Tiếng Việt
中文A private enterprise may provide accounting services when it meets all the conditions and is granted a Certificate of Eligibility for Accounting Services Business. Under Clause 3, Article 60 of the Law on Accounting 2015, a private enterprise is granted the Certificate when it satisfies all of the following conditions: (a) it has an Enterprise Registration Certificate, an Investment Registration Certificate or another equivalent document; (b) it has at least two practicing accountants; (c) the owner of the private enterprise is a practicing accountant and concurrently the director.
1. Conditions for a private enterprise to provide accounting services
- Legal standing: has been granted an Enterprise Registration Certificate with accounting services as a registered business line (appropriate industry code).
- Personnel: has at least 02 practicing accountants — persons granted a Certificate of Registration for Practicing Accounting Services under Article 57 of the Law on Accounting 2015 (holding an accountant/auditor certificate and registering to practice through an enterprise).
- Owner: the owner of the private enterprise must concurrently be a practicing accountant and the director of the enterprise — another person cannot be hired as director in their place.
- Time limit: within 06 months from the date of registering to provide accounting services, if the Certificate is not granted, the enterprise may not continue providing accounting services.
2. Procedure for issuance of the Certificate of Eligibility for Accounting Services Business
The enterprise submits a dossier requesting issuance of the Certificate to the Ministry of Finance (the state management authority for accounting). The dossier comprises: the written request; a copy of the Enterprise Registration Certificate; the list of practicing accountants together with copies of their Certificates of Registration for Practice; and documents evidencing that the private enterprise’s owner is a practicing accountant. The Ministry of Finance reviews and issues the Certificate when the conditions are met.
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3. Notes on professional responsibility
An enterprise providing accounting services must purchase professional liability insurance or establish a professional risk reserve fund as prescribed; may provide services only under a written contract with the client; and practicing accountants must comply with professional ethical standards. Breach of the business conditions may lead to revocation of the Certificate, suspension of operations and administrative penalties.
Notes on applying current legal provisions
This article is for reference, helping readers understand the legal issue at a general level. Detailed conditions and forms follow the guiding documents of the Ministry of Finance. Where advice is needed, readers should contact ANT Legal’s lawyers at 0966.475.966 for verification and advice before proceeding.
Common risks to note
- The private enterprise’s owner is not a practicing accountant but still provides accounting services.
- Failing to have 02 practicing accountants.
- Continuing to operate after 06 months without being granted the Certificate.
- Not purchasing professional liability insurance.
How can ANT Legal help?
ANT Legal assists with advising on conditions and preparing dossiers for issuance of the Certificate of Eligibility for Accounting Services Business. For quick advice, you may contact our lawyers at 0966.475.966.
Frequently asked questions
What conditions must a private enterprise meet to provide accounting services?
Under Clause 3, Article 60 of the Law on Accounting 2015: it has an Enterprise Registration Certificate (or equivalent document); it has at least two practicing accountants; and the owner of the private enterprise must concurrently be a practicing accountant and the director of the enterprise.
Which authority issues the Certificate of Eligibility for Accounting Services Business?
The Ministry of Finance issues it when the enterprise meets all conditions; within 06 months from the date of registering to provide accounting services, if the Certificate is not granted, the enterprise may not continue providing accounting services.
What obligations does an accounting services enterprise have regarding professional risk?
It must purchase professional liability insurance or establish a professional risk reserve fund as prescribed; and may provide services only under a written contract with the client.
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