Are medium-sized enterprises required to have a chief accountant? If so, what conditions need to be met?

Are medium-sized enterprises required to have a chief accountant?

Are medium-sized enterprises required to have a chief accountant? According to the provisions of Clause 1 and Clause 2, Article 20 of Decree 174/2016/ND-CP as follows:

Chief accountant, in charge of accounting

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

2. In charge of accounting:

a) Accounting units in the state sector include: Accounting units with only one accountant or one part-time accountant; The budget accounting and finance units of communes, wards and towns do not appoint chief accountants but only appoint accountants.

b) Micro-enterprises according to the provisions of law on supporting small and medium-sized enterprises are assigned to be in charge of accounting without being required to arrange a chief accountant.

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According to the above regulations, micro enterprises according to the provisions of law on supporting small and medium enterprises are assigned to be in charge of accounting without being required to arrange a chief accountant. Therefore, medium-sized enterprises are not exempt from appointing chief accountants.

Thus, medium-sized enterprises are required to have a chief accountant except in the case specified in Clause 1, Article 20 of Decree 174/2016/ND-CP.

What conditions does the chief accountant of a medium-sized enterprise need to meet?

The chief accountant of a medium-sized enterprise needs to meet the conditions specified in Article 54 of the 2015 Accounting Law as follows:

Standards and conditions of chief accountant

1. Chief accountant must have the following standards and conditions:

a) Standards specified in Clause 1, Article 51 of this Law;

b) Have accounting expertise and experience at intermediate level or higher;

c) Have a chief accountant training certificate;

d) Have practical working time in accounting for at least 02 years for people with accounting expertise and skills at university level or higher and actual working time in accounting for at least 03 years for people with intermediate and high-level accounting expertise and skills equal.

2. The Government specifically regulates the standards and conditions of chief accountants appropriate to each type of accounting unit.

Thus, the chief accountant of a medium-sized enterprise needs to meet the following conditions:

– The standards specified in Clause 1, Article 51 of the 2015 Accounting Law include:

Possessing professional ethics, honesty, integrity, and a sense of compliance with the law;

Have professional qualifications and experience in accounting.

Have accounting expertise and experience at intermediate level or higher;

Have a chief accountant training certificate;

– Have actual working time in accounting for at least 02 years for people with expertise and skills in accounting from university level or higher and actual working time in accounting for at least 03 years for people with expertise and expertise in accounting at intermediate or college level.

What are the responsibilities and powers of the chief accountant of a medium-sized enterprise?

The chief accountant of a medium-sized enterprise has the responsibilities and powers specified in Article 55 of the 2015 Accounting Law as follows:

(1) The Chief Accountant has the following responsibilities:

Implement the provisions of law on accounting and finance in the accounting unit;

Organize and operate the accounting apparatus according to the provisions of this Law;

Prepare financial reports in compliance with accounting regimes and accounting standards.

(2) Chief accountants have the right to be independent in terms of expertise and accounting operations.

(3) Chief accountants of state agencies, organizations, public service units using the state budget and enterprises in which the State holds more than 50% of charter capital, in addition to the rights specified in Clause 2 of this Article, also have the rights following:

Have written opinions with the legal representative of the accounting unit on the recruitment, transfer, salary increase, rewards, and discipline of accountants, storekeepers, and treasurers;

Require relevant departments in the accounting unit to provide complete and timely documents related to the chief accountant’s accounting work and financial supervision;

Reserve professional opinions in writing when opinions differ from those of the decision maker;

Report in writing to the legal representative of the accounting unit when detecting violations of finance and accounting laws in the unit; In case you still have to comply with the decision, you must report to the immediate superior of the person who made the decision or the competent state authority and will not be responsible for the consequences of implementing that decision.