Company President; Director or General Director; Deputy Director or Deputy General Director, Chief Accountant; Other controllers of the company;

d) Other standards and conditions specified in the company’s Charter.

4. The Government regulates this Article in detail.

According to the above regulations, the Head of the Supervisory Board of a state-owned enterprise must fully meet the standards and conditions specified in Clause 3, Article 103 above.

In particular, the Head of the Supervisory Board must have a university degree or higher in one of the majors in economics, finance, accounting, auditing, law, business administration or a major suitable to the business activities of the enterprise.

The Head of the State-owned Enterprise Control Board will assign tasks to each Controller?

The fact that the Head of the State-owned Enterprise Control Board will assign tasks to each Controller is stipulated in Article 106 of the 2020 Enterprise Law as follows:

Working regime of the Control Board control

1. The Head of the Supervisory Board develops monthly, quarterly and annual work plans of the Supervisory Board; Assign specific tasks and jobs to each Controller.

2. Controllers proactively and independently perform assigned tasks and tasks; Propose and recommend performing other tasks and control work outside the plan and outside the assigned scope when deemed necessary.

3. The Supervisory Board meets at least once a month to review, evaluate, and approve a report on control results for the month to be submitted to the owner’s representative agency; discuss and approve the next action plan of the Supervisory Board.

4. The decision of the Supervisory Board is passed when a majority of members attending the meeting agree. Opinions that differ from the content of the approved decision must be recorded fully and accurately and reported to the owner’s representative agency.

Accordingly, the Head of the Supervisory Board of a state-owned enterprise will develop monthly, quarterly and annual work plans of the Supervisory Board; Assign specific tasks and jobs to each Controller.

The Head of the Control Board of a state-owned enterprise will be dismissed if he fails to fulfill his duties?

In case of dismissal of the Head of the Control Board of a state-owned enterprise, it is stipulated in Clause 2, Article 108 of the 2020 Enterprise Law as follows:

Removal and dismissal of the Head of the Control Board and Control member

1. Head of the Supervisory Board and Controller are dismissed in the following cases:

a) No longer meet the standards and conditions as prescribed in Article 103 of this Law;

b) Have a resignation letter and be approved by the owner’s representative agency;

c) Being mobilized or assigned to perform other tasks by the owner’s representative agency or other competent authority;

d) Other cases as prescribed in the company’s Charter.

2. Head of the Supervisory Board and Controller are dismissed in the following cases:

a) Failure to perform assigned obligations, tasks, or work for 03 consecutive months, except in cases of force majeure;

b) Failure to complete assigned obligations, tasks, and work within 01 year;

c) Repeated violations, serious violations of the rights, obligations and responsibilities of the Head of the Supervisory Board and Controllers prescribed in this Law and the Company’s Charter;

d) Other cases as prescribed in the company’s Charter.

Thus, in case the Head of the Supervisory Board of a state-owned enterprise fails to complete the assigned tasks within 01 year, he may be dismissed according to regulations.