Does a limited liability company need to appoint a chief accountant? What is the deadline for appointing chief accountants for accounting units?

What conditions does a person in charge of accounting require?

According to Article 21 of Decree 174/2016/ND-CP Regulations on standards and conditions of chief accountant and in charge of accounting are as follows:

– Chief accountant, in charge of accounting must have the standards specified in Points a, c, d, Clause 1, Article 54 of the Accounting Law and not fall into the cases of not being allowed to work as accountants as prescribed in Article 19 of this Decree. The Ministry of Finance regulates the organization, training and issuance of chief accountant certificates.

– Chief accountants, in charge of accounting of the following accounting units must have professional accounting expertise at university level or higher, including:

+ Agencies responsible for state budget revenue and expenditure at all levels;

+ Ministries, ministerial-level agencies, Government agencies, National Assembly agencies, other central state agencies and accounting units under these agencies;

+ Public service units belonging to ministries, ministerial-level agencies, Government agencies, other central agencies, and Provincial People’s Committees;

+ Specialized agencies under the Provincial People’s Committee and equivalent; State management agencies under these agencies;

+ Central agencies organized vertically located in the province;

+ Political organizations, socio-political organizations, political-social-professional organizations, social organizations, socio-professional organizations at central and provincial levels using state budget;

+ The investment project management board has its own accounting apparatus, using state budget for group A projects and important national projects;

+ Level 1 budget unit belongs to the district budget;

+ The enterprise is established and operates under Vietnamese law, except for the cases specified in Point g, Clause 3 of this Article;

+ Cooperatives and cooperative unions with charter capital of 10 billion VND or more;

+ Foreign enterprise branches operating in Vietnam.

– Chief accountants, in charge of accounting of the following accounting units must have professional accounting expertise at professional intermediate level or higher, including:

+ Specialized agencies under the district-level People’s Committee have an organized accounting apparatus (except for level 1 budget units under the district budget);

+ Central agencies organized vertically are located at the district level, provincial agencies are located at the district level;

+ Political organizations, socio-political organizations, political-social-professional organizations, social organizations, socio-professional organizations at district level that use state budget;

+ The investment project management board has its own accounting apparatus and uses state budget, except for the cases specified in Point g, Clause 2 of this Article;

+ Budget accounting and finance units of communes, wards and towns;

+ Public service units other than the units specified in Point c, Clause 2 of this Article;

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

+ Cooperatives and cooperative unions with charter capital of less than 10 billion VND.

– For organizations and units other than those specified in Clauses 2 and 3 of this Article, standards for qualifications and professional expertise of chief accountants and in charge of accounting are decided by the legal representative of the unit in accordance with the provisions of the Accounting Law and other relevant provisions of law.

– For chief accountants, in charge of accounting of parent companies that are state-owned enterprises or enterprises with state capital accounting for over 50% of charter capital, they must have at least 5 years of actual accounting experience.

– Standards and conditions for professional expertise of chief accountants and in charge of accounting of units of the people’s armed forces are prescribed by the Ministry of National Defense and the Ministry of Public Security.