1. Decree 174/2016/ND-CP on Accounting,

2. Decree 151/2018/ND-CP (Amending Decree 174/2016/ND-CP).

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(English – Tiếng Anh)

1. Decree 174/2016/ND-CP on Accounting

DECREE 174/2016/ND-CP

December 30, 2016

DETAILING A NUMBER OF ARTICLES OF THE LAW ON ACCOUNTING

Pursuant to the Law on Organization of the Government dated April 30, 2013, 19 year of 6;

Pursuant to the Accounting Law dated 20 month 11 year 2015;

At the proposal of the Minister of Finance;

The Government promulgates the Decree detailing a number of articles of the Accounting Law.

Chapter I. GENERAL RULES

Article 1. Scope

This Decree details a number of articles of the Accounting Law regarding the contents of the accounting work, the organization of the accounting apparatus and the accountants, the accounting service provision, the provision of accounting services through accountancy border and professional organization.

Article 2. Subject of application

1. The subjects specified in Clauses 1, 2, 3, 4, 5, 6, 7, 8, 9, Article 2 of the Accounting Law.

2. Foreign organizations and individuals (not subjects operating under Vietnamese law) earning income from the provision of services or services associated with goods in Vietnam (hereinafter referred to as houses for short). foreign contractor).

3. Commune, ward and township financial accounting and budgeting units.

4. Other agencies, organizations and individuals involved in accounting and providing accounting services in Vietnam.

Article 3. Explain words

In this Decree, the terms below are construed as follows:

1. Accounting units in the business domain include enterprises established and operating under Vietnamese law; branches of foreign enterprises operating in Vietnam; cooperatives and unions of cooperatives; project management board, other unit with legal status established by the enterprise.

2. Accounting units in the State accounting domain include agencies with State budget collection and spending tasks at all levels (State treasuries, tax offices and customs offices); budget accounting and financial units of communes, wards and townships; state agencies; business units-public; organizations and units using state budget; Project management units have legal status established by state agencies, public non-business units; agencies and organizations that manage state financial funds outside the state budget; organizations funded by the State to operate according to specific socio-political objectives.

3. Other accounting units are accounting units other than those specified in Clauses 1 and 2 of this Article.

4. The person responsible for the management and administration of the accounting unit is the person who manages the enterprise or the person who establishes the enterprise according to the provisions of the enterprise law; being a member of the Board of Directors (Board of Directors) of cooperatives in accordance with the cooperative law; is the head or the legal representative of the accounting unit; individuals holding other managerial positions have the authority to sign transactions on behalf of the accounting unit as prescribed.

5. Accounting service units include accounting firms, accounting households, branches of foreign accounting firms in Vietnam, and translation enterprises. Foreign accounting services providing cross-border accounting services in Vietnam.

6. Providing cross-border accounting services in Vietnam means the provision of accounting services by a foreign accounting firm that has no commercial presence in Vietnam but is still allowed to provide accounting services to enterprises. held in Vietnam.

7. Contents of accounting work include accounting vouchers; accounting accounts and accounting books; financial report; accounting check; property inventory, preservation and archiving of accounting documents; accounting work in case an accounting unit divides, splits, consolidates, merges, changes the form or form of ownership, dissolves, terminates operation, or goes bankrupt.

8. Joint venture in the provision of cross-border accounting services in Vietnam is a combination between a foreign accounting firm and an accounting firm in Vietnam but does not form a legal entity new to provide accounting services in Vietnam.

Article 4. Calculation units used in accounting

1. The accounting currency unit is Vietnam dong, the national symbol is “d” and the international symbol is “VND”. Where economic and financial transactions arise in foreign currencies, the accounting units must simultaneously keep track of the original currency and convert it into VND for recording in accounting books, unless otherwise provided for by law; For a foreign currency where the exchange rate with Vietnam dong is not available, it must be converted through another foreign currency with an exchange rate with Vietnam Dong and the foreign currency to be converted.

An accounting unit whose economic transactions mainly arise in a foreign currency may choose that foreign currency by itself as the accounting currency, take responsibility for that choice before the law and notify it. to the tax agency to manage directly. The exchange rate for converting foreign currencies into monetary units in accounting and converting financial statements made in foreign currencies into VND shall comply with the guidance of the Ministry of Finance, unless otherwise prescribed by law.

2. The accounting units in the State accounting domain, when arising the State budget revenues and expenditures in foreign currencies, must be converted into Vietnam dong according to the provisions of the State Budget Law.

3. The kind and working time units used in accounting include tons, weights, oats, kilograms, square meters, cubic meters, workdays, work hours and other units of measurement according to regulations. of the law of measurement.

4. Accounting unit in the field of business when preparing general financial statements, consolidated financial statements from financial statements of subsidiaries, affiliated accounting units or superior accounting units in the field of state accounting, when making general financial statements, reports on total annual budget settlements from financial statements, reports on budget settlement of inferior units, if there is at least 1 of the above items. For reports with 9 or more digits, the abbreviated currency unit is thousand dong (1.000 dong), if there are 12 or more digits, the abbreviated currency unit is million dong (1.000.000 dong). 15 VND), with 1.000.000.000 digits or more, the abbreviated monetary unit is VND billion (XNUMX VND).

5. Accounting units, when publicizing their financial statements and budget settlement reports, may use the abbreviated monetary unit prescribed in Clause 4 of this Article.

6. When using an abbreviated monetary unit, an accounting unit may round numbers by: If the number after the reduced currency unit is 5 or more, it shall be increased by 1 unit; if it is less than 5, it does not count.

Chapter II. SPECIFIED

Section 1. CONTENTS OF ACCOUNTING WORK

Article 5. Financial paper

1. Accounting vouchers must be made clearly, fully, promptly, accurately, easily checked, controlled and compared according to the contents specified in Article 16 of the Accounting Law.

2. Accounting units in business activities are allowed to actively formulate and design accounting voucher forms but must fully ensure the main contents of the accounting vouchers specified in Clause 1, Article 16 of the Law on Accounting. accounting, in accordance with the operational characteristics and management requirements of their units, unless otherwise prescribed by law.

3. In cases where the visually impaired is the person who is completely blind, the witness must be witnessed when signing the accounting vouchers with the sight-seeing person assigned by the unit arising the voucher. For the visually impaired who are not completely blind, accounting vouchers shall be signed as prescribed in the Accounting Law.

4. Accounting units that use electronic vouchers according to the provisions of Article 17 of the Accounting Law may use electronic signatures in their accounting work. Electronic signatures and the use of electronic signatures comply with the Law on Electronic transactions.

5. The accounting vouchers written in foreign languages, when used for recording in accounting books and for preparing financial statements in Vietnam, must be translated into Vietnamese with the main contents specified in Clause 1, Article 16 of the Accounting Law. . The accounting units must take responsibility for the accuracy and completeness of the contents of the accounting vouchers translated from foreign languages ​​into Vietnamese. The Vietnamese translation of the accounting voucher must be attached to the original in the foreign language.

Documents attached to accounting vouchers in foreign languages ​​such as types of contracts, dossiers attached to payment documents, investment project dossiers, settlement reports and other relevant documents of the accounting unit Math is not required to be translated into Vietnamese unless requested by a competent authority.

Article 6. Copied accounting documents

1. Copied accounting documents must be taken from the originals. Copyed accounting documents are valid and archived as originals. Copied accounting documents must have signature and seal (if any) of the legal representative of the accounting unit that keeps the original or the state agency competent to decide on temporary seizure or confiscation of assets. accounting data. An accounting unit is only allowed to copy accounting documents in the cases specified in accounts 2, 3, 4, 5 of this Article.

2. In case an accounting unit has a foreign loan or aid project under its commitment to submit the original accounting vouchers to the foreign donor, the accounting vouchers to be used at the unit must be available. signature and stamp (if any) of the legal representative (or an authorized person) of the sponsor or the accounting unit.

3. Where the project, program or topic is chaired by one agency or unit but is implemented in many different agencies or units, the accounting vouchers shall be archived at the direct agency or unit. using funding projects, programs, subjects. In case it is required to send documents to the agency or unit in charge, the agency or unit directly using the funding shall make a copy of the accounting voucher and send a copy with signature and stamp ( if any) of the legal representative (or an authorized person) of the unit for the agency or unit in charge.

4. In cases where the originals are temporarily seized or confiscated by the accounting units of the accounting units, the duplicated accounting documents which are left for the unit must have a signature and stamp (if any). ) of the legal representative (or an authorized person) of the state agency competent to decide on temporary seizure or confiscation of accounting documents as prescribed in Clause 2, Article 7 of this Decree.

5. Where accounting documents are lost or destroyed due to objective reasons such as natural disasters, floods, fires and other objective reasons, the accounting units must go to the buying and selling units. accounting documents, services or other related units to request copies of accounting documents. Copied accounting documents must be signed and certified (if any) of the legal representative (or an authorized person) of the buying unit, selling unit or other related units.

6. In cases where a unit related to the provision of accounting documents for copying has been dissolved, bankrupt or terminated its operation, the legal representative of the accounting unit should copy the accounting documents. must set up a council and make a “record identifying the accounting documents that cannot be reproduced” and take responsibility before law for such determination.

Article 7. Sealing, temporary seizure and confiscation of accounting documents

1. For state agencies competent to decide on sealing accounting documents according to the provisions of law, the accounting units and representatives of the competent State agencies shall perform the task of sealing accounting documents. must make “Minutes of sealing accounting documents”. The “record on sealing the accounting documents” must clearly state: The reason, type of document, quantity of each type of document, the accounting period and other necessary contents of the sealed accounting document. The legal representative of the accounting unit, the legal representative (or the authorized person) of the state agency competent to seal the accounting documents must sign and stamp (if any) on “Minutes of sealing accounting documents”.

2. In cases where the competent State agencies hold or confiscate accounting documents, the accounting units and the legal representatives of the competent State agencies shall temporarily seize or confiscate accounting documents. make “Minutes of delivery and receipt of accounting documents”. The “record of receipt of accounting documents” must clearly state: The reason, type of document, quantity of each type of document, the accounting period and other necessary contents of each type of document being temporarily seized or confiscated. ; If temporarily detained, the time of use and the return of accounting documents shall be clearly indicated.

The legal representative of the accounting unit and the legal representative (or an authorized person) of the state agency competent to temporarily seize or confiscate accounting documents must sign and seal (if yes) in the “Minutes of delivery and receipt of accounting documents”, at the same time the accounting unit must make copies of the temporarily seized or confiscated accounting documents. The copied accounting documents must be signed and certified (if any) of the legal representative (or an authorized person) of the state agency competent to temporarily seize or confiscate accounting documents. .

For accounting documents made on electronic media, the accounting units must print them out and sign for certification and stamp (if any) to provide them to the competent state agency to temporarily seize or confiscate the documents. accountant.

Article 8. Types of accounting documents to be archived

Accounting documents that must be archived include:

1. Accounting vouchers.

2. Detailed accounting books, general accounting books.

3. Financial report; budget settlement reports; budget settlement general report.

4. Other accounting-related documents include types of contracts; management accounting reports; dossiers and reports on settlement of completed projects and national important projects; reporting on inventory and assessment results; documents related to inspection, inspection, supervision, audit; records of destruction of accounting documents; decide to supplement capital from profits, distribute funds from profits; documents related to dissolution, bankruptcy, division, separation, consolidation, termination of operation, transformation of ownership form, transformation of enterprise type or conversion of unit; documents related to the receipt and use of funds, capital, funds; documents relating to tax, fee, charge and other obligations to the State and other documents.

Article 9. Preserving, storing and supplying accounting information and documents

1. Archived accounting documents must be originals according to the provisions of law for each type of accounting documents, except for the following cases:

a) The accounting documents specified in Clauses 2 and 3, Article 6 of this Decree have only one original but need to be archived in many units, apart from the original one, the other units may archive the copy accounting data.

b) During the time when accounting documents are temporarily seized or confiscated according to the provisions of Clause 4, Article 6 of this Decree, the accounting units must keep the copied accounting documents together with the “Record of receipt of the accounting documents. accounting “as prescribed in Clause 2 Article 7 of this Decree.

c) If an accounting document is lost or damaged due to objective reasons as prescribed in Clause 5, Article 6 of this Decree, the accounting unit must keep it as a photocopy. If the accounting documents cannot be copied as prescribed in Clause 6 Article 6 of this Decree, the unit must keep a record of determining that the accounting documents cannot be copied.

2. Accounting documents must be fully and safely preserved by the accounting units during their use. The accounting units must develop regulations on management, use and preservation of accounting documents, clearly defining the responsibilities and rights of each department and each accountant. If the accounting unit is a microenterprise in accordance with the law on support for small and medium-sized enterprises, it is not required to develop a regulation on management, use and preservation of accounting documents, but it is still required. has the responsibility to fully and safely preserve accounting documents according to regulations. Accounting units must ensure sufficient material foundations and means of management and preservation of accounting documents. Accountants are responsible for preserving their accounting documents in the course of use.

3. The legal representative of the accounting unit shall decide on the preservation and archival of accounting documents in paper or on electronic media. The preservation and archival of accounting documents must ensure safety, completeness, confidentiality and provide information at the request of competent state agencies.

4. The accounting documents to be archived must be complete, systematic, classified and arranged into separate dossiers according to the chronological order of occurrence and the annual accounting period.

5. The legal representative of the accounting unit must be responsible for providing accounting information and documents promptly, fully, honestly and transparently to the tax agency and competent state agency according to the provisions of law. The agencies provided with accounting documents shall have the responsibility to preserve and preserve the accounting documents during their use and must return in full and on time the used accounting documents.

Article 10. Accounting documents stored on electronic media

1. Before being archived, accounting vouchers and accounting books of the accounting units must be printed on paper for archival according to regulations, unless the units choose to store them electronically. The storage of accounting documents on electronic media must ensure the safety and confidentiality of data and information and must be searchable during the storage period.

State accounting units (except for units of state budget revenue and expenditure at all levels), if they choose to store their accounting documents electronically, still have to print the general accounting books on paper and sign for certification and stamp (if any) for archival according to regulations. The printing of accounting vouchers, detailed accounting books and other accounting documents is decided by the legal representative of the unit. State budget revenue and expenditure units at all levels shall comply with regulations of the Minister of Finance.

2. At the request of the competent agency to serve the examination, inspection, supervision and audit according to regulations, the accounting units shall be responsible for printing the archived accounting documents on paper. on electronic media, sign for certification by the legal representative or chief accountant (in charge of accounting) and stamp (if any) for supply according to the deadline required by the competent authority.

Article 11. Place of archiving of accounting documents

1. Accounting documents of any unit are archived at the warehouse of that unit. Accounting units must ensure that they have adequate storage equipment and ensure safety during the storage process as prescribed by law.

In case the unit does not have a section or an archive at the unit, it may hire an organization or archiving agency to archive accounting documents on the basis of an archive contract as prescribed by law.

2. Accounting documents of foreign-invested enterprises, branches and representative offices of foreign enterprises operating in Vietnam during their operation in Vietnam according to investment certificates or certificates. Receipt of enterprise establishment registration or the granted certificate of operation of a branch or representative office must be archived at an accounting unit in Vietnam or hires an archiving organization in Vietnam to archive documents. accountant. At the end of the operation in Vietnam, the legal representative of the unit shall decide where to store accounting documents, unless otherwise prescribed by law.

3. Accounting documents of entities that are dissolved, go bankrupt, terminate operations or projects that end operations include accounting documents of the annual accounting periods that are still in period and the accounting documents. accounting units related to the bankruptcy dissolution, termination or termination of operations, stored at a place decided by the accounting unit’s representative at law or under a decision of a competent agency to terminate activity or end of project.

4. The accounting documents of the unit converting the ownership form, the enterprise type or the unit type transformation include the accounting documents of the annual accounting periods which are still in the archival period and the documents. Accounting data related to ownership transformation, enterprise type conversion or conversion of a unit are archived at a new accounting unit or at a place where the competent authority decides to convert the ownership form , business type conversion or decision unit conversion.

5. Accounting documents of the annual accounting periods which are still in the archival term of the divided or split units: If the accounting documents are divided for the new accounting unit, they shall be archived in the new unit; If the accounting documents cannot be divided, they shall be archived at the divided or split accounting unit or at a place decided by the agency competent to decide the division or separation of the unit. Accounting documents related to division of accounting units are archived in new accounting units. Accounting documents related to the separation of the accounting unit shall be archived at the location where the split unit or the new accounting unit is located.

6. Accounting documents of the annual accounting periods which are still in the archival period and the accounting documents related to the consolidation or merger of the accounting units shall be archived at the merging unit or the accounting unit. consolidated math.

7. Accounting documents on security and national defense must be archived in accordance with relevant laws.

Article 12. Accounting documents must be archived for at least 5 years

1. Accounting vouchers are not directly used for recording accounting books and making financial statements, such as receipts, check receipts, warehouse receipts, not stored notes in the accounting documents of the accounting department.

2. Accounting documents used for the management and administration of the accounting units do not directly record the accounting books and prepare financial statements.

3. In cases where accounting documents specified in Clauses 1 and 2 of this Article are required by other laws to be archived for more than 5 years, they shall be archived according to such regulations.

Article 13. Accounting documents must be archived for at least 10 years

1. Accounting vouchers directly used for recording accounting books and making financial statements, lists, detailed summary tables, detailed accounting books, general accounting books, financial statements month, quarter and year of the accounting unit, the settlement report, the accounting self-inspection report, the record of destruction of archived accounting documents and other documents directly used for making entries in the accounting books and reporting financial statements.

2. Accounting documents related to the liquidation, assignment or sale of fixed assets; inventory results and asset assessment reports.

3. Accounting documents of the investor, including the accounting documents of the annual accounting periods and the accounting documents on the settlement report of the completed project in groups B, C.

4. Accounting documents relating to the establishment, division, separation, consolidation, merger, transformation of ownership form, conversion of enterprise type or unit conversion, dissolution, bankruptcy, termination of operation project end.

5. Relevant documents at the unit such as audit records of the State Audit, inspection, examination and supervision records of competent state agencies or independent auditing organizations.

6. Other documents not specified in Articles 12 and 14 of this Decree.

7. Where accounting documents specified in Clauses 1, 2, 3, 4, 5, 6 of this Article are required by other laws to be archived for more than 10 years, they shall be archived according to that regulation.

Article 14. Accounting documents must be archived in perpetuity

1. For accounting units in the field of State accounting, the accounting documents that must be permanently archived include the annual State budget total settlement report approved by the National Assembly and the local budget settlement report. approved by the People’s Councils at all levels; Documents and reports on settlement of completed projects of group A, national important projects; Other accounting documents have historical properties and have important economic, security and defense meanings.

The determination of other accounting documents that must be permanently archived shall be determined by the legal representative of the accounting unit, decided by the branch or locality on the basis of determining the nature of historical data and of important economic significance. , security and defense.

2. For business activities, the accounting documents that must be permanently archived include accounting documents with historical data and important economic, security and defense significance.

The determination of accounting documents that must be permanently archived is decided by the head or at-law representative of the accounting unit based on the historical material and long-term meaning of the documents and information to decide. for each specific case and assigned to the accounting department or other department for archival in the original form or other form.

3. The permanent archival period must be more than 10 years until the accounting documents are naturally destroyed.

Article 15. Time of calculating the time limit for archival of accounting documents

The time for calculating the time limit for archival of accounting documents is prescribed as follows:

1. The time for calculating the time limit for archival of accounting documents specified in Articles 12, Clauses 1, 2, 7, Article 13 and Article 14 of this Decree is counted from the end of the annual accounting period.

2. The time for calculating the time limit for archival of the accounting documents specified in Clause 3, Article 13 of this Decree is counted from the date the report on settlement of the completed project is approved.

3. The time for calculating the time limit for archival of accounting documents related to the establishment of the unit is counted from the date of establishment; Accounting documents relating to division, separation, consolidation, merger, transformation of ownership form, transformation of type are calculated from the date of division, separation, consolidation, merger, transformation of ownership form, transformation change type; accounting documents related to dissolution, bankruptcy, operation termination or project termination are counted from the date of completion of the procedures for dissolution, bankruptcy, operation termination or project completion; accounting documents related to the audit, inspection or examination records of the competent agency counted from the date of having the audit report or the inspection or examination conclusion.

Article 16. Destruction of accounting documents

1. The accounting documents which have expired, if there is no other designation of the competent State bodies, may be destroyed under decisions of the accounting units’ representatives at law.

2. The accounting documents that are archived of any accounting unit shall be destroyed.

3. Depending on the specific conditions of each accounting unit to choose the appropriate form of destruction of accounting documents such as burning, cutting, shredding or other forms of destruction, ensuring the accounting documents have been destruction will not be able to reuse the information or data on it.

Article 17. Procedures for destruction of accounting documents

1. The legal representative of the accounting unit shall decide to set up a “Councils for destruction of expired accounting documents”. Members of the Council include: the leader of the accounting unit, the chief accountant, the representative of the archiving division and other members appointed by the legal representative of the accounting unit.

2. The accounting document destruction council must inventory, evaluate, classify accounting documents according to each type, make a “list of destroyed accounting documents” and “minutes of destruction of accounting documents. expiration of storage period ”.

3. The “record on destruction of expired accounting documents” must be made immediately after the destruction of the accounting documents and must clearly state the following contents: Types of accounting documents which have been destroyed, the duration of archival of each type, form of destruction, conclusions and signatures of the destruction Council members.

Section 2. ORGANIZATION OF ACCOUNTING APPARATUS AND ACCOUNTANT

Article 18.- Organization of the accounting apparatus

1. Accounting units must appoint accountants to comply with the provisions of the Accounting Law, and the number of accountants depends on the operation scale, management requirements, functions, duties or payrolls of the applications. taste. An accounting unit may appoint a concurrent accountant to perform other jobs that are not prohibited by the accounting law.

2. The organization of the accounting apparatuses at the accounting units shall be decided by the agency competent to establish the unit. If the organization or unit does not have a competent authority, it shall be decided by its legal representative.

The organization of accounting apparatus and work of subordinate units that are not an accounting unit or of an affiliated unit other than an accounting unit is decided by the accounting unit’s legal representative. State accounting units are not allowed to arrange chief accountants or accountants in units that are not accounting units.

Financial statements of an accounting unit must include financial information of its subordinate and affiliated entities.

3. The agencies responsible for State budget revenues and expenditures at all levels shall organize the accounting apparatuses to account for the State budget revenues and expenditures in accordance with the organizational apparatus and functions and tasks assigned.

4. State agencies, organizations and non-business units using state budget shall organize the accounting work according to budget estimate units. In case an accounting unit at the provincial level does not have an affiliated accounting unit that is both a superior budget estimate unit and a budget-using unit and an accounting unit at the district level is both a superior estimate unit and As the unit using the budget, it is entitled to be arranged together with an accounting apparatus to perform all the accounting tasks of the unit.

5. Persons with professional accounting qualifications are those who have graduated from professional secondary schools, colleges, universities, graduate schools, majoring in finance, accounting and auditing at intermediate schools and colleges. domestic and foreign universities or institutes; a person who has an auditor’s certificate under the provisions of the Law on Independent Audit; an accountant certificate holder in accordance with the Law on Accounting; holders of accountants’ certificates or accounting certificates recognized by foreign organizations or foreign professional organizations recognized by the Vietnamese Ministry of Finance.

6. For persons appointed by competent authorities as chief accountants of accounting units in the field of State accounting and having actually worked as chief accountant in these units for 10 years or more Up to the effective date of this Decree, it shall still be considered and appointed as chief accountant of the accounting unit in the field of state accounting if all other conditions are met as prescribed for chief accountants. Not required to have a diploma in finance, accounting, auditing as specified in clause 5 of this Article.

7. For persons who do not have a diploma in finance, accounting or auditing but have been appointed by a competent authority to the rank of chief accountant or accountant at accounting units in the accounting domain Before January 01, 01, the State may continue to work as chief accountant but may not be appointed as chief accountant until all criteria and conditions of chief accountants are met as prescribed for chief accountants. , except for those who are still allowed to work as chief accountants specified in Clause 2014 of this Article.

Article 19.- Persons who are not allowed to act as accountants

1. The cases specified in Clauses 1 and 2, Article 52 of the Accounting Law.

2. Natural father, natural mother, adoptive father, adoptive mother, wife, husband, natural child, adopted child, sibling of a legal representative, of the head, director or general director and of deputies of the head, deputy director or deputy general director in charge of finance – accounting, chief accountant in the same accounting unit, except private enterprises, limited liability companies owned by an individual, another type of enterprise with no state capital and being a microenterprise in accordance with the law on SME support.

3. Persons working as managers, executives, storekeepers, cashiers, and persons assigned with the task of regularly buying and selling assets in the same accounting unit, except in the same private enterprise or liability company. limited liability is owned by an individual and enterprises of other types do not have state capital and are microenterprise in accordance with the law on SME support.

Article 20: Chief Accountant, in charge of accounting

1. Accounting units must arrange chief accountants, except for those specified in Clause 2 of this Article. In case the unit cannot immediately appoint a chief accountant, it shall appoint a person in charge of accounting or hire a service to be the chief accountant according to regulations. The maximum time to appoint a person in charge of accounting is 12 months. After this time, the accounting unit must appoint a chief accountant.

2. In charge of accounting:

a) State-owned accounting units include: An accounting unit has only one accountant or part-time accountant; the commune, ward and township budget accounting and financial units do not appoint chief accountants, but only appoint in charge of accounting.

b) Micro-enterprises in accordance with the law on support for small and medium-sized enterprises may be arranged to be in charge of accounting without having to arrange chief accountants.

3. The time limit for appointing chief accountants of the accounting units in the State accounting domain, the time limit for appointing the chief accountants of the units defined at Point a, Clause 2 of this Article is 5 years after that. implementing the procedures for re-appointment of chief accountants and accountants.

4. When the chief accountant or accountant is changed, the legal representative of the accounting unit or the manager or operator of the accounting unit must organize the hand-over of the work and accounting documents between the accountant. the chief accountant, in charge of the former accountant and the chief accountant, is in charge of the new accountant, and at the same time informs the relevant departments in the unit and the agencies where the entity opens the transaction account of his / her full name and signature sample of the chief accountant, in charge of the new accountant. The new chief accountant or accountant is responsible for his or her accounting work from the day on which the work is handed over. The former chief accountant and accountant in charge are still responsible for the accounting work during their time in charge.

5. The Ministry of Home Affairs shall guide the work responsibility allowance, competence and procedures for the appointment, reappointment, dismissal, replacement of chief accountants and accountants of accounting units in the accounting domain. government.

Article 21.- Standards and conditions of chief accountants and accountants

1. Chief accountants, in charge of accounting must have standards specified at Points a, c and d, Clause 1, Article 54 of the Accounting Law and not fall into the cases of not being allowed to act as accountants according to the provisions of Article 19 of the Decree. this. The Ministry of Finance shall provide for the organization, retraining and issuance of chief accountant certificates.

2. Chief accountants and accountants of the following accounting units must have professional accounting expertise at a university or higher degree, including:

a) State budget revenue and expenditure agencies at all levels;

b / Ministries, ministerial-level agencies, Government-attached agencies, agencies attached to the National Assembly, other central state agencies and the accounting units affiliated to these agencies;

c) Public non-business units affiliated to ministries, ministerial-level agencies, governmental agencies, other central agencies, and provincial People’s Committees;

d) Professional agencies affiliated to the People’s Committees of provinces and the equivalent; State management agencies under these agencies;

dd) A vertical organization in the province;

e) Political organizations, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations at central and provincial level using budget government;

g) The investment project management unit has its own accounting apparatus and state budget-funded under projects group A and projects of national importance;

h) The level 1 budget estimate unit of the district budget;

i) Enterprises established and operating under Vietnamese law, except the case specified at Point g, Clause 3 of this Article;

k) Cooperatives and unions of cooperativess with charter capital of 10 billion VND or more;

l) Branches of foreign enterprises operating in Vietnam.

3. The chief accountants and accountants of the following accounting units must have professional accounting expertise at the intermediate professional level or higher, including:

a) The specialized agencies affiliated to the People’s Committees of districts have an accounting apparatus (except for the level 1 budgeting units belonging to the district budget);

b) Vertically organized central agencies at district level, and provincial agencies at district level;

c) Political organizations, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations at district level using state budget;

d) The investment project management unit has its own accounting apparatus and uses state budget, except for the cases specified at Point g, Clause 2 of this Article;

dd) Commune, ward and township financial accounting and budgeting units;

e) Public non-business units other than those specified at Point c, Clause 2 of this Article;

g) Enterprises established and operating under Vietnamese law without state capital, charter capital of less than 10 billion VND;

h) Cooperatives and unions of cooperativesss with charter capital of less than 10 billion VND.

4. For organizations and units other than those specified in Clauses 2 and 3 of this Article, the qualifications and professional qualifications of the chief accountant and accountant in charge shall be determined by the representative. the law of the decided unit is consistent with the provisions of the Accounting Law and other relevant laws.

5. For chief accountants and in charge of accounting of parent companies being state enterprises or enterprises with state capital accounting for more than 50% of the charter capital, they must have at least an actual working time in accounting. 05 years.

6. The professional standards and conditions of chief accountants and accountants of units belonging to the people’s armed forces are specified by the Ministry of National Defense and the Ministry of Public Security.

Article 22. Hire accountant services, chief accountant services, and accountants in charge

1. Accounting units in the business domain; organizations and non-business units that do not use state budget and other accounting units specified in Clause 3, Article 3 of this Decree may hire accounting service units to act as accountants or chief accountants. accountant. Organizations and non-business units using state budget may hire accounting service units to act as accountants or chief accountants, in charge of accounting decided by their legal representatives. .

2. The accounting service business unit, when appointing its clients to provide accounting services, must comply with the provisions of Clause 1, Article 51, Article 56, and Article 58 of the Law on Accounting and not fall into the cases ineligible to act as an accountant. accounting or failing to provide accounting services specified in Articles 19 and 25 of this Decree.

3. When appointing customers to provide chief accountant services or accounting service providers, they must comply with the provisions of Articles 56 and 58 of the Accounting Law, Article 21 of this Decree and do not fall into the in cases where they are not entitled to work as an accountant or provide accounting services as prescribed in Articles 19 and 25 of this Decree.

4. The person hired to provide accounting services has the rights and obligations of accountants specified in Clauses 2 and 3, Article 51 of the Accounting Law. The person hired to act as chief accountant or accountant has the rights and responsibilities of the chief accountant specified in Article 55 of the Accounting Law.

5. The legal representative of the accounting unit must be responsible for hiring of accounting services, hiring of chief accountant services, and in charge of accounting.

Article 23.- Accounting for representative offices of foreign enterprises operating in Vietnam, business households and cooperative groups, and foreign contractors

1. The arrangement of accountants of representative offices of foreign enterprises operating in Vietnam and business households and cooperative groups shall be decided by the head of the representative office, the representative of a business household or a cooperative group .

2. Representative offices of foreign enterprises operating in Vietnam and business households and cooperative groups may apply the enterprise accounting regime to open accounting books for monitoring, recording and defining definitions. taxes on the state budget.

3. If a foreign contractor has a permanent establishment or resides in Vietnam but this permanent establishment or residence is not an independent unit with legal status, this permanent establishment or residence may be selected. fully apply or some of the contents of the Vietnamese enterprise accounting regime in accordance with the characteristics of their operations and management requirements and must be notified to the tax authorities according to regulations.

If the contractor chooses to fully apply the Vietnamese corporate accounting regime, it must do so consistently for the entire accounting year.

Section 3. ACCOUNTING SERVICES BUSINESS ACTIVITIES

Article 24.- The accounting service business of auditing enterprises and practicing auditors

1. Auditing enterprises that fully satisfy the conditions to provide audit services under the law on independent audit may provide accounting services. When no longer meeting conditions to provide audit services under the provisions of the law on independent audit, the auditing firm is not allowed to provide accounting services.

2. Auditors who fully satisfy the audit practice conditions under the law on independent audit may practice accounting services. When no longer qualified to practice auditing under the provisions of the law on independent audit, practicing auditors are not allowed to practice accounting services.

3. Auditing firms and practicing auditors are subject to the Finance Ministry’s control on the quality of the accounting services provided.

Article 25. Cases in which accounting services are not provided

Accounting service enterprises, accounting households, and auditing firms (hereinafter collectively referred to as accounting service providers) are not allowed to provide accounting services to other entities. is responsible for management, administration or the person directly providing accounting services of the unit in the following cases:

1. Be a natural father, natural mother, adoptive father, adoptive mother, wife, husband, natural child, adopted child, sibling of a person responsible for the management, administration, and chief accountant of the accounting unit Except for the case that the accounting unit is a private enterprise, a limited liability company owned by an individual, enterprises of other types without state capital are micro enterprises as prescribed by laws on small and medium enterprise support.

2. The cases specified in Clauses 2, 3, 4, 5, Article 68 of the Law on Accounting.

3. Other cases in accordance with provisions of professional ethical standards of accounting, auditing and provisions of law.

Article 26. Ratio of capital contribution of members who are organizations of limited liability companies with two or more members

An organization member is entitled to contribute up to 35% of the charter capital of a limited liability company providing accounting services with two or more members. In case there are many organizations contributing capital, the total capital contribution ratio of these organizations must not exceed 35% of the charter capital of the accounting service limited liability company with two or more members.

Article 27. Capital contribution ratio of practicing accountants in limited liability companies with two or more members

1. An accounting service limited liability company must have at least 02 capital contributing members who are accountants registered to practice at the company. Capital contributed by practicing accountants must account for more than 50% of the company’s charter capital.

2. Practicing accountants may not concurrently register to practice accounting services at two or more accounting service business units at the same time.

Article 28. Professional liability insurance

1. Accounting service business units must purchase professional liability insurance in order to have sources to pay compensation for damage caused to customers due to risks in the process of practicing accountants of their units providing services. customer.

2. The time of buying professional liability insurance for practicing accountants must be within 60 days from the date the practicing accountants are granted the accounting service registration certificates in the applications. taste.

Insurance expenses are included in business expenses according to actual costs of buying insurance and must have legal invoices and documents as prescribed.

3. The accounting service business unit and the insurance enterprise can agree on the premium to ensure that if any damage occurs, the level of compensation will be according to the level of liability in the contract / agreement between the parties but must not be lower than the service charge collected by the accounting service business of the customer.

Section 4. PROVISION OF BORDER ACCOUNTING SERVICES OF FOREIGN ACCOUNTING SERVICES ENTERPRISES

Article 29. Subjects to be provided with cross-border accounting services for enterprises and organizations in Vietnam

1. Subjects to be provided with cross-border accounting services to enterprises and organizations in Vietnam are foreign accounting service enterprises with nationality in the member country of the substituting trading organization. gender or country or territory that has an international treaty with Vietnam on the provision of cross-border accounting services in Vietnam.

2. The performance of the centralized accounting work in accordance with the foreign enterprise’s general policy within the Group of the foreign enterprise for the parent company and other subsidiaries in the same group operating in Vietnam shall not be regarded as providing activities cross-border accounting services. In this case, the accounting unit in Vietnam is not considered to hire the accounting service, the chief accountant service or the chief accountant in accordance with the provisions of this Decree and the chief accountant and representative. The law of an accounting unit in Vietnam must take full responsibility for the accounting data and information of the entity in Vietnam according to the provisions of Vietnamese law.

Article 30. Conditions for providing cross-border accounting services

1. A foreign accounting service enterprise that fully satisfies the following conditions may register to provide cross-border accounting services:

a) To be permitted to provide accounting services in accordance with the law of the country where the head office of the foreign accounting firm is located;

b) There is a document of the accounting service practice management agency (the accounting state management agency or professional organization) where the foreign enterprise is headquartered to confirm that it does not violate the regulations on providing accounting services and other foreign laws for 3 years prior to the time of applying for the Certificate of eligibility to provide cross-border accounting services;

c) Having at least 02 people who have been granted the certificate of accounting service registration by the Vietnamese Ministry of Finance, including the legal representative of the foreign accounting firm;

d) Having purchased professional liability insurance for accountants practicing in Vietnam;

dd) Not being administratively sanctioned for providing cross-border accounting services in Vietnam within 12 months to the time of applying for the Certificate of eligibility to provide cross-border accounting services. gender in Vietnam.

2. A foreign accounting firm may only provide cross-border accounting services in Vietnam after it has been registered and is granted the Certificate of eligibility to provide accounting services by the Vietnamese Ministry of Finance. cross-border payments in Vietnam. The mode of providing cross-border accounting services must comply with Article 31 of this Decree.

3. The foreign accounting service enterprise must always maintain the conditions specified in Clause 1 of this Article throughout the effective period of its Certificate of eligibility to provide cross-border accounting services at Vietnam. When one of these conditions is not met, together with the expired documents, the foreign accounting firm shall notify the Ministry of Finance within 20 days from the date of ceasing. qualified according to regulations.

Article 31. Modes of cross-border provision of accounting services

1. Foreign accounting service enterprises, when providing cross-border accounting services in Vietnam, must enter into a partnership with an accounting firm in Vietnam that is fully qualified to provide such services. accounting in accordance with the law.

2. Only the accounting service enterprise in Vietnam that satisfies all the conditions for providing accounting services specified in Article 60 of the Accounting Law and this Decree has obtained the Business Qualified Certificate. a new accounting service is to enter into a partnership with a foreign accounting firm to provide cross-border services.

3. The foreign accounting firm and the accounting service enterprise in Vietnam must make a partnership contract for the provision of cross-border accounting services. The partnership contract must clearly define the responsibilities of the parties in providing cross-border accounting services.

4. Foreign accounting service enterprises and accounting service enterprises in Vietnam, when entering into a partnership to provide cross-border accounting services, must enter into accounting service contracts with the hiring unit. accounting services in accordance with Vietnamese law. Accounting service contracts must contain all signatures of the legal representative of the foreign accounting firm, the accounting firm in Vietnam and the accounting service hiring unit.

5. A foreign accounting firm or an accounting firm in Vietnam participating in the joint venture contract to provide accounting services must appoint a practicing accountant in charge of accounting services. accounting is the responsibility of their business in the accounting service contract.

6. Accounting service contracts, partnership contracts and accounting service dossiers must be made simultaneously in both Vietnamese and English.

7. All transactions of payment and money transfer relating to fees for providing accounting services across border must be done in the form of wire transfer through credit institutions operating in accordance with the law on foreign exchange management. of Vietnam.

Article 32.- Responsibilities of the foreign accounting firm providing cross-border accounting services

1. Arranging personnel to ensure the quality of accounting services. Comply with regulations on prohibited acts, the cases in which accounting services are not provided in Article 25 of this Decree and other relevant regulations of the Accounting Law.

2. To comply with Vietnamese accounting standards and regimes when providing cross-border accounting services in Vietnam.

3. Pay taxes and fulfill other financial obligations related to the provision of cross-border accounting services in Vietnam in accordance with Vietnam’s current tax laws.

4. Every 6 months, to report to the Ministry of Finance on the implementation of the contract for provision of cross-border accounting services arising in a period in Vietnam according to the report form prescribed by the Finance Ministry.

5. Assign a responsible person, representing the enterprise, to report and explain to the Vietnamese authorities about the accounting service contract, accounting service records and other matters related to the providing cross-border accounting services in Vietnam.

6. Within 120 days from the end of a fiscal year, submit to the Ministry of Finance its annual financial statements and written comments and evaluation by the accounting service management agency where the enterprise does business. headquartered foreign accounting services business on the implementation and compliance with the law on accounting service business and other legal regulations.

7. To exercise the rights and obligations of the accounting service enterprises prescribed in this Decree and comply with the provisions of the Accounting Law and other relevant law provisions of Vietnam.

Article 33. Responsibilities of an accounting firm in Vietnam that has entered into a partnership with a foreign accounting firm to provide cross-border accounting services

1. To keep all records of providing accounting services that have made a partnership to provide to the authorities when requested.

2. To take responsibility before law for the result of the provision of accounting services and be accountable to competent agencies for the results of the provision of accounting services, the records of the provision of accounting services and matters. Another problem arises from a partnership with a foreign accounting firm to provide accounting services.

3. To report to the Ministry of Finance every 6 months on the situation of joint venture with the foreign accounting service enterprise in the provision of cross-border accounting services arising in a period according to the report form set by the Ministry. Financial regulations.

4. To be subject to the annual accounting service quality control according to the Finance Ministry’s regulations.

Article 34. Dossier, order and procedures for issuance of Certificate of eligibility to provide cross-border accounting services in Vietnam of the foreign accounting firm

1. A dossier of application for a Certificate of eligibility to provide cross-border accounting services in Vietnam includes:

a) Documents proving that the foreign accounting firm is permitted to provide accounting services in accordance with the laws of the country where the head office of the foreign accounting firm is located;

b) A written certification by a competent authority of the locality where the foreign accounting firm is headquartered of its failure to violate regulations on accounting service provision and other foreign laws within 3 years prior to the time of application for the Certificate of eligibility to provide cross-border accounting services;

c / Copies of the accounting service registration certificates granted by the Ministry of Finance to practicing accountants, including the enterprise’s legal representative;

d) Documents proving the purchase of professional liability insurance for accountants practicing in Vietnam.

2. The order and procedures for grant of the Certificate of eligibility to provide cross-border accounting services

a) The foreign accounting firm applying for the Certificate of eligibility to provide cross-border accounting services shall send 01 set of documents specified in Clause 1 of this Article to the Ministry of Finance;

b) Within 15 days from the date of receipt of a complete and valid application, the Ministry of Finance shall consider issuing the Certificate of eligibility to provide cross-border accounting services to the foreign accounting firm. . In case of refusal, the Ministry of Finance must reply in writing, clearly stating the reason.

3. The Ministry of Finance shall provide for the form of Certificate of eligibility to provide cross-border accounting services, the form of report on the provision of cross-border accounting services in Vietnam by the accounting service enterprise. foreign.

Section 5. PROFESSIONAL ORGANIZATION ON ACCOUNTING

Article 35. Professional organization of accounting

1. Professional accountancy organizations are socio-professional organizations of accountants, holders of accountant certificates, practicing accountants, accounting service business units.

2. Professional accounting organizations are entitled to:

a) Fostering and updating knowledge for accountants and practicing accountants;

b) Participate in researching, drafting and updating the system of Vietnamese accounting standards and professional ethical standards on the basis of international accounting standards and professional ethics;

c) Participate in the examination of the accountant certificate in accordance with regulations of the Ministry of Finance;

d) Coordinate with the Ministry of Finance in inspecting and controlling the quality of accounting services upon request.

3. The Ministry of Finance shall specify conditions, modes and regimes for reporting and supervising, examining and inspecting the activities of professional accounting organizations specified in Clause 2 of this Article.

Chapter III. ORGANIZATION OF IMPLEMENTATION

Article 36. Enforcement

1. This Decree takes effect from March 01, 01.

2. Decree No. 128/2004 / ND-CP dated May 31, 5 of the Government detailing and guiding the implementation of a number of articles of the Accounting Law applicable to the field of state accounting and Decree No. 2004/129 / ND-CP dated May 2004, 31 of the Government detailing and guiding the implementation of a number of articles of the Law on Accounting in business activities expires from the effective date of this Decree. onions.

Article 37. Transitional provisions

1. Within 24 months from the effective date of this Decree, the person who is appointed to be in charge of accounting before the effective date of this Decree must have a chief accountant certificate as prescribed. at Point c, Clause 1, Article 54 of the Accounting Law.

2. Within 24 months from the effective date of this Decree, limited liability companies with two or more members providing accounting services established before the effective date of this Decree. must ensure the capital contribution ratio of the capital contributor and the practicing accountant according to the provisions of this Decree and other conditions as prescribed by the Accounting Law in order to be granted the Certificate of eligibility for translation business. accounting department. If one of the conditions specified in this Decree or the Accounting Law is not met, the provision of accounting services must be terminated.

3. For units in the State accounting domain which have appointed chief accountants before the effective date of this Decree, but according to the provisions of this Decree, only appointing the chief accountant is not necessary. to dismiss chief accountants as soon as the Decree takes effect, but continue to be appointed chief accountants until the end of the appointment time limit stated in the current chief accountant appointment decision. Upon re-appointment or new appointment, only the person in charge of accounting shall be appointed in accordance with this Decree.

Article 38. Responsible for implementing

1. The Minister of Finance shall have to guide and organize the implementation of the assigned contents in this Decree; inspect and supervise the compliance with regulations on accounting work, the organization of the accounting apparatus, accountants, and the provision of accounting services in accordance with the law on accounting. .

2. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairmen of People’s Councils and presidents of People’s Committees of provinces and centrally run cities are responsible for the implementation of this Decree. this. /.

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2. Decree 151/2018/ND-CP (Amending Decree 174/2016/ND-CP)

DECREE 151/2018/ND-CP

November 07, 2018

On amendments to some Decrees on business conditions under the management of the Ministry of Finance

[…]

Article 2. To repeal a number of Articles of the Decree No. 174/2016/ND-CP dated December 30, 2016 on detailing a number of articles of the Law on Accounting

1. To repeal Points b, d and dd Clause 1 of Article 30.

2. To repeal Points b and d Clause 1 of Article 34.

[…]

Article 15. Effect and transition clause

1. This Decree takes effect on the signing date.

2. Organizations and individuals that have submitted applications for the certificates of eligibility for business in the fields of accounting, auditing, valuation, lottery, prize-rewarding electronic games for foreigners, casino, betting, credit rating services and voluntary retirement fund management services; establishment licenses and licenses to operate in the fields of insurance business and securities trading; certificate of registration of representative office of the foreign securities-trading organization; for approval for margin trading or day trading by securities companies; for approval for provision of audit services for public interest entities by auditing firms before the effective date of this Decree but have not yet been granted the certificate/license or approval are entitled to apply business conditions mentioned in this Decree.

3. Ministers, heads of ministerial agencies, heads of Governmental agencies and Presidents of People’s Committees of provinces and central-affiliated cities shall provide guidelines and implement this Decree./.