Who has the authority to appoint the chief accountant in a state-owned single-member limited liability company?

Who is the chief accountant?

According to Article 53 of the Accounting Law 2015, the regulations on chief accountants are as follows:

“Article 53. Accounting Chief Accountant

1. Chief Accountant is the head of the accounting apparatus of the unit who is responsible for organizing the implementation of accounting work in the accounting unit.

2. Chief accountant 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 duties specified in Clause 1 of this Article, also has the responsibility to assist the representative according to the law. The law of the accounting unit supervises the finances at the accounting unit.

3. The chief accountant is under the leadership of the legal representative of the accounting unit; in case there is a superior accounting unit, he/she is also subject to the direction and inspection of the chief accountant of the superior accounting unit regarding expertise and operations.

4. In case the accounting unit appoints a person in charge of accounting to replace the chief accountant then the person in charge of accounting must have the standards and conditions specified in Clause 1, Article 54 of this Law and must exercise the responsibilities and rights prescribed for the chief accountant specified in Article 55 of this Law.”

Accordingly, the Chief Accountant is the head of the unit’s accounting apparatus and is responsible for organizing the implementation of accounting work in the accounting unit. 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 duties specified in Clause 1 of this Article, also have the duty to help the legal representative of the accounting unit monitor finances at the accounting unit.

What are the standards and conditions of a chief accountant?

According to Article 54 of the 2015 Accounting Law, the standards and conditions of a chief accountant are stipulated as follows:

“Article 54. Standards and conditions of a chief accountant

1. The chief accountant must have the standards and conditions the following conditions:

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

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

c) Have a chief accountant training certificate;

d) Have practical work time in accounting for at least 02 years for people with accounting expertise and skills from university level or higher and actual work time in accounting is at least 03 years for people with accounting expertise and skills at intermediate or college level.

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

Accordingly, the Chief Accountant must have the following standards and conditions:

– The standards specified in Clause 1, Article 51 of this Law;

– Have expertise and experience in accounting from 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.

Who has the authority to appoint chief accountant in a one-member limited liability company owned by the state?

According to Article 50 of the 2015 Accounting Law, the responsibilities of the legal representative of the accounting unit are prescribed as follows:

“Article 50. Responsibilities of the legal representative of accounting unit

1. Organize the accounting apparatus, arrange accountants or decide to hire accounting service businesses or accounting service households in accordance with the provisions of this Law.

2. Arrange someone to act as chief accountant or decide to hire services to act as chief accountant according to the provisions of this Law; In case specialized laws have different provisions, the specialized laws shall comply.

3. Organize and direct the implementation of accounting work in the accounting unit according to the provisions of law on accounting and take direct responsibility for the consequences of violations caused by them; be jointly responsible for violations committed by others but under their management responsibility.

4. Organize accounting inspection within the unit and perform accounting inspection of subordinate units.”

Accordingly, organize the accounting apparatus, arrange accountants or decide to hire accounting service enterprises or accounting service households in accordance with the provisions of this Law. Arrange someone to act as chief accountant or decide to hire services to act as chief accountant according to the provisions of this Law; In case specialized laws have different provisions, compliance with specialized laws is the responsibility of the legal representative of the accounting unit. Thus, in state-owned enterprises, the legal representative of the enterprise has the right to appoint the chief accountant.