Regulations on hiring accounting services and chief accountant services according to Vietnamese law

Do people with a chief accountant certificate who want to practice need to have an accountant certificate? How are hiring accounting services and chief accountant services regulated?

1. How are hiring accounting services and chief accountant services regulated?

According to Article 56 of the Accounting Law 2015, the regulations on hiring accounting services and chief accountant services are as follows:

“Article 56. Hiring accounting services and chief accountant services

1. The accounting unit is allowed Sign a contract with an accounting service business or accounting service household to hire accounting services or chief accountant services according to the provisions of law.

2. Hiring accounting services or chief accountant services must be made into a written contract according to the provisions of law.

3. The accounting unit hiring accounting services or chief accountant services is responsible Responsible for fully, promptly and truthfully providing all information and documents related to the work of hiring an accountant, hiring a chief accountant and fully and promptly paying the accounting service fee as agreed in the contract.

4. The person hired as a chief accountant must meet the standards and conditions specified in Article 54 of this Law.

5 hired as an accountant or chief accountant must be responsible for accounting information and data as agreed in the contract.”

Accordingly, the person hired as a chief accountant must meet the qualifications and conditions according to the law.

2. How is registration to practice accounting services regulated?

According to Article 58 of the Accounting Law 2015, the regulations on registration to practice accounting services are as follows:

– People who have an accountant certificate or an auditor certificate according to the provisions of the Law on independent auditing can register to practice accounting services through an accounting service business or an accounting service business household. accounting when all of the following conditions are met:

+ Having civil act capacity;

+ Have practical working time in finance, accounting, auditing for 36 months or more from the time of university graduation;

+ Fully participate in the knowledge update program as prescribed.

– People who fully meet the conditions specified in Clause 1 of this Article shall register to practice and be granted a Service Practice Registration Certificate. accounting. The Ministry of Finance regulates procedures for granting and revoking Certificates of registration to practice accounting services.

– The Certificate of registration to practice accounting services is only valid when the grantee has a full-time labor contract for an enterprise providing accounting services or works at a household doing accounting services.

– Those who are not registered to practice accounting services including:

+ Officials, civil servants and public employees; officers, professional soldiers, workers, defense officials, People’s Police.

+ People who are banned from practicing accounting under a legally effective Court judgment or decision; people being prosecuted for criminal liability; People who have been convicted of one of the crimes of violating the economic management order related to finance and accounting but have not had their criminal record erased; People who are being subjected to administrative measures of education in communes, wards, towns, sent to compulsory education establishments, compulsory detoxification establishments;

+ People who have been convicted of serious crimes that violate economic management order but have not yet had their criminal records expunged;

+ People who have been administratively sanctioned for violations of the laws on finance, accounting, and auditing that have not yet expired 06 months from the date of completion of the penalty decision in case of a warning or before the expiration of 01 year from the date of completion of the completion of another administrative penalty decision;

+ Person suspended from practicing accounting services.

3. Does a person with a chief accountant certificate who wants to practice need to have an additional accountant certificate?

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

“Article 54. Standards and conditions of chief accountants

1. Chief accountants must have the following standards and conditions here:

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 actual working time in accounting for at least 02 years for people with accounting expertise and skills from university level or higher and actual working time in accounting for 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 suitable for each type of accounting unit.”

The law does not require chief accountants to have an additional accountant practicing certificate. In your accounting service company, you only need to have at least two capital contributing members who are practicing accountants.