What conditions must be met to conduct business in accounting services in the form of a partnership?

1. How does accounting service business operate?

According to Clause 13, Article 3 of the Accounting Law 2015, regulations on accounting service business are as follows:

“Article 3. Interpretation of terms

In this Law, the following terms are understood as follows: following:

…

13. Accounting service business is the provision of accounting services, acting as chief accountant, preparing financial reports, accounting consulting and other tasks within the content of accounting work according to the provisions of this Law for organizations and individuals in need.”

2. Can an enterprise provide accounting services in the form of a partnership?

Accounting service enterprises are regulated in Article 59 of the Accounting Law 2015 as follows:

– Accounting service enterprises are established in the following types:

+ Limited liability companies with two or more members up;

+ Partnership company;

+ Private enterprise.

– Enterprises are only allowed to do business in accounting services when they ensure business conditions according to the provisions of this Law and are granted a Certificate of eligibility to do business in accounting services.

– Enterprises doing business in accounting services are not allowed to contribute capital to Establishing another accounting service business, except for contributing capital to a foreign accounting service business to establish an accounting service business in Vietnam.

– Foreign accounting service business conducting accounting service business in Vietnam in the following forms:

+ Contributing capital to an accounting service business that has been established and operating in Vietnam Vietnam to establish an accounting service business;

+ Establish a branch of a foreign accounting service business;

+ Provide cross-border services according to Government regulations.

According to the above regulations, accounting service businesses can be organized in the form of a partnership and must meet the business conditions prescribed by law.

3. What conditions must a partnership providing accounting services meet?

Pursuant to Clause 2, Article 60 of the 2015 Accounting Law, a partnership is granted a Certificate of eligibility to conduct business in accounting services when it meets all of the following conditions:

– Having a Certificate of Business Registration, Certificate of Investment Registration or other documents of equivalent value equivalent to the provisions of law;

– Have at least two partners who are practicing accountants;

– The legal representative, director or general director of the partnership company must be practicing accountants.

* Regarding documents and procedures for granting the Certificate of eligibility to conduct business in accounting services are prescribed as follows: as follows:

According to Clause 1, Article 5, Circular 297/2016/TT-BTC stipulating the application dossier for issuance of Certificate of eligibility for business in accounting services, including:

– Application for issuance of Certificate of eligibility for business in accounting services.

– Copy of Certificate of business registration Certificate of investment registration or other documents of equivalent value.

– Copy of Certificate of registration to practice accounting services of practicing accountants.

– Labor contract with an enterprise providing accounting services of practicing accountants.

– Documents proving capital contribution for limited liability companies term.

– Company charter for partnerships and limited liability companies.

– Written commitment to take responsibility of the foreign enterprise, documents certifying the foreign enterprise’s license to provide accounting services for branches of foreign enterprises providing accounting services in Vietnam.

In There,

– Application for issuance of Certificate of eligibility to conduct business in accounting services for limited liability companies with two or more members, partnerships and private enterprises shall be made according to the form specified in Appendix 1 issued with this Circular.

– Application for issuance of Certificate of eligibility to conduct business in accounting services for branches of foreign enterprises providing accounting services in Vietnam shall be made according to the form specified in Appendix 2 issued with this Circular.

The preparation of application for issuance of Certificate must meet the principles specified in Article 4 of Circular 297/2016/TT-BTC, specifically as follows:

– Copies of documents and diplomas must be authenticated by a competent authority according to the provisions of law.

– Application for issuance of Certificate of eligibility to conduct business in accounting services must be made in Vietnamese. Documents accompanying the application in a foreign language must be translated into Vietnamese and the translation must be certified in accordance with the provisions of Vietnamese law.

– Documents issued or notarized or authenticated by foreign agencies or organizations must be consularly legalized in accordance with the provisions of Vietnamese law, except in cases where consular legalization is exempted according to international treaties to which the Socialist Republic of Vietnam is a member. member.

– The organization applying for a Certificate of eligibility to do business in accounting services must be responsible for the accuracy and truthfulness of the dossier submitted to the Ministry of Finance.

* Procedures for applying for a Certificate of eligibility to do business in accounting services according to Clause 2, Article 5 of Circular 297/2016/TT-BTC as follows The following:

– The organization requesting the issuance of a Certificate of eligibility for business in accounting services shall send a set of documents as prescribed in Clause 1 of this Article to the Ministry of Finance and pay the appraisal fee to issue a certificate of eligibility for business in accounting services.

* Time limit for issuance of Certificate of eligibility for business in accounting services is specified in Clause 4, Article 5 of the Circular 297/2016/TT-BTC as follows:

– Within 15 days from the date of receipt of complete and valid documents, the Ministry of Finance issues a Certificate of eligibility to provide accounting services to the enterprise; In case of refusal to grant, a written response must be made clearly stating the reason.

– In case of need to clarify issues related to the application for a Certificate of eligibility for business in accounting services, the Ministry of Finance requires the enterprise applying for a Certificate of eligibility for business in accounting services to explain. The time limit for issuance of the Certificate of eligibility to conduct business in accounting services is calculated from the date of receipt of additional explanatory documents.

Thus, registering an accounting service business in the form of a partnership can be done but must meet the conditions prescribed in Clause 2, Article 60 of the 2015 Accounting Law and must complete the procedures for granting a Certificate of eligibility for accounting service business as prescribed.